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Cuomo says Minimum Wage Increase will have $3.4 Billion in Economic Value

By Staff

 

Andrew CuomoGov. Andrew Cuomo has detailed the projected impact of a minimum wage increase from the current $8.75 to his proposed $10.50 statewide and $11.50 in New York City, according to a press release.

In total, Cuomo said more than 1.35 million workers will experience an increase in wages statewide, with the majority of benefits going to adults and women. In addition, he said the direct economic value across the state, as a result of these higher wages, will be approximately $3.4 billion.

“The minimum wage should allow people who work full-time jobs to support themselves and their families – but that is just not possible today,” Cuomo stated. “Our proposal will help hundreds of thousands of New Yorkers better sustain themselves, and live with dignity and respect. The State Legislature must pass our proposal this year, because the sweetest success is shared success, and we won’t rest until we are all rising together.”

The governor recently visited Rochester to promote his minimum wage agenda, at a “Fight for Fair Pay” campaign rally, March 4, on East Ave.

Additionally, Cuomo’s office has released the following statewide regional breakdown of the 1.35 million New Yorkers he said will experience higher wages, as well as the projected direct economic value of the minimum wage increase:

 

Region Total Minimum Wage Workers Today at $8.75 Total Minimum Wage Workers at $10.50 ($11.50 NYC) Direct Economic Value of Increased Minimum Wage
Capital District 34,969 82,946 $156.8M
Central New York 23,536 55,827 $105.5M
Finger Lakes 37,628 89,254 $168.7M
Long Island 85,264 202,248 $382.3M
Hudson Valley 60,584 143,706 $271.6M
Mohawk Valley 13,050 30,955 $58.5M
North Country 10,374 24,608 $46.5M
Southern Tier 18,248 43,284 $81.8M
Western New York 43,074 102,172 $193.1M
New York City 267,274 571,800 $1.9 billion
Total: 594,001 1,346,800 $3.4 billion

 

Visit https://www.ny.gov/programs/fight-fair-pay for additional details regarding the minimum wage campaign.