New minimum wage in New York 2024: how much it will increase and when it takes effect

New York State is preparing to increase the minimum wage in early 2024. It is one of 30 states in the country that have base hourly wages higher than the federal minimum wage of $7.25 per hour, which has not increased since 2009.

Currently, the Empire State minimum wage is $14.20 but starting January 1, 2024, workers will receive more. Additionally, certain areas of New York will see increases above the benchmark wage for the rest of the state. Here all the details.

How much will the minimum wage increase in New York in 2024?

Beginning January 1, 2024, the minimum wage in New York will be $15, except in New York City (NYC) and Nassau, Suffolk and Westchester counties, where the minimum wage base will be higher next year.

In addition to this increase, automatic increases are expected beginning in January 2025 and early 2026. In May, Governor Kathy Hochul’s office reported that the minimum wage will increase by an additional $0.50 each year, so that by 2025 it will increase to $15.50 and $16 per hour by 2026.

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In order not to affect the purchasing power of New York workers, the increases will continue after 2026. Starting in 2027, the increase in the minimum wage will be calculated based on the Retail Price Index. Consumer for Urban Wage Earners and Office Workers (CPI-W) of the Northeast region.

“Indexing the minimum wage to inflation will help maintain the purchasing power of workers' wages year after year. And raising the minimum wage would overwhelmingly benefit low-income workers, particularly women and people of color, who make up a disproportionate share of minimum wage workers,” notes a statement from the office of the governor.

While most of the state will have a wage of $15 an hour next year, the minimum wage in New York City (NYC) and Nassau, Suffolk and Westchester counties will increase from $15 to $16 hourly starting January 1, 2024.

The states that will increase their minimum wage in 2024

New York is not the only state that will raise its minimum wage next year. In total, there are 25 states that will increase their base salary, 22 of them as of January 1, 2024; Nevada and Oregon in July and Florida in September. Here is the complete list: