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Seattle approves $15 minimum wage

Seattle (CNNMoney) -- Seattle's City Council on Monday unanimously approved an increase in the city's minimum wage to $15 an hour, making it the nation's highest. 

The current federal minimum wage is $7.25.

Democrats have been pushing for a gradual increase to $10.10

The increase in Seattle will take place throughout several years based on a scale that considers the size of and benefits offered by an employer.

It will apply first to many larger businesses in 2017 and then to all businesses by 2021.

 
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