Gov. Hochul’s New Plan Will Give Raises To Many In New York State
Governor Kathy Hochul unveiled a new plan that will put more money in the paychecks of many workers in New York State. The minimum wage rate just increased on December 31, 2022, in many places around the state. New York has been increasing the minimum wage incrementally every year since December 31, 2016. Some states have a ridiculously low minimum wage, which has created a class of "working poor."
Gov. Hochul Unveils Plan To Tie Minimum Wage To Inflation
During her first State of the State address in 2023, Gov. Hochul detailed her plan. In her proposal, New York will index or tie the minimum wage to inflation. Each year, New York State would raise the minimum wage by the Consumer Price Index for Wage Earners for the Northeast Region, which measures inflation. The Gov. says doing this would help hundreds of thousands of residents see more money in their paychecks. As we have all seen, inflation has been hitting many New Yorkers hard, increasing the prices of everything from groceries, gas, rent, clothing, medicine, and more. Gov. Hochul said,
If we really want to tackle the affordability crisis head-on, we must recognize that low-wage workers in New York have been hit hardest by the increases in costs of living. Our commonsense plan to peg the minimum wage to inflation will not only put more money into the pockets of hundreds of thousands of hardworking New Yorkers, it will also provide predictability for employers and spur more spending in local economies and businesses.
Many In New York State Will See More Money In Their Paychecks Starting Today
The minimum wage in New York will increase each year on New Year's Eve until it reaches $15 per hour. New York City and Long Island/Westchester workers already reached $15 per hour in 2019 and 2021, respectively. Around the rest of the state, the minimum wage increased again on December 31, 2022. The hourly wage has gone up by $1, from $13.20 to $14.20.
Businesses that don't comply with New York's minimum wage law will face costly consequences. They may be forced to pay the employee interest, as well as penalty fines,
Minimum wage underpayments and liquidated damages, PLUS
Interest and civil penalties up to 200% of the unpaid wages
If your employer is not abiding by the law, you can contact 1-888-4NYSDOL (1-888-469-7365) or download a complaint form here.