Beginning on Jan. 1, 2014, the minimum wage for employees in Oregon will increase to $9.10 per hour, according to KTVZ. The law's passage, announced by Oregon Labor and Industries Commissioner Brad Avakian, will affect 98,000 workers.

The rise in the pay rate for minimum wage is predicted to generate more than $20 million as a result of consumers spending their extra earned income. With the increase, Oregon maintains the second-highest pay rate for minimum wage. As a result of a 2002 ballot measure, the state's Bureau of Labor and Industry adjusts the minimum wage according to fluctuations in the Consumer Price Index, according to Fox 12.

Changes to the minimum wage law will influence the way employers compensate their workers. By instituting a time and attendance policy in compliance with federal and state regulations, companies can avoid any legal penalties incurred through violations of labor laws. Avakian testified before the U.S. Senate's Health, Education, Labor and Pensions Committee explaining the system of tying the wage to inflation has given businesses a better chance of estimating payroll costs because of more stability.

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