DOL Proposes Rule to Increase Wages for Federal Contractors
- ACO Insurance
- Jul 22, 2021
- 1 min read
On July 21, 2021, The U.S. Department of Labor (DOL) announced a proposed rule that would increase the minimum wage rate for federal contractor employees to $15 per hour starting on Jan. 30, 2022. Beginning Jan. 1, 2023, and annually thereafter, the wage rate for federal contractors would be adjusted to reflect the cost of inflation.
The order applies to new federal contracts, solicitations and contract renewals entered into or exercised on or after Jan. 30, 2022.
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