President Obama's Executive Order requiring certain federal contractors and subcontractors to pay an increased hourly minimum wage includes a mandate that the Secretary of Labor determine increases to the wage rate on an annual basis.

The Secretary has announced that, effective January 1, 2016, the new minimum wage will be increased from $10.10 to $10.15 per hour and that the rate for tipped employees will rise from $4.90 to $5.85 per hour.