GOV. MALLOY: FIRST OF TWO INCREASES IN STATE’S MINIMUM WAGE SCHEDULED TO TAKE EFFECT WEDNESDAY
Governor Dannel P. Malloy today reminded Connecticut residents that the first of two scheduled increases in the state’s minimum wage is slated to take effect this week as a result of a new law the Governor signed earlier this year, which requires the state’s minimum wage to increase from $8.25 to $8.70 on January 1, 2014, followed by a second increase on January 1, 2015 to $9.00.
“This gradual increase over two years is a balanced approach to helping hard working men and women without adversely impacting the business community,” Governor Malloy said. “Studies have shown that increasing the minimum wage is one of the best ways to get children out of poverty. This modest increase is money that will be put back into our economy and help residents to make ends meet.”
Out of Connecticut’s workforce of 1.7 million people, it is estimated that there are currently 70,000 to 90,000 workers who earn the minimum wage. Under the current rate of $8.25 an hour, an employee working 40 hours a week earns $17,160 per year.
“To truly achieve renewed prosperity as a state, we need all levels of workers to participate in the economic recovery,” Lt. Governor Nancy Wyman said. “These increases represent small but significant steps forward for tens of thousands of Connecticut workers trying to provide for themselves and their families.”
“As the gap between the wealthiest Americans and the average employee increases, paying workers a fair minimum wage will help them keep food on their table and provide for their families,” Senate President Donald E. Williams, Jr. (D-Brooklyn) said. “Raising the minimum wage is an investment in our workforce and a much needed boost for hard-working men and women.”
“This increase in the minimum wage will give thousands of low-income working families across Connecticut a small raise in the new year, which is long overdue,” Speaker of the House Brendan Sharkey (D-Hamden) said. “Raising the minimum wage is good for our economy, helps people, and is the right thing to do.”
“Our country has always been committed to the idea that the United States is at its best when it has a robust and growing middle class,” Senate Majority Leader Martin M. Looney (D-New Haven) said. “By raising the minimum wage, we can make it just a little bit easier for working families to make ends meet.”
“This small increase will make a real difference in the lives of the 100,000 Connecticut residents that earn minimum wage,” House Majority Leader Joe Aresimowicz (D-Berlin, Southington) said. “Raising the minimum wage isn't just good for workers — it’s good for business too. A higher minimum wage would inject dollars our economy as folks spend increased earnings at local businesses.”
“This is a well-needed benefit for people who are now just surviving on the minimum wage, and it starts the process of getting them to a point where they can help support a family,” State Senator Cathy Osten (D-Sprague), co-chair of the Labor and Public Employees Committee, said.
“This is money that’s all going to be spent locally,” State Representative Peter Tercyak (D-New Britain), co-chair of the Labor and Public Employees Committee, said. “None of it will go to investments or savings yet. This is starting at the lower end of our economy, and this money will be earned and spent, passing through hand after hand, before it reaches the wealthy.”
