When is minimum wage going to increase again in New York? As businesses struggle to recover from the coronavirus pandemic the question is a difficult one. Proponents of higher wages say that’s exactly what’s needed to get people back to work. However, opponents say raising minimum wage any more will put greater pressure on small businesses — forcing some to close.
For several years, New York State was pushing toward a $15 minimum wage mandate across all regions. While New York City has reached that threshold — that isn’t the case Upstate.
An exception here is in the fast food industry — where $15 is the established, hourly wage for all workers.
When will minimum wage reach $15 for all workers in New York?
At this point, minimum wage is $12.50 an hour. The state typically releases updated guidance on the following year by October 1.
The state tells News10NBC that this schedule is expected to hold true. “Increases for the rest of the state will continue until the rate reaches $15 minimum wage (and $10 tipped wage),” an official told them. “The annual increases will be published by the commissioner of labor on or before October 1.”
The spokesperson for the state Department of Labor says that the percent increase in minimum wage will be based on economic indices, including the consumer price index.
The bottom line: It could be a while before minimum wage hits $15 an hour.
What can we expect for minimum wage in 2022?
A look back at the last several years of wage increases shows an average jump of 70 cents annually. That means minimum wage would likely increase from approximately $12.50 to $13.20 an hour — if that pace holds true.
It’s unclear how inflation might factor into that, as that economic indicator has received a lot of attention this year.
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