Minimum wage workers in New York City will see their pay rise to $15 an hour by the end of 2018 as part of the $156 billion budget deal reached by Governor Andrew Cuomo and lawmakers Thursday.
Lydia DePillis, a reporter for the Washington Post who covers labor and workforce issues across the country, said the New York increase marks a victory for the city's workers. But for workers external of the city, or the minimum wage will increase at a slower pace — as dictated by the regional economy."That's to avoid what economists like to call 'the bite,'" she said. "It's too rapid an adjustment for businesses to create."But gradually phasing in the minimum wage is less of a victory. DePillis said $15 in 2021 means less than it does in 2016."[It] doesn't mean that it's not meaningful," she said. "But will it preserve up with the cost of living? It may not."DePillis spoke to WNYC's All Things Considered host Jami Floyd.
Source: wnyc.org