Minimum wage: annual adjustment.

Existing law requires that, on and after January 1, 2008, the minimum wage for all industries be not less than $8.00 per hour. This bill would increase the minimum wage, as of January 1, 2013, to not less than $8.50 per hour. This bill would provide for an adjustment to the hourly minimum wage on January 1, 2014, and annually thereafter, to maintain employee purchasing power. The automatically adjusted minimum wage would be calculated using the California Consumer Price Index, as specified. The bill would prohibit the Industrial Welfare Commission from adjusting the minimum wage downward and from adjusting the minimum wage upward if the average percentage of inflation for the previous year was negative. The bill would require the Industrial Welfare Commission to publicize the automatically adjusted minimum wage. This bill would provide that the commission may increase the minimum wage in an amount greater than the formula would provide.