President Obama signs an executive order to raise minimum wage for federal contract workers to $10.10 an hour starting next year. He also encouraged employers nationwide to increase wages for their workers. The executive order will affect workers starting on January 1st, 2015, and applies to new contracts and replacements for expiring contracts. Alabama does not have a minimum wage beyond the federal requirement of $7.25 an hour. Alabama lawmakers say raising the minimum wage will help Alabama by pouring more money into the economy.