Posted at: 11/07/2012 7:51 AM
By: KOB.com staff
Albuquerque voters have overwhelmingly approved a proposal that would raise the minimum wage in the city from $7.50 to $8.50 a hour.
Voters approved the measure with 139,143 votes for to 70,952 against - a 66 percent to 34 percent margin.
Supporters had said the proposal would boost economic activity by putting more money in the hands of low-income workers, provide extra income to people in need and return profits to workers rather than sending money to out-of-state corporations.
Opponents claimed the proposal would hurt businesses, make Albuquerque less competitive by discouraging companies from expanding or relocating to the city and result in higher prices, job losses and reduced hours for employees.