The new year will bring a new minimum wage for New Yorkers as part of this year’s budget deal to raise workers’ minimum salary level to $9 over the next three years.
Starting Tuesday, December 31, New York’s minimum wage will go up 75 cents, from $7.25 to $8 per hour. This will put it above the national minimum wage–which has stayed at $7.25 since it was last updated in 2009.
The state wage level will rise even further over the next two years, as well, to $8.75 by the end of 2014 and then to $9 by December 31, 2015.
The increase was agreed upon in exchange for $700 million in new tax cuts to businesses and families, which will also go into effect as the new year begins.
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