SHOW ME THE MONEY
– via CNN –
San Francisco on Tuesday became the second U.S. city to raise its minimum wage to $15 an hour.
Voters overwhelmingly approved a ballot measure to gradually raise the city’s minimum wage from $10.74 currently. It passed with 77% of the vote, according to initial results reported by local authorities.
The decision follows Seattle’s approval in June to raise its minimum wage to $15, the highest level in the nation.
Under the new law, wages will rise to $11.05 on Jan.1, then $12.25 in May before increasing every year until they reach $15 in 2018. After that, increases will be tied to inflation in the Bay Area.
San Francisco Mayor Edwin Lee applauded the result and said voters “sent a message loudly and clearly” that “we can take on the growing gap between rich and poor.”
The move by San Francisco is part of a growing push in cities and states across the nation to give workers a so-called living wage.