New York State has a new minimum wage law on the horizon, and it has been a long time coming. The new law, slated to take effect at the end of 2013, will see an increase from $7.25 to $8.00, then set to increase again in 2014 and in 2015. This will affect the work forces in multiple counties.
In a study from 2011, it was predicted that the minimum wage law will affect almost 800,000 workers across the state or almost 10% of the state labor force.
Those who oppose the law claim it will prove to be detrimental to the economy, but supporters say it will put the funding in the hands of the people who will spend it. This supporters say, helps stimulate the economy.
While some early opponents felt it would be catastrophic to implement, they quickly came on board when they were informed the change would be gradual, thereby giving businesses the opportunity to adjust to the coming modifications. Various chamber positions are that the law will provide an equitable chance to earn a living for everyone, especially for those starting out, and not as a lifelong option.
Experts state that not all businesses will be implementing the new minimum wage law, and some fast-food businesses still have lower than average minimum wages. This lower wage is in place for many restaurant and certain service industry places of employment that include tips. On the other hand, many restaurants far surpass the minimum wage, making as much as $20 an hour, but the general expectation is that the new minimum wage law will have far-reaching effects.
Increasing the minimum wage, regardless of other agendas or politics, will be a huge step forward to help those workers in the state who are working full-time and still barely breaking the poverty level.
Source: leaderherald.com, “Employers work to prepare for new minimum wage” Jason Subik, Dec. 22, 2013