About 128,000 Oregon workers are due for a raise, following today's announcement that Oregon's hourly minimum wage will go up 15 cents in 2013.
"A rise in the minimum wage is good news for workers and Oregon's economy," said Jason Gettel, policy analyst with the Oregon Center for Public Policy. "It helps the lowest-paid workers make ends meet, and helps the Oregon economy when the workers spend those extra dollars in local businesses."
Oregon's minimum wage will rise from $8.80 to $8.95 on January 1 of next year, the Oregon Bureau of Labor and Industries (BOLI) announced today. The adjustment, mandated by a ballot measure approved by voters in 2002, reflects the increase in the cost of living as defined by the August Consumer Price Index (CPI), which increased 1.7 percent from a year ago.
OCPP calculated that the increase means an additional $312 a year for a family with one full-time minimum wage worker.
According to OCPP, about 128,000 Oregon jobs -- about 1 out of every 13 jobs in the state -- will pay more due to the minimum wage increase set to take effect next year. That estimate comes from Oregon Employment Department analysis of Unemployment Insurance wage records showing the number of jobs paying less than $8.95 in the first quarter of 2012, the most recent data available.
The 128,000 estimate is probably low because jobs paying just above the minimum wage may also have wage increases, as employers adjust their overall pay structures to reflect the new minimum wage, Gettel said. (more…)