State Minimum Wage Rate for Colorado
This dataset tracks state minimum wage rate for colorado over time.
Latest Value
14.81
Year-over-Year Change
90.36%
Date Range
1/1/1968 - 1/1/2025
Summary
The State Minimum Wage Rate for Colorado tracks the legally required minimum hourly wage for workers in the state. This metric is important for analyzing labor market trends and cost-of-living changes.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The State Minimum Wage Rate for Colorado represents the lowest permissible hourly pay that employers in the state must provide to their workers. This data point is closely monitored by economists, policymakers, and businesses to understand the state's labor landscape and cost pressures.
Methodology
The data is collected by the U.S. Bureau of Labor Statistics through surveys of Colorado employers.
Historical Context
Minimum wage levels can impact employment, consumer spending, and broader economic conditions.
Key Facts
- Colorado's minimum wage is currently $12.56 per hour.
- The state's minimum wage is indexed to inflation and adjusted annually.
- Over 280,000 Colorado workers are paid at or below the minimum wage.
FAQs
Q: What does this economic trend measure?
A: The State Minimum Wage Rate for Colorado tracks the legally required minimum hourly wage that must be paid to workers in the state.
Q: Why is this trend relevant for users or analysts?
A: Minimum wage levels are a key indicator of labor market conditions and cost-of-living pressures, making this data point important for economists, policymakers, and businesses.
Q: How is this data collected or calculated?
A: The data is collected by the U.S. Bureau of Labor Statistics through surveys of Colorado employers.
Q: How is this trend used in economic policy?
A: Minimum wage rates can influence employment, consumer spending, and broader economic conditions, so this data is closely monitored by policymakers.
Q: Are there update delays or limitations?
A: The State Minimum Wage Rate for Colorado is updated annually, with a typical 1-2 month delay in publication.
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Citation
U.S. Federal Reserve, State Minimum Wage Rate for Colorado (STTMINWGCO), retrieved from FRED.