Since 2016, minimum wage has been rising, from $9.70 an hour to a projected increase of $15 an hour by 2021. The rise in minimum wage means that employees can maintain a better standard of living.
“New York proudly set an example for the nation by raising the minimum wage to $15,” said Governor Andrew Cuomo said in a statement. “The fight for economic justice for our working families continues, and we won’t stop until every New Yorker is paid the fair wages they deserve.”
However, some New Yorker’s are concerned that the increase in minimum wage means that employees will reduce their hours. Small business owners with limited budgets may find themselves unable to pay their employees.
Most New Yorker’s, however, are greeting the change in minimum wage optimistically.