Minimum Wage in San Francisco – To raise from $10.74 on Jan.1 to $15 in 2018

San Francisco on Tuesday became the second U.S. city to raise its minimum wage to $15 an hour.

Voters overwhelmingly approved a ballot measure to gradually raise the city’s minimum wage from $10.74 currently. It passed with 77% of the vote, according to initial results reported by local authorities.

The decision follows Seattle’s approval in June to raise its minimum wage to $15, the highest level in the nation.

Under the new law, wages will rise to $11.05 on Jan.1 , then $12.25 in May before increasing every year until they reach $15 in 2018. After that, increases will be tied to inflation in the Bay Area.

San Francisco Mayor Edwin Lee applauded the result and said voters “sent a message loudly and clearly” that “we can take on the growing gap between rich and poor.”

Chosen excerpts by Job Market Monitor. Read the whole story at San Francisco votes in $15 minimum wage – Nov. 5, 2014.