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Wednesday
Oct252023

What's New? NY Minimum Wage Increase

DateWednesday, October 25, 2023 at 2:27PM by AuthorBanking Spectrum

The state minimum wage is scheduled to increase on January 1, 2024 to $16.00 per hour for New York City and the counties of Nassau, Suffolk and Westchester, and to $15.00 per hour for the rest of the state. In addition to this increase, recent amendments to the Labor Law provide further increases by $0.50 per year on January 1, 2025 and January 1, 2026. As required by Labor Law § 652(2), the Commissioner filed proposed regulations to amend existing wage orders. 

Read more in The Gold Book.

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