California Senate Passes Wage Hike

    Paycheck, close-up

    Steve Cole/Getty

    The nation's most populous state is about to give its workers a raise. On Thursday, the California Senate approved a bill to hike minimum wage up to $10 an hour by 2016. It's expected to pass the Assembly, and Governor Jerry Brown has pledged to sign it. The current hourly rate is $8, but it will rise to $9 in July 2014, and to $10 by January 2016. "The minimum wage has not kept pace with rising costs," Brown said in a statement. "This legislation is overdue and will help families that are struggling in this harsh economy." Republicans have been critical of the bill, which they say will hurt small business owners.

    Read it at Reuters