As of January 2023, the minimum wage in Colorado is $13.65 per hour for employees covered by the Colorado minimum wage law. This is up from the previous year's rate of $12.56 per hour. Employees not covered by the Colorado minimum wage law, such as those exempt from the law or who work in certain industries, may be paid a lower wage.
The Colorado minimum wage refers to the legally mandated minimum hourly wage that employers must pay their employees within the state. It's important to note that the minimum wage in Colorado can change over time to keep up with the state's economic conditions and cost of living. To get the most up-to-date information on the current minimum wage in Colorado, it is advisable to consult the Colorado Department of Labor and Employment or other authoritative sources. Employers in Colorado must ensure compliance with the minimum wage laws to avoid legal penalties and provide fair compensation to their workers.
The average wage in Colorado is $23.05 per hour, or $47,892 per year. This is higher than the national average wage of $20.73 per hour, or $43,460 per year. The cost of living in Colorado is also higher than the national average, which means that workers need to earn more money to maintain the same standard of living.
A Workstream hiring specialist can help you identify high impact ways to improve your applicant experience, and even help you determine what is a good hourly wage for your location and business.
