NEW YORK (1010 WINS) -- A coalition of unions and activists rallied in front of City Hall on Thursday with State Sen. Jessica Ramos in support of a bill she introduced earlier this year that would mandate yearly minimum wage increases based on inflation.
The bill would increase the minimum wage in New York City to $17 per hour by the beginning of 2023 and then to $20.45 per hour by 2025.
The rest of New York State would see similar increases relative to their county’s respective minimum wage.
After 2025, the minimum wage would automatically increase based on how much the consumer price index increased over the previous year.
The index is a measure of the average change in the price of consumer goods calculated by the Bureau of Labor Statistics.
The increase would be measured from July 1 to June 31 of each year and would be implemented on Dec. 31.
Eighteen other states have similarly tied minimum wage to inflation in this way.
“Workers and businesses need economic predictability,” wrote Assemblymember Latoya Joyner, who introduced a companion bill in the State Assembly. “This year, we must index the minimum wage to inflation so that hard working New Yorkers may continue to prosper and provide for their families.”
The rally was organized by Raise Up NYC, a coalition that includes the Service Employees International Union, the Retail, Wholesale and Department Store Union, the National Employment Law Project and more.
A 2016 law gradually raised the minimum wage from $9 to $15 per hour — a rate that was reached in 2018. The pandemic caused rapid inflation that has outpaced wage growth in New York, though. That means minimum wage workers have less buying power now than they did in 2018.
The bills are currently in committee.
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