New York State workers are going to be getting a pay increase on January 1st for the next 2 years. This year, when the clock strikes midnight on January 1, you will be getting paid 50 cents more. In addition, New York State has announced that the minimum wage will be going up AGAIN in 2027.
Experts expect that the exact amount will be announced by late 2026.
What is New York State’s Minimum Wage Going Up To in 2027?
In 2023, New York State pre-decided how much the minimum wage would go up all the way through the end of 2026, but what about when that was over? There is NOT going to be a pre-determined amount years in advance. Now, according to the New York State website, the State will rely on a Consumer Price Index to find out the inflation ratio next year and then set the minimum wage. What workers can expect is that the minimum wage amount for 2027 will be announced in the next few months, so that workers and businesses can prepare for the change before the 2026 year is over.
The minimum wage is scheduled to increase by another $0.50 in 2026 and then increase annually starting in 2027 at a rate determined by the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W) for the Northeast Region – the most accurate regional measure of inflation. An “off-ramp” is available in the event of certain economic or budget conditions.
How much was the minimum wage when you were growing up? It certainly did not go up the way that it is nowadays.
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