Colorado’s minimum wage is set to increase by more than a dollar in 2023.
The minimum wage will go from $12.56 per hour to $13.65 an hour, an almost 9% increase.
The increase is thanks to a voter-approved mandate in the Colorado Constitution that requires annually adjusting the minimum wage for inflation. Local governments are still able to set higher minimum wage than the state standard.
The new minimum wage will take effect on January 1st.
