New York State Minimum Wage Increase 2024. On may 3, 2023, new york governor kathy hochul signed into law the fy2024 new york state budget agreement (the budget), which includes legislation increasing the state’s minimum wage rate over the next. As part of the fy 2024 budget, governor hochul secured an historic agreement to increase new york’s minimum wage through 2026 and index it to inflation.
New yorkers are gearing up for a significant change as the state’s minimum wage is scheduled to rise in 2024, marking the latest phase of an ambitious plan. The minimum wage will increase to $16 an hour in new york city and westchester, nassau and suffolk counties and to $15 an hour in all other areas of the.