Dive Summary:

• In a speech on Wednesday aimed at addressing the current state of the U.S. economy, President Barack Obama advocated his support for increasing the federal minimum wage.
• The speech marks the first time the president established a public stance regarding the specific campaign among fast food workers, retail employees and nurses pushing for increased wages.
• Obama has previously stated he plans to support a measure in the U.S. senate which proposes raising the federal minimum wage to $10.10 per hour.

Dive Insight:

"I’m going to keep pushing until we get a higher minimum wage for hardworking Americans across the entire country. It will be good for our economy. It will be good for our families,” said President Obama in speech on Wednesday. The current federal minimum wage stands at $7.25 per hour, roughly amounting to $15,000 per year.