NEW YORK AND NEW JERSEY MINIMUM WAGE INCREASES IN YEAR 2015
The new year brings an increase in the hourly minimum wage for workers in various states, including New York and New Jersey. Effective December 31, 2014, the minimum wage rate in New York state rose 9% from $8.00 to $8.75 per hour, and New Jersey’s minimum wage rate modestly increased from $8.25 to $8.38. Although New York’s minimum wage rate is again set to increase to $9.00 per hour by the end of 2015, Governor Cuomo announced a proposal yesterday which would raise the minimum wage to $11.50 an hour in New York City and $10.50 an hour in the rest of the state, if passed by the legislature. Cuomo stated that a wage increase was necessary due to New York’s high cost of living.