In 2024, Denver's minimum wage will rise from $17.29 to $18.29. The minimum wage will be $15.27 for workers that earn at least $3.02 in tips.
The raise is prompted by an ordinance passed by City Council in 2019, which raised the former minimum wage from $11.10 to $15.87 over the course of three years. After the three years, the bill tied the city minimum wage to the Consumer Price Index (CPI), which measures change in consumer prices based on location.
That means that as the cost of living goes up, the minimum wage goes up.
The $1 increase, based on a 5.8% change from the CPI, reflects that while inflation still persists, it is slowing. Last year, when inflation was higher and the CPI was 8.94%, minimum wage grew $1.42, from $15.87 to $17.29.
"Denver thrives when our residents thrive, and this minimum wage adjustment serves as an important tool to help both our workers and businesses succeed in a competitive job market," said Mayor Mike Johnston in a statement Thursday. "This increase can help put money in the pockets of Denver workers, ensure everyone receives a fair wage, and help Denver remain an attractive job market for employees."
