What you should know about NY minimum wage increase on December 31

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Millions of minimum wage workers will be getting a pay raise with the new year.

OH voters approved the annual adjustments in a 2006 constitutional amendment. Some cities in California, Santa Fe in New Mexico, and the whole state of Nevada, are planning minimum wage increases on July 1. "But it's motivated many of them to accept that we need higher minimum wages than we now have in much of the country".

Workers in lower-cost areas will benefit the most from the increases, said Paul Sonn, state program policy director at NELP.

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Workers at small businesses in NY will receive $1.50 an hour minimum wage hike, from $12 to $13.50.

According to the Labor Ministry, the minimum wage consisting of only basic pay and fixed allowances had caused employers to violate the Minimum Wage Act even if they paid high salaries consisting of low basic wages and large bonuses.

According to Floridajobs.org, the minimum wage rate is recalculated yearly on September 30, based on the Consumer Price Index.

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In Missouri and neighboring Arkansas, voters in November overwhelmingly approved a minimum-wage increase, which directly affects about 1 million workers.

Since the federal minimum wage was last raised in 2009, it has lost about 9.6 percent of its purchasing power to inflation, according to a 2017 report by the Pew Research Center. Wages and tips combined must equal at least the minimum wage. Since then, 29 states, and more than 40 cities or counties, have hiked their minimums above the federal $7.25. Businesses may place a higher value on experienced workers, making it more challenging for entry-level employees to find jobs. Some have repeatedly raised their rates.

In May, researchers at the University of Washington determined that Seattle's initial increase to $11 an hour had an insignificant effect on employment, but that the hike to $13 an hour resulted in "a large drop in employment".

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In October, however, those same researchers reached a contrasting conclusion. On the other end of the spectrum, in New York City, the minimum wage is jumping from $13 to $15.