On July 1st, the minimum wage in the Portland Metro area increased to $15.95. The Oregon legislature implemented a phased increase to the minimum wage starting in July 2016, continuing through 2022. Since last July, the rate has been adjusted annually for inflation, resulting in the new rate of $15.95 effective from July 1st, 2024. This marks a 75% increase over the past 10 years.
Although the minimum wage rate does not directly impact us, it does indirectly. Nationally, only 1.4% of workers earn minimum wage. We have always paid above minimum wage for our entry-level positions. Our work is more demanding, requiring additional effort and training compared to most traditional minimum wage jobs. Our current entry-level wage is $20.00, and our average wage is $22.77. These figures have increased by 81% over the past 10 years and by 19% over the past 3 years, driven by historically low unemployment levels and a strong economy. Portland Metro Area sits at just 3.4% unemployment, nearing a record low.
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