Jaclin Enrichetta

New York State Minimum Wage Increase 2024 For Employers. As part of the fy 2024 budget, governor hochul secured an historic agreement to increase new york’s minimum wage through 2026 and index it to inflation beginning in 2027. The agreement between governor hochul and the new york state legislature establishes a new minimum wage of $16 per hour for new york city, westchester, and long island, while the rest of the state will see an increase to $15 per hour.

After the initial increase, the minimum wage will increase by $0.50 in 2025 and 2026. Governor kathy hochul signed senate bill s4006c into law on may 3, 2023, increasing new york’s minimum wage in annual increments beginning january 1, 2024.