The new floor is $15 an hour.
The Wage and Hour Division of the U.S. Department of Labor published its final rule implementing regulations under Executive Order 14026 (Increasing the Minimum Wage for Federal Contractors). These regulations require that certain contracts include a clause requiring covered employees to be paid no less than $15 per hour. In addition to applying to new contracts, the final rule requires that existing contracts be updated to include the minimum wage contract clause when an agency exercises an option to purchase additional services.
For details on which contracts are subject to the new regulation, please read the final rule.
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