Minimum wage in Chicago increases on July 1

You could soon be seeing more money in your paycheck, with the city raising its minimum wage.

The change takes effect July 1 as part of a city ordinance. The minimum wage will be raised from $11 to $12 an hour. Mayor Rahm Emanuel says the minimum wage will rise to $13 an hour by next summer.

That means more than 400,000 Chicagoans are getting a raise. It represents a 45 percent increase since 2011. Back then, the wage increased to a little bit over $10.

After the city’s minimum wage hits $13 next year, future wage increases will be tied to the rise in the Consumer Price Index so that prices on retail goods remain steady.

This puts Chicago well ahead of the rest of the state. Illinois’ minimum wage is still at $8.25. The Cook County’s minimum wage will also increase Sunday from $10 to $11 an hour for cities and towns that haven’t opted out.