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NYC's minimum wage increase may lead to business flight



In New York and New York and Connecticut, where labor costs are now much more attractive, entrepreneurs in New York are likely to take a hike, labor experts say.

By January 1, New York City will officially increase its minimum hourly pay of $ 13 to $ 15 for companies with 11 or more employees compared to a nationwide 25 cents increase in New Jersey to account for inflation ,

And the New Jersey minimum of $ 8.85 or 41 percent Less than the Big Apples, Connecticut stands at $ 10.10 an hour.

"New York City raises the minimum along with the increasing number of stores being closed in New York City," said Michael Saltsman Director at the Institute for Employment Policy, and noted how many of these companies "gateway jobs" in Low pay sectors offered. This was a step towards higher pay for workers who had gained experience and more education.

The prospect of companies avoiding the Big Apple or moving from New York City to New Jersey and Connecticut is gaining in importance over time. The New Year begins.

"Another new year is associated with a further increase in wages in New York City, where small businesses have to figure out how to manage it," said Andrew Rigie, executive director of the New York City Hospitality Alliance. Summaries of sentiment among many of his colleagues in the service sector. "Let's hope that consumers are willing to pay the higher prices needed to make up for the mandate."

All in all, December 31

or January 1, 20 states, and 23 localities nationwide will increase the minimum wage. The increases will have several iterations in the state of New York, such as a $ 13.50 jump in New York City for employers with 10 or fewer employees. $ 12 in the districts of Nassau, Suffolk and Westchester and $ 11.10 per hour in the rest of the state.


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