A Pay Bump For Minimum Wage Workers Kicks In In NY

[TTL News 308]

Quote

 

ALBANY, N.Y. (AP) — New York’s minimum-wage workers had more than just the new year to celebrate Monday, with a pay bump kicking in as the clock ticked over to 2024.

In the first of a series of annual increases slated for the Empire State, the minimum wage increased to $16 in New York City and some of its suburbs, up from $15. In the rest of the state, the new minimum wage is $15, up from $14.20.

The state’s minimum wage is expected to increase every year until it reaches $17 in New York City and its suburbs, and $16 in the rest of the state by 2026. Future hikes will be tied to the Consumer Price Index for Urban Wage Earners and Clerical Workers, a measurement of inflation.

 

Read more here.

[Rod 18]

does that mean theyll still stand around being useless or actually work now

[Ann 264]

Raising minimum wage does no good if you are working less hours.

[MsKreed 1,186]

8 hours ago, Elmira Telegram said:

Future hikes will be tied to the Consumer Price Index for Urban Wage Earners and Clerical Workers, a measurement of inflation.

The Consumer Price Index (CPI) is an aggregated compilation of retail prices that consumers pay for a "basket of groceries".

Any increase in employment costs is passed on to the consumer.... which raises the CPI. 

So.....Raising the minimum wage will trigger a rise in the CPI, and the rising CPI will be a trigger to raise minimum wage. 

Brilliant!

Edited January 2 by MsKreed

[Lawana Morse 55]

Increased payroll taxes being collected at a faster rate and increased worker's comp... so who truly benefits from a hike in wages? 

[Chris 2,179]

1 hour ago, Lawana Morse said:

so who truly benefits from a hike in wages? 

Whoever is in office and running for re-election. 

[Hal 341]

On 1/1/2024 at 2:03 PM, Ann said:

Raising minimum wage does no good if you are working less hours.

Joe the burger flipper reacting to their minimum raise hike … 😃😁woo hoo ! Bill the burger muncher on seeing the price of the turd maker he just overpaid for 😳😤! Leads back to Joe when he see’s his hours have been cut because the cost of doing business after that great minimum pay raise 😩😭! 
But hell Goobernor , lets just keep throwing “ buy the vote “ money out there to sucker more votes because , well , ol’ Joe the burger flipper soon forgets the results of the last pay hike , throws his vote behind whoever is promising another … then its rinse and repeat ! 
PS , I know a lot of folks don’t like emojis but they make for shorter posts between coffee’s .