Former GOP presidential nominee Mitt Romney said Friday he supports raising the minimum wage, splitting from many Republicans who have fought against an increase. Romney made his comments in an interview on MSNBC's "Morning Joe."

"I, for instance, as you know, part company with many of the conservatives in my party on the issue of the minimum wage. I think we ought to raise it," Romney said. "Because frankly, our party is all about more jobs and better pay."

Senate Republicans blocked a bill to raise the minimum wage to $10.10 last month. That legislation was supported by Democrats and President Barack Obama. Currently, the federal minimum wage is $7.25 an hour.

Romney also discussed the next presidential election in the interview and said he's "not running for president in 2016."

"I think our best prospects of getting back the White House are with someone who has not run twice before as I have," he quipped.

Watch the full interview below.