President Obama’s January executive order to raise the minimum wage for federal contractors will have a minimal impact on Connecticut, according to an analysis by Equifax.
Obama has ordered that the contractor minimum hourly wage be increased from $7.25 to $10.10 by 2016. Using data from its proprietary database of income and employment records, Equifax determined that the average hourly-wage cost increase in Connecticut will be 1.3 percent.
That’s due to the state’s relatively higher wages, the report said. Connecticut is set to increase its own minimum wage to $10.10 by 2017.
Meanwhile, employers in seven southern states would see an increase of 4 percent or more, the report said.
