New York Minimum Wage – To Raise or Not To Raise

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Minimum wage increases are a hot topic today. New York is among many states where minimum wage-related labor law legislation is being considered. In fact, according to the National Conference of State Legislatures (NCSL) as of March 7th, 2012, 23 states introduced bills to raise the minimum wage during their 2012 legislative sessions.

Minimum Wage legislation in New York is making headlines, especially since unemployment following the Great Recession of 2008-09 continues to be an issue. Lawmakers have proposed bills to increase the minimum wage upwards of $8.25 per hour; however, at this time numbers suggest more lawmakers oppose increases in the minimum wage rate than support it. Those in opposition to increases complain it will hurt businesses and cause layoffs or business closures. Conversely, supporters speculate that increases will stimulate the economy. Reports indicate that New York families have smaller incomes and face fewer job opportunities now than they would have faced if unemployment was at pre-recession levels.

The question of whether raising state and federal minimum wage rates is good for the economy remains the subject of much debate. For those states with pending minimum wage legislation it is a pressing question; one that will be answered with either the passing or failure of those minimum wage bills. Compliance Poster Company’s Legal Research Department team is tracking all employment and health and safety-related legislation for all 50 states and the US Congress (Federal Government). The Research Team will promptly report meaningful progress of minimum wage and employment-related legislation as information becomes available. For a comprehensive list of current minimum wage rates as compiled by United States Department of Labor Wage and Hour Division (WHD) click here.