On April 27, 2021, President Biden announced that the hourly minimum wage for federal contractors would be increased to $15.00. That is a substantial increase from the current $10.95. This Executive Order indicates another sign that the administration is going to be using its mandate with federal contracts to effect positive change.
“Raising the minimum wage enhances worker productivity and generates higher-quality work by boosting workers’ health, morale, and effort; reducing absenteeism and turnover; and lowering supervisory and training costs.” Says President Biden. “Accordingly, ensuring that Federal contractors pay their workers an hourly wage of at least $15.00 will bolster economy and efficiency in Federal procurement.”
To review the Executive Order in its entirety, click here.
