CHICAGO — Chicago's hourly minimum wage has increased from $10 to $10.50 today.
The change is part of a 2014 ordinance that initiated a series of annual minimum wage increments, with a goal set of $13 per hour by 2019. This year's raise is expected to affect about 270,000 workers across the city.
“Today marks another step for people across Chicago by making sure hard work is rewarded with higher pay. Because earning the minimum wage should not mean minimal opportunities for Chicago’s families,” Mayor Emanuel said in a press release. “Anyone who works in the City of Chicago should be able to afford to live and raise a family here.”
However, studies show Chicago's increasing minimum wage is still not enough for many households to live on. Living Wage Calculator, a project developed by MIT professor Dr. Amy K. Glasmeier, estimates that the living wage for a household with one adult and one child is $24.73, while a household with two working adults and one child is $13.57 — still higher than the scheduled $13 minimum wage in 2019.
In addition, a recent study by the National Low Income Housing Coalition titled "Out of Reach 2016" shows that a minimum wage of $19.98 an hour is needed to afford a two-bedroom unit in Illinois.
Chicago's minimum wage will continue to rise every July 1 with increases to $11 in 2017, $12 in 2018, and $13 per hour in 2019.
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