Hardworking New Yorkers shouldnt have to worry about whether theyll have enough money to put food on the table or if theyll be able to pay the rent or mortgage at the end of the month, said Assemblywoman Walker. Everyone who puts in an honest days work should be able to provide for themselves and their family. Thats why the Assembly passed sweeping changes to the states minimum wage laws to help lift working families up because far too many people are struggling just to get by.
As the minimum wage increases continue at the end of this year, many New Yorkers can expect to see a bump in their pay. On Dec. 31, the minimum wage in New York City will increase to $13, and for workers employed by small businesses with 10 or fewer employees, it will increase to $12. The minimum wage in Nassau, Suffolk and Westchester counties will increase to $11, while upstate New York will see the minimum wage increase to $10.40. And that isnt the last of it workers will continue to see increases for the next few years.
Its no secret that the minimum wage has not kept up with the rising cost of living. As expenses like food, utilities and housing costs increase, the average salary has remained stagnant. From 2007 to 2014, wages fell for all but the highest wage brackets when adjusted for inflation. Low wages and unfair pay exacerbate inequality and continue the harsh cycle of poverty.
There is also a misconception that those working minimum wage jobs are mostly young people, but thats simply not true. The majority of minimum-wage workers are adults, not teenagers half of people making $15 or less are 35 or older. And those who are married or have children make up over 40 percent of minimum-wage workers.
Additionally, its important to note that increased wages lead to a stronger economy. Of the 13 states that raised their minimum wage in 2014, 12 saw employment growth. When employees believe they are being adequately compensated for their hard work, businesses see better productivity and decreased turnover. And consumers have more money in their pockets to buy goods and services, boosting demand and creating jobs.
A higher minimum wage also acknowledges the very real problem of rising inequality in America. In 1965, CEOs made 20 times more than the average worker. In 1989, they made 59 times more. Today, CEOs make 271 times more than the average worker. Clearly, there is something deeply wrong with our economic system, and the problem is only going to be exacerbated by the federal tax plan that transfers wealth from the poor and middle class to the rich and corporations. Its imperative that we continue the fight to level the playing field and combat income inequality.
The Assembly Majority is committed to serving New Yorkers best interests, and raising the minimum wage is part of that commitment. It will help pull hardworking New Yorkers out of poverty and put the American Dream within reach for more families. Raising the minimum wage was not only the smart thing to do; it was the right thing to do. Opportunity, economic security and success shouldnt be reserved for a lucky few, but should be available to all.
If you have questions about this or any other community issue, please dont hesitate to contact me at 718-342-1256 or by emailing Walker55@nyassembly.gov.