From Fortune:

New York’s minimum wage got a raise on New Year’s Day, jumping to $16 in the city and its suburbs and $15 in the rest of the state. The state’s minimum wage is set to increase annually until it reaches $17 and $16, respectively, by 2026, with future hikes tied to inflation. This bump comes amid a nationwide trend, with 22 states increasing their minimum wage this year. California’s rate is now $16, up from $15.50, while Connecticut’s is now $15.69, up from $15. Last year, New York Gov. Kathy Hochul and the state Legislature struck a deal to raise the minimum wage, despite objections from both employers and some liberal Democrats who felt it wasn’t enough. The federal minimum wage has remained at $7.25 per hour since 2009, with 30 states setting their own, higher minimum wages.



Read more: New York’s minimum-wage workers celebrated a pay bump as the clock ticked over to 2024