Increases to New York Minimum Wage Beginning on January 1, 2024

As part of the Fiscal Year 2024 New York State Budget (the “Budget”), Governor Kathy Hochul and the New York State Legislature agreed to a multi-year plan to increase the State’s minimum wage through 2026. Beginning on January 1, 2024, New York’s Minimum Wage will gradually increase to keep pace with inflation and the rising cost of living throughout the State.

The Budget provides increases to the minimum wage as follows:

 

 

Effective Date:

 

NYC, Long Island, and Westchester

 

Remainder of New York State

January 1, 2024 $16.00 / hour $15.00 / hour
January 1, 2025 $16.50 / hour $15.50 / hour
January 1, 2026 $17.00 / hour $16.00 / hour

 

This Budget legislation, signed by Governor Hochul on May 3, 2023, amends Section 652 of the New York Labor Law (“NYLL”), as well as NY’s Minimum Wage Order for Miscellaneous Industries and Occupations, to include these new statutory minimum wage rates. This legislation, unlike prior New York minimum wage increases, applies to all New York employers regardless of their size.

 

As we approach the new year, New York employers should review their payroll practices and policies to ensure they pay their hourly employees at least the increased minimum wage rate.

 

If you have questions or concerns regarding this legislation, please contact Chaim Book at CBook@booklawllp.com, Nadav Zamir at NZamir@booklaw.com, or Sheryl Galler at SGaller@booklawllp.com.

 

Disclaimer: The information provided in this blog post is for general knowledge purposes only and should not be considered legal advice. For specific guidance tailored to your situation, it is advisable to consult with a qualified employment law professional.

 

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