Despite an unemployment rate of ten percent and about one-third of small businesses already shuttered as a result of his coronavirus lockdowns, New York Governor Andrew Cuomo is apparently unsatisfied in his efforts in the state.
The New York Department of Labor announced Wednesday that it will move forward with plans to hike the state's minimum wage on December 31.
Under the state's phased-in minimum wage increase that started in 2016, businesses in New York City are already required to pay workers a minimum of $15 per hour.
On December 31, the minimum wage in Long Island and Westchester County will increase by $1 to $14 per hour, and the minimum wage across the rest of the state will jump from $11.80 to $12.50 per hour.
Greg Biryla, New York director of the National Federation of Independent Business, told the Rochester Democrat & Chronicle that the Cuomo administration's reasoning for approving the minimum wage hike "Defies logic." Even with assistance from the state and federal governments, 39 percent of NFIB members say they could be out of business in the next year.
The analysts add that "Anecdotally, our research has found examples of job openings upstate offering wages well above $12.50," and conclude that "These examples could be interpreted as evidence that upstate businesses are able to offer the wages necessary to attract the workers they need."
The consequences of this idiocy will be felt by thousands of small businesses that might be willing to reopen their doors when the pandemic passes, but will be unable to afford the new wages until they get back on their feet.
Saturday, December 19, 2020
Does Andrew Cuomo Want to Kill Small Businesses in New York?
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