Unfortunately $15/hr won’t be worth that much in 5 years.
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Minimum wage will increase to $15 per hour by 2020, according to a measure signed into law Saturday by Los Angeles Mayor Eric Garcetti that is expected to impact more than 600,000 Angelenos.
“Today is a major victory for our city, our communities and working Angelenos across Los Angeles,” Garcetti said in a statement announcing the signing.
The ordinance was the city’s largest anti-poverty measure, and will increase the minimum wage by $6 – from the current $9 per hour rate, according to the news release.
More than 600,000 people currently earn minimum wage in Los Angeles, 97 percent of which are 20 years or older and 60 percent being over 30.
The wage would also aid people of color, who account for 80…
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