New Colorado minimum wage takes effect; now 9th highest in country

COLORADO SPRINGS, Colo. (KRDO)--The start of the new year means Colorado's new minimum wage is kicking in.

It's now up to $13.65 per hour. That is $1.09 higher than in 2022.

It's the largest annual jump in the minimum wage in Colorado since 2007. 2007 was the first increase in the minimum wage in nine years. The jump from 2022 to 2023 means Colorado now has the ninth-highest minimum wage in the country.

Meanwhile, for employees who get tips, the minimum wage is increasing to $10.63 per hour.

That's also $1.09 higher than in 2022.

In Colorado, someone working 40 hours per week, making the non-tipped minimum wage, will make $28,392 before taxes.