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The task force Mayor Rahm Emanuel appointed to investigate the possibility of raising Chicago’s minimum wage, says the city should hike it to $13 an hour.

The increase would occur over four years. But the city should wait until Illinois leaders attempt to raise the state minimum wage at the end of this year, the group said in a report released Monday. That way, the hike does not put Chicago at an competitive disadvantage to the rest of the state.

“A minimum wage of $13 takes into account higher costs of living in Chicago as compared to the rest of the state and would increase the earnings for 31% of Chicago workers.,” the report says.

Mayor Emanuel tasked the Minimum Wage Working Group in May with drafting plan for raising Chicago’s minimum wage. The group consisted of laborers, business owners and politicians.

Alderman Will Burns (4th) co-chaired the task force.

“More than 400,000 Chicago workers will benefit from our Working Group’s proposal,” Burns said.

Read the Working Group’s full report below.

Chicago Minimum Wage Task Force Report