In November, Colorado voters will be asked whether the minimum wage in the state should be raised to $12 an hour. Currently, Colorado’s minimum wage is $8.31 an hour. If approved, Amendment 70 would raise the minimum wage in increments until it reaches $12 an hour in 2020.
University of Denver faculty members Jennifer C. Greenfield, from the Graduate School of Social Work, and Jack Strauss, conducted a study into what impact increasing the minimum wage would have in Colorado. The research looked closely at how income inequality and childcare prices might be affected. The research was sponsored by DU’s Colorado Women’s College (CWC).
Among the key findings: A minimum-wage increase would result in Colorado’s gross domestic product growing by $400 million, and incomes would increase for 20 percent of households in Colorado. READ MORE