The Wage and Hour Division of the U.S. Department of Labor issued Executive Order 13658 increasing the minimum wage for federal contract workers. Effective January 1, 2023 the minimum hourly wage is raised to $13.75. Up from $12.15 in 2022.
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The information contained in this article is intended for educational purposes and to provide a general understanding of regulatory events, legislative changes and the law – not to provide specific legal advice. Employers are advised to discuss and/or receive counsel from their licensed legal or accounting professional, prior to implementing any new policy or policy change.