As of December 31, 2020, New York State has implemented a new minimum wage agreement that affects almost all workers in the state. This agreement ensures that hourly workers receive fair compensation for their work, regardless of their industry or their employer`s size.
Under this agreement, the minimum wage for hourly workers in New York State will increase incrementally each year until it reaches $15 per hour. The rates of increase vary depending on the location and the size of the employer, with the highest rate of increase applying to employers in New York City with more than 11 employees.
This wage agreement also includes changes to the overtime pay regulations, with the threshold for mandatory overtime pay increasing annually until it reaches $1,125 per week in New York City, and $975 per week in other parts of the state.
In addition to these changes to minimum wage and overtime pay, the wage agreement includes provisions for tipped workers. Tipped workers are now required to earn the full minimum wage before tips, meaning that employers can no longer use tips to lower their workers` wages.
It`s important to note that this wage agreement only sets minimum standards for wages and overtime pay. Employers are free to pay their workers more than the minimum wage, and many companies do so to attract and retain experienced and skilled employees.
Overall, this wage agreement is a significant step forward for workers in New York State, ensuring fair pay and economic stability for hourly workers. With these changes, New York State is leading the way in protecting the rights and livelihoods of its workers, setting an example for other states and municipalities to follow.