Transcript New Minimum-Wage-Increase Study Predicts a Positive Impact for

Amendment 70
and
Webinar Overview
Goals
• Inform voters’ consideration of minimum
wage increase by sharing research and
WFCO support for Amendment 70
• Prepare and equip participants to advocate
for Amendment 70
Agenda
• Presentation of research and position
• Discussion of advocacy opportunities
• Q&A
The Impact of a $12.00 Minimum
Wage on Women in Colorado
• How an increase to $12.00/hour
by 2020 would impact:
–
–
–
–
Colorado workers
Colorado’s economy
Child care affordability
Eligibility for public support programs
• How Colorado lawmakers can support women &
families in achieving economic self-sufficiency
The Impact of a $12.00 Minimum Wage on Women in Colorado was published in September
2016 by Colorado Women’s College Collaboratory at the University of Denver, in partnership
with The Women’s Foundation of Colorado. The report is available at wfco.org/minimumwage.
Colorado’s Current
Minimum Wage Workforce
• $8.31 per hour, or $17,285 annually for full-time,
year-round work
• More than 50% women, and women and men of
color are overrepresented
• 85%-90% are older than 20; nearly 35% are 40+
• 35% have attended college
• 16% possess at least a bachelor’s degree
• Nearly 50% work in retail trade,
restaurants, or health care &
social assistance
Impacts of Minimum Wage Increase
• Boost earnings for
– 290,000 women
– 20% of Colorado households
– 200,000 households with children
• Strengthen Colorado economy
– Increased spending driven by
higher earnings augment GDP
by $400 million and spark job growth
– Minimal increase in consumer prices
– Positive earning effects for restaurants and
other low-wage retail
Impacts of Minimum Wage Increase
• Vast majority of impacted families
maintain eligibility for public assistance
programs
• Child care prices not expected to
increase overall
– Child care prices may increase in smaller
communities
– Mitigate higher costs by streamlining
administration and increasing
reimbursements for providers
Amendment 70:
“Shall there be an amendment to the
Colorado constitution increasing the
minimum wage to $9.30 per hour with
annual increases of $0.90 each January 1
until it reaches $12 per hour effective
January 2020, and annually adjusting it
thereafter for cost-of-living increases?”
Yes:
No:
Update existing
minimum wage
language in Constitution
Keep existing minimum
wage language in
Constitution
Why WFCO Supports Amendment 70
• Commitment to improving
opportunities for economic selfsufficiency
• Research shows significant economic
benefits for women, families, and
Colorado
• Positive impacts far outweigh
potential challenges
Election Day is November 8
• Deadline to register to vote:
– In person: Election Day
– By mail: October 31, 2016
• Confirm your registration through Colorado
Secretary of State website
• Completed mail ballots must be received by
7 pm on Election Day by mail or drop off
• Vote in person
– Early voting available
– Contact county clerk and recorder for polling
locations
Questions and Discussion
WFCO staff are available for questions:
Louise Myrland
Vice President,
Community Initiatives
and Investments
[email protected]
303-285-2973
Alison Friedman
Manager,
Community Initiatives
and Investments
[email protected]
303-285-2972
Thank you!
Recap
• Vote “Yes” on Amendment 70 to
gradually increase minimum wage
• $12 minimum wage by 2020 will:
– Increase earnings for 20% of CO
households and 290,000 women
– Grow CO economy by $400 million
without substantial consumer price
increases or job losses