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The minimum wage rate in New York is $14.20 per hour as of December 31, 2022. The minimum wage rates differ based on industry and region. The minimum wage will increase each year until it reaches $15.00 per hour
Fucking peg it to inflation rather than stopping at $15. Add a lag time if you have to in order to stop runaway inflation but I'm so fucking tired of fixed prices getting baked into law and never updated. Minimum wage should guarantee a certain standard of living and that means it needs to increase with inflation.
Ah, so almost 2 pennies every 4.97 seconds instead.
Weird that the price increases of basically everything is updated constantly, but the minimum price of labour takes a uphill battle once a decade to move it an inch.