Catherwood LibraryILR School

President Joe Biden has signed an executive order lifting the hourly minimum wage for federal contractors. Up from $10.95 in April, federal contractors will be guaranteed an hourly minimum wage of at least $15. This increase will apply to all new contracts with government agencies beginning January 30th, 2022. As contracts can last three to five years, many workers will have to wait longer than January for the pay bump. The acting administrator of the Department of Labor's Wage and Hour Division said, “it's a step in the right direction.”