When does the minimum wage increase? January 1 of each year.
How much will the wage increase? The citywide minimum wage in 2023 is $17.29 per hour. If food and beverage industry employers claim the full tip credit of $3.02 per hour, the tipped wage would be $14.27. Beginning Jan. 1, 2024, the citywide minimum wage will increase to $18.29 per hour. Minimum wage for tipped workers in the food and beverage industry will be $15.27 as long as they receive $3.02 in tips per hour.
Transcript of Denver Wages Timeline(PDF, 69KB)
The citywide minimum wage was $12.85 per hour in 2020, $14.77 per hour in 2021, and $15.87 per hour in 2022. Currently, the rate is $17.29 per hour and will increase to $18.29 per hour on January 1, 2024.
Is Denver’s wage rate the highest? No, Denver will be among several dozen cities nationwide with minimum wages above $17 per hour. In 2023, some peer cities will already be above $18 per hour.
How is the wage increase calculated? According to ordinance, the Denver Department of Finance calculates the annual increase based on the Consumer Price Index (CPI). The methodology is laid out in ordinance and is similar to how the State of Colorado calculates its statewide minimum wage. According to ordinance, the adjustment calculation compares the Consumer Price Index for the first half of the previous year to the first half of the current year. The Consumer Price Index is designed to help workers keep up with the cost of living in their area.