New York living wage, what is ? Let’s look at what it will be in 2021 and 2022. This is a goal worth pursuing, but implementing a living wage law would make it harder for employers to create new jobs. We spoke to two industry experts who said they were opposed to living wage legislation, Pat Brodhagen, vice president of public affairs for the Food Industry Alliance of New York State, and Mary Ann Rothman, executive director of the Council of New York Cooperatives & Condominiums.
What is a New York living wage ?
New York City has recently proposed a law that would raise the minimum wage to at least $15 per hour. This legislation would provide a living wage for the lowest-paid employees and would cut down on the wage gap between women and men. However, the proposal has been stalled in the legislative session of 2022. However, a group of liberal lawmakers in Tompkins County has pledged to introduce the legislation again in 2023.
To meet the definition of a livable wage, the minimum wage must cover the costs of childcare, housing, and transportation. In New York City, the average rent for a studio or one-bedroom apartment is over $2500 per month. An unlimited subway pass costs $127 per month. In addition, an average yearly childcare bill is more than $16,000.
The Living Wage Calculator is useful for determining how much an individual must earn to meet basic needs. The rate is based on an assumption that the sole provider of the household works full-time (2080 hours per year). The calculator provides information on the hourly rate of an individual or a family with zero to three children.
The state’s minimum wage is linked to the cost of living, inflation, and productivity. Eighteen other states already index minimum wages annually based on prices. If New York does the same, it would be the first state to index the minimum wage to both price changes and the economy’s ability to create income.
New York living wage in 2022
In a recent survey, 95% of New Yorkers said they support raising the minimum wage to a living wage of $20 or more. Most Democrats and independents said they supported the idea. But, the issue is far from settled. While state lawmakers are working on a bill to raise the minimum wage to $20 by 2022, advocates are wary of the process.
The minimum wage increase is designed to improve the economic security of workers in low-wage jobs. For example, it would increase the annual wages of workers under the poverty line by $3,613 in New York City and $1,275 in suburban counties. It would also help reduce the gender wage gap. In NYC, the increase would benefit nearly 20.1% of working men, but nearly 33% of women would benefit from the increase. For those living in Nassau, Suffolk, and Westchester counties, the increase would be around $1,077.
The wage increase will have the greatest impact on workers in New York City, where two-thirds of the workforce is of prime age. By contrast, suburban counties have a greater percentage of prime-age workers (51.2%). And upstate areas have a lower percentage, with 39.9% of prime-age workers making less than $7 per hour.
Fast-food employees in New York are currently paid $15 an hour. However, the new minimum wage must be approved by a formal rule-making process, which includes a public comment period. Interested New Yorkers can send their input to the Labor Department by email. The deadline for comments is Dec. 11.
New York living wage in 2021
New York has created three different minimum wages for each county. The minimum wage is calculated using the EPI, or Economic Product Index. This index considers both productivity and the price of goods and services. It also takes into account the Fair Labor Standards Act and its amendments. The Bureau of Labor Statistics calculates total productivity in the economy. It uses data on average hourly wages for production and nonsupervisory workers, as well as current employment statistics.
The minimum wage legislation in New York is unique in that it links future increases to inflation and labor productivity. While 18 other states automatically adjust their minimum wages based on inflation, New York is the first state to index its minimum wage to both changes in prices and the overall productivity of the economy. This would create a significant impact on the economic security of workers and reduce poverty in New York.
While business organizations are likely to oppose an upward change in the minimum wage, it is important to remember that wage workers have made significant gains over the past decade. Amazon and Starbucks workers both organized successful union drives, and a number of employers voluntarily increased their hourly minimum wage to compensate for labor shortages. Assemblywoman Latoya Joyner is a strong supporter of a bill that ties the minimum wage to inflation.
The proposed increase in minimum wage would benefit low-wage workers with children. It would also reduce gender wage gaps. The increase in minimum wage would impact an additional twenty-one percent of working men in NYC and Nassau, Suffolk, and Westchester counties. In contrast, women workers would see a 16.4% increase in wages in the state.
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