President Biden signed an executive order on April 27, 2021, to set the new federal contractors’ minimum wage at $15 per hour. This is an almost $5 increase, with the previous minimum set at $10.95 per hour.
All federal agencies must begin presenting the wage bump in new contract offerings on or by January 30, 2022, and then must implement the new rate by March 30, 2022. Contracts that are already established must also adhere to the $15 per hour rate if they are extended into this period.
