Mayor Eric Garcetti finally disclosed the worst-kept secret in local politics on Monday, formally announcing his plan to increase the minimum wage in the city of Los Angeles to $13.25 per hour. The mayor discussed his proposal amongst a throng of supporters hosting a Labor Day rally at Martin Luther King Jr. Park.

SEE ALSO: City Council Steps Toward $15 Minimum Wage For Hotel Workers

The mayor’s “Raise The Wage LA” proposal would increase the minimum wage in L.A. to $10.25 per hour in the first year. The minimum wage would increase $1.50 each subsequent year until it reaches $13.25 per hour.

According to Garcetti's figures, 27 percent of the city's residents live at or below the poverty level. The minimum wage in California is currently $9 per hour.

Neon Tommy will be providing in-depth coverage of the mayor’s proposal throughout the week. You can read more at CBS Los Angeles.

Reach Editor-in-Chief Will Federman here. And follow him on Twitter.