Minimum Wage Increase 2024 Ny. Beginning in 2024, new york state will raise minimum wage to $16 in new york city, long island, and westchester and $15 elsewhere in the state, followed by $0.50 annual increases in 2025 and 2026. Governor kathy hochul signed into law in may increases to new york’s minimum wage that will occur over the next few years.
1, 2024, the minimum hourly wage will increase from $15.00 to $16.00 in new york city and nassau, suffolk, and westchester counties, and from $14.20 to. 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 beginning in 2027.