"New York Ushers in 2024 with Minimum Wage Hike and Key Legal Reforms"
TL;DR Summary
As of January 1, 2024, New York's minimum wage rose to $16 in New York City and select suburbs, and to $15 in the rest of the state, marking the first in a series of planned annual increases. These increases are part of a strategy to eventually reach a $17 minimum wage in NYC and its suburbs, and $16 elsewhere in New York by 2026, with future adjustments linked to inflation. This change reflects a broader trend across 22 states, with New York's decision stemming from an agreement between Governor Kathy Hochul and the state Legislature, despite some opposition.
Topics:nation##economicpolicyinstitute#economy#inflationadjustment#laborpolicy#minimumwageincrease#newyork
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