ALBANY, N.Y. — New York‘s minimum-wage employees had extra than simply the brand new 12 months to have fun Monday, with a pay bump kicking in because the clock ticked over to 2024.
Within the first of a collection of annual will increase slated for the Empire State, the minimal wage elevated to $16 in New York Metropolis and a few of its suburbs, up from $15. In the remainder of the state, the brand new minimal wage is $15, up from $14.20.
The state’s minimal wage is predicted to extend yearly till it reaches $17 in New York Metropolis and its suburbs, and $16 in the remainder of the state by 2026. Future hikes will probably be tied to the Client Value Index for City Wage Earners and Clerical Staff, a measurement of inflation.
New York is one in every of 22 states getting minimal wage rises within the new 12 months, based on a current report by the Financial Coverage Institute.
In California, the minimal wage elevated to $16, up from $15.50, whereas in Connecticut it elevated to $15.69 from the earlier fee of $15.
This most up-to-date pay bump in New York is a part of an settlement made final 12 months between Democratic Gov. Kathy Hochul and the state Legislature. The deal came visiting the objections of some employers, in addition to some liberal Democrats who mentioned it didn’t go excessive sufficient.
The federal minimal wage in america has stayed at $7.25 per hour since 2009, however states and a few localities are free to set greater quantities. Thirty states, together with New Mexico and Washington, have completed so.
