Unlike many of his colleagues in the Republican Party, Mitt Romney has declared that he is in favor of a minimum wage hike.

The former Massachusetts Governor announced Friday morning that he supports an increase in the minimum wage, although many seated officials on the Right refuse to support President Obama's effort to raise the wage to $10.10.

"I, for instance, as you know, part company with many of the conservatives in my party on the issue of the minimum wage," the 2012 GOP presidential nominee said during an interview on MSNBC's "Morning Joe," according to CNN.

"I think we ought to raise it, because frankly, our party is all about more jobs and better pay, and I think communicating that is important to us," Romney added.

Romney's comments come a week after all but one Senate Republican shot down a bill pushed by Democrats to raise the wage to $10.10 per hour.

Other GOP 2012 presidential nominees have also recently spoken out in support of a wage hike, including former Minnesota Gov. Tim Pawlenty and former Sen. Rick Santorum. They are also considering another White House bid in 2016.

Despite making two failed attempts to become president, Romney was asked if he would consider another run for the highest office in 2016.

"I'm not running for president in 2016," he stated. "I think our best prospects of getting back the White House are with someone who has not run twice before as I have."

He also said that Republicans have a strong group of candidates to choose from in 2016, mentioning some by name.

"You know some of my favorites," Romney said, reports Politico. "Paul Ryan, of course. I love Paul; we were a great team together. But Chris Christie and Jeb Bush and Rob Portman. The list is long. Scott Walker. There are a lot of fellows and hopefully some women, as well."