Raising the state’s minimum wage to $8.50 an hour in January 2013 would benefit about 1 million New York workers, a report today from the labor-backed Fiscal Policy Institute says.
The Albany-based group said it would impact about 11 percent of all New York workers.
The report said there are 880,000 workers who earned below $8.50 an hour and an estimated 120,000 workers who earn slightly above $8.50 an hour. The group anticipated that those workers would likely see a salary bump too.
Assembly Speaker Sheldon Silver is proposing to increase the minimum wage from $7.25 an hour to $8.50 an hour and then tie future increases to inflation. The proposal is under review by Gov. Andrew Cuomo, but Senate Republicans not indicated their support. Business groups are fighting the measure, saying it would hurt job growth.
Here’s the report.