→ MILLIONS OF MINIMUM WAGE WORKERS and federal contractors are due for a raise, thanks to new laws and regulations that take effect in 2022. According to an executive order signed by President Biden in April, federal contractors will earn a minimum wage of $15 an hour in all new agreements with government agencies beginning January 30, up from a mandated $10.95 currently. The increase is expected to help some 327,000 workers, according to the Labor Department, but only applies to new contracts; workers on existing federal contracts won’t see the benefit until the current one expires.