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Governor Cuomo Details Impact of Minimum Wage Increase on New York Workers and the Economy

Governor Andrew M. Cuomo today detailed the projected impact from a minimum wage increase from the current $8.75 to proposed $10.50 statewide and $11.50 in New York City.

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Albany, NY - March 9, 2015 - Governor Andrew M. Cuomo today detailed the projected impact from a minimum wage increase from the current $8.75 to proposed $10.50 statewide and $11.50 in New York City. In total, more than 1.35 million workers will experience an increase in wages statewide, with the majority of benefits going to adults and women. The direct economic value across the state as a result of these higher wages is approximately $3.4 billion.
“The minimum wage should allow people who work full-time jobs to support themselves and their families – but that is just not possible today,” Governor Cuomo said. “Our proposal will help hundreds of thousands of New Yorkers better sustain themselves and live with dignity and respect. The State Legislature must pass our proposal this year, because the sweetest success is shared success and we won’t rest until we are all rising together.”
A statewide regional breakdown of the 1.35 million New Yorkers who will experience higher wages, as well as the projected direct economic value of the minimum wage increase can be viewed here.
The Governor is urging New Yorkers to join the #Fight4FairPay campaign by contacting their State Legislators; details are available on the Fight for Fair Pay website.
Why Raise the Minimum Wage?
A reasonable minimum wage can help improve the standard of living for workers, reduce poverty, encourage fair and more efficient business practices, and ensure that the most vulnerable members of the workforce can contribute to the economy. An increase in the minimum wage will affect women and adults most, and lift more than 100,000 New Yorkers out of poverty.
More than 594,000 New Yorkers earn the current minimum wage of $8.75 per hour. The State has taken action to raise the minimum wage incrementally from $7.25, when Governor Cuomo came to office, to $9.00 by the end of 2015. This progress has been important, but it has not been enough to make up fully for a trend that had seen the minimum wage fall far below the average hourly wage in the state, now over $30. The Governor proposes to again raise the minimum wage to increase earnings for many wage earners in low-income households, which will also aid local economies.
Transcript of Governor discussing minimum wage (in Rochester on March 4, 2015):
"And what we’re saying in this crusade to raise the minimum wage is if you believe in a strong economy, the New York way – the American way – then make this economy work for everyone."
"Because we believe in opportunity for all, that’s what this state and this country is all about. So we celebrate it when it’s working for the people at the top end but we celebrate it more when it’s working for every New Yorker – and that’s what this crusade is about, that’s what we want those legislators to hear in Albany and our voice says to them don’t come home to Rochester and don’t come home to New York City and Long Island until you raise the minimum wage. So you can look every New Yorker in the eye and say this government represents you and this state represents you. Thank you and God bless you."