Minimum-wage contractors can expect a pay raise next year

Employees working on new contracts will earn at least $10.10 per hour. The Labor Department posts its final rule on the Federal Register. It follows an executive order from President Barack Obama in February. The rule is effective starting January 1st. After that, the Labor Secretary will determine the pay increase each year. Obama wants to raise minimum wage for all federal employees. Right now, it's $7.25 per hour.