[US] New York’s ball drop ushers in a pay bump for minimum wage workers

The morning after the iconic Times Square ball drop, a 2024 pay bump kicked in for New York's minimum wage workers, The Independent reports.

The New Year’s rise is the first of a series of annual increases slated for the state. The minimum wage increased to $16 in New York City and some of its suburbs, rising from $15. In the rest of the state, the new minimum wage is $15, up from $14.20.

The state's minimum wage is reportedly set to increase every year until it reaches $17 in New York City and its suburbs, and $16 in the rest of the state by 2026. Future bumps will be tied to the Consumer Price Index for Urban Wage Earners and Clerical Workers, a measurement of inflation.

New York is one of 22 states to see minimum wage rises in the new year, according to a recent report by the Economic Policy Institute.

California’s minimum wage increased to $16, up from $15.50, while in Connecticut minimum pay increased to $15.69 from the previous rate of $15.

This most recent pay bump in New York is part of an agreement made between Governor Kathy Hochul and the state Legislature. The deal was reached despite the objections of some employers and some liberal Democrats who reportedly said it wasn’t high enough.

The US federal minimum wage has remained at $7.25 per hour since 2009, however, states and some localities are free to set higher amounts. Thirty states have done so, including New Mexico and Washington.

Source: The Independent

The morning after the iconic Times Square ball drop, a 2024 pay bump kicked in for New York's minimum wage workers, The Independent reports.

The New Year’s rise is the first of a series of annual increases slated for the state. The minimum wage increased to $16 in New York City and some of its suburbs, rising from $15. In the rest of the state, the new minimum wage is $15, up from $14.20.

The state's minimum wage is reportedly set to increase every year until it reaches $17 in New York City and its suburbs, and $16 in the rest of the state by 2026. Future bumps will be tied to the Consumer Price Index for Urban Wage Earners and Clerical Workers, a measurement of inflation.

New York is one of 22 states to see minimum wage rises in the new year, according to a recent report by the Economic Policy Institute.

California’s minimum wage increased to $16, up from $15.50, while in Connecticut minimum pay increased to $15.69 from the previous rate of $15.

This most recent pay bump in New York is part of an agreement made between Governor Kathy Hochul and the state Legislature. The deal was reached despite the objections of some employers and some liberal Democrats who reportedly said it wasn’t high enough.

The US federal minimum wage has remained at $7.25 per hour since 2009, however, states and some localities are free to set higher amounts. Thirty states have done so, including New Mexico and Washington.

Source: The Independent