New York State Minimum Wage Increase 2024 Schedule

New York State Minimum Wage Increase 2024 Schedule. 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. Minimum wage rates in new york state will be raised incrementally each year, on january 1, until the minimum wage reaches $17 per hour in new york city,.

On may 3, 2023, governor kathy hochul signed the new york state 2024 budget agreement into law, which contained increases to the state’s minimum wage,. We estimate that the resulting increases in the state minimum wage would lift wages for more than 2 million new yorkers through 2026.