U.S. President Barack Obama says the executive action he took this week requiring federal contractors to pay employees at least $10.10 per hour is a step toward restoring opportunity for all.
The president said in his weekly address Saturday these federal contractors are the workers "who serve our troops' meals, wash their dishes, care for our veterans."
Mr. Obama said the economy has been growing for four years, but wages for the average worker have "barely budged," while "those at the top are doing better than ever."
President Obama said that's why the United States needs to build an economy "that works for everybody, not just a fortunate few."
He called on lawmakers in Congress to pass a bill that would raise the federal minimum wage to $10.10 an hour.
The president said the passing of the bill would lift millions of Americans out of poverty and help millions more work their way out of poverty without requiring a single dollar in new taxes or spending.