The 2023 New York State Legislature recently concluded its legislative session (after being called back for two weeks to consider certain pieces of legislation). The session ended with a flurry of activity relevant to employers in the state, and below is an update on developments pertinent to New York employers. In sum, many items, including non-compete bans, the Freelance Isn’t Free Act, Settlement Agreements and Liquidated Damages Provisions and more await forwarding to Governor Kathy Hochul’s desk for her signature or veto.
It Happened
Minimum Wage Increasing
In May, Governor Hochul signed budget legislation to increase the minimum wage for workers beginning January 1, 2024, and continuing through 2026. Further, as part of the legislation, increases to the minimum wage will be indexed based on inflation by the U.S. Department of Labor’s consumer price index beginning in 2027 and each year thereafter.
Minimum Wage Increases
For New York City, Westchester and Long Island:
For the rest of New York:
For 2027 and beyond, the New York Department of Labor (NYSDOL) will publish the minimum wage on October 1 each year for the rate to take effect on January 1. Increases will not occur for a given year if the inflation index is negative; New York State’s unemployment rate increases by half a percentage point from its low during the preceding year; or total non-farm...
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