NY Minimum Wage Increase

New York State’s minimum wage has increased for the first time since 2009. This long overdue revamping of New York’s minimum wage is only the beginning. The minimum wage is set to increase an additional two times over the next two years. The first increase, which took place on December 31, 2013, set the current minimum wage at $8.00 an hour. Prior to this increase, minimum wage was set at a meager $7.25 an hour, in accordance with the federal minimum wage. The following increase is set to occur on December 31, 2014, and will raise the minimum wage to $8.75 an hour. Finally, the last of the minimum wage hikes will happen on December 31, 2015, and will set the minimum wage at $9.00 an hour. The minimum wage raise has been spread out over the next 2 years in order to make it more tolerable to employers.

While any increase of the minimum wage must be seen as a victory for the hard working class, it can still hardly keep up with the cost of living in New York. Over the past year, the City of New York has seen the costs of public transportation, food, and other necessities continue to rise. While any movement whatsoever on this front is positive, it is still insufficient to alleviate the economic stress that accompanies attempting to live on the minimum wage in New York. Fitapelli & Schaffer is an ardent supporter of fighting for the working people and increasing the minimum wage.