The U.S. Department of Labor (DOL) has issued notices announcing increases in the minimum wage rates established by two different Presidential Executive Orders (E.O.s), one signed by President Obama (E.O. 13658) and the other signed by President Biden (E.O. 14026), that set a higher minimum wage rate for work performed on certain government contracts. Pursuant to annual escalator clauses contained in both E.O.s, the minimum wage rate under the Biden E.O. will increase from $15.00 an hour to $16.20 an hour on January 1, 2023, while the minimum wage rate under the Obama E.O. will increase from $11.25 to $12.15 on the same date.
Members of the Center for Workplace Compliance (CWC) can read more here.