ThinkProgress is reporting that Seattle will raise its minimum wage to $15 an hour over the coming years under a deal brokered by Mayor Ed Murray and blessed by labor and business groups alike, city leaders announced Thursday afternoon.
The new pay floor will phase in at different speeds for businesses of different sizes, but all employers will have to meet the $15 minimum wage by the end of the decade. Businesses with more than 500 employees nationwide will have a three-year phase-in period, while smaller employers get five years to ratchet up their payscales.
After reaching $15 an hour, the city’s minimum wage will automatically climb by 2.4 percent each year regardless of the rate of inflation. Even among states with relatively strong minimum wage laws, automatic increases are uncommon.
