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NYPIRG STATEMENT ON MINIMUM WAGE INCREASE (S.7682-A)
The New York Public Interest Research Group congratulates the New York State Senate and Assembly for overriding the Governor’s veto on the minimum wage bill.
“A rising tide lifts all boats. Hundreds of thousands of New Yorkers will get a raise as a result of today’s override vote. In a legislative session that has produced more cynicism than concrete results, it is commendable that the State’s leadership has acted on this vital issue,” said Joel Kelsey, NYPIRG’s Chairperson.
Minimum Wage:
The Facts
 The current $5.15 minimum wage yields: $10,712 per year (assuming 52 weeks of 40 hours per week).
Twelve States and the District of Columbia have minimum wages higher than the federal minimum, including Connecticut ($7.10), Massachusetts ($6.75), and Vermont ($6.75).
An increase in the minimum wage to $7.15 will likely benefit well over 1 million New Yorkers: approximately 700,000 workers now make between $5.15 and $7.14 per hour. Approximately 500,000 additional workers earn between $7.15 and $8.00 per hour; these workers are also likely to benefit from an increased minimum wage.
An increase in the minimum wage primarily benefits working adults. Approximately three out of four workers earning between $5.15 and $7.15 are 20 years of age and older.
Fiscal Policy Institute report Raising the Minimum Wage in New York: Helping Working Families and Improving the State’s Economy.
Fiscal Policy Institute. New York State Minimum Wage Increase: Myth vs. Reality.
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