New York Businesses Brace for Next Minimum Wage Increase
New York Governor Andrew Cuomo is putting out a reminder that another phase in the raising of the minimum wage will take effect December 31.
The Governor’s office says the next step in raising the base pay is being taken after a required report by the Division of Budget found the state’s unemployment rate has declined, indicating last year’s minimum wage increase has been absorbed with negligible, if any impact on labor demand in every region in New York.
Last year, New York City’s minimum wage went to $15 for companies employing more than 11 people. That $15 rate applies to companies employing ten or fewer this year. Other areas Downstate will have the minimum wage go to $13 an hour. The wage will go to $11.80 an hour for areas outside of New York City and Long Island at the end of the year.
At the end of next year, the minimum wage will be $12.50 for upstate areas.
The increases for following years will be set by the Director of the Division of Budget when labor numbers are evaluated.