Oregon minimum wage increasing to $8.95

Oregon minimum wage increasing to $8.95
FILE image.

PORTLAND, Ore. – Oregon’s minimum wage will climb to $8.95 per hour next year.

The 15 cent increase will take effect on Jan. 1, 2013.

Brad Avakian, Commissioner of the Oregon Bureau of Labor and Industries, said the increase is necessary to help Oregon families make ends meet in tough times.

“Oregonians recognize the rising cost of living facing every one of us, and our strong minimum wage law is essential insurance that Oregon workers and their families can maintain their purchasing power and continue to contribute to our local economies.”

Oregon voters approved a law in 2002 that directs the BOLI Commissioner to adjust the minimum wage every September based on inflation and the Consumer Price Index, a statistic that measures price changes for common goods and services used for day-to-day living. The adjustment is rounded to the nearest five cents.

Oregon is one of ten states that make adjustments based on inflation and the CPI.

The increase means about 128,000 Oregon workers will get a raise in 2013, according to the Oregon Center for Public Policy.

The new minimum wage will be 23 percent higher than the Federal minimum wage of $7.25 per hour.