inflation

By Aldo Svaldi
The Denver Post

The new year brings with it a decent bump in pay for about 74,000 Colorado workers earning the minimum wage.

Colorado's minimum wage increases 3.8 percent, or 28 cents, to $7.64 an hour effective today. That's the biggest increase since the state linked its minimum wage to inflation back in 2006.

For an employee making that wage full-time, the increase translates into an extra $582 a year.

By Dan Frosch
The New York Times

DENVER – When Coloradoans voted to tie the state's minimum wage to inflation, they were trying to make sure low-wage workers did not fall too far behind the cost of living. But their vote has had an unintended consequence: Colorado plans to lower its minimum wage next year because of falling inflation rates, becoming the first state in the nation do so.

The Denver Post

Collapsing energy and transportation prices quenched inflation in the metro area in the first half of 2009, according to a report Friday from the U.S. Bureau of Labor Statistics.

The consumer price index for Denver-Boulder-Greeley decreased 0.6 percent between the first half of 2008 and the first half of 2009.

Inflation ran at a hot 3.9 percent rate last year.

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Colorado should raise the minimum wage from $5.15 to at least $6.85 an hour, and we should adjust the minimum wage to inflation every year thereafter. This will increase the incomes of the lowest-paid workers by $1.70 an hour, or $3,500 per year, and help them keep up with the rising costs of necessities such as food, health care, gas and housing.

A Boulder Daily Camera commentary outlining the work of the Campaign for Colorado, a group working to get an initiative on the ballot that would fix some serious structural flaws in TABOR.

Increasing the stipend and holding down tuition should be a top priority. We should increase the stipend to at least $3,000 per full-time student in 2007-08 ??? higher if possible. And we should make sure COF keeps pace with inflation after that. Colorado should also double need-based financial aid and work study opportunities.

Colorado should raise the minimum wage from $5.15 to at least $6.85 an hour, and we should adjust the minimum wage to inflation every year thereafter. This will increase the incomes of the lowest-paid workers by $1.70 an hour, or $3,500 per year, and help them keep up with the rising costs of necessities such as food, health care, gas and housing.

Rising health care costs are having a profound and lasting impact on Colorado families, businesses and the state budget.