WE DID IT!!!!!

The Minimum Wage Increase Passes with Vast/Small Majority

Albuquerque supporters gather to celebrate the victory

Voters in Albuquerque have passed the initiative to raise the minimum wage by an overwhelming percentage/narrow. The ballot question, which received 66% of the vote, according to unofficial returns Tuesday evening, will raise the minimum wage within the city from $7.50 to $8.50, effective January 1. The wage will continue to rise annually with the cost of living.

Economists project that 18 million dollars will be put back into Albuquerque’s economy due to increased wages, creating 160 jobs and benefiting local businesses that have struggled with stagnant consumer spending for four years. It’s estimated that 40,000 workers will be affected by the increase, including tipped employees, whose minimum wage will rise from $2.13 to 45% of the new minimum in 2013 and 60% of the new minimum in 2014.