Commentary
On Jan. 1, while confetti was still being swept up in Times Square, a slew of new laws took effect in New York state. Of note, New York state enacted major changes to its minimum wage policy. As of the first of the new year, the Empire State minimum wage has risen to $16.50 an hour in New York City, Westchester, and Long Island, and to $15.50 an hour in the rest of the state. Under the new policy, the state minimum wage will also increase another 50 cents per hour in 2026 and then be indexed to inflation starting in 2027.
