Vermont minimum wage to rise to $10.50 by 2018

MONTPELIER, Vt., June 9 (UPI) -- The minimum wage in Vermont will rise to $10.50 an hour, the highest set by any state, by 2018 under a bill signed Monday by the governor.

The measure sets the minimum for employees who get tips at half that. The current minimum wage for non-tipped employees is $8.73.

"I'm incredibly proud of Vermont today for being able to sign -- for sending me a minimum wage bill that gives hard-working Vermont families a fair wage at the end of the week," Gov. Peter Shumlin said.

Some cities have recently set minimum wages even higher with Richmond, Calif., adopting $13 an hour, and Seattle $15, which would take effect over the next seven years. Chicago is considering a $15 minimum hourly rate.

In May, Maryland approved an increase to $10.10 an hour by 2018, while Michigan raised its minimum to $9.25.