• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

2

Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic

3

Ray Dalio says the U.S. just had its 'Suez moment'—and history says what comes next could end an empire

1

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

2

Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic

3

Ray Dalio says the U.S. just had its 'Suez moment'—and history says what comes next could end an empire
LeadershipFuture of Work

New York Rings in New Year with Minimum Wage Hike

By
Claire Groden
Claire Groden
Down Arrow Button Icon
By
Claire Groden
Claire Groden
Down Arrow Button Icon
December 31, 2015, 11:07 AM ET
Protesters hold signs at a rally in support of minimum wage increase in New York, U.S., on Wednesday, April 15, 2015. Fast-food workers held rallies in 236 U.S. cities Wednesday in their biggest protest yet for higher pay and union rights. Photographer: Victor J. Blue/Bloomberg
Protesters hold signs at a rally in support of minimum wage increase in New York, U.S., on Wednesday, April 15, 2015. Fast-food workers held rallies in 236 U.S. cities Wednesday in their biggest protest yet for higher pay and union rights. Photographer: Victor J. Blue/BloombergPhotograph by Victor J. Blue—Bloomberg Finance LP via Getty Images
Add Fortune on Google for similar content.

New York will ring in the new year with a minimum wage hike.

On Thursday, the state’s minimum wage jumps to $9 from $8.75. Tipped workers, who earn between $4.90 and $5.65, will see their minimum hourly rate increase to $7.50, according to the Wall Street Journal.

Fast food workers—whose wages have earned so much attention this year through the “Fight for 15” protests —will see their own particular increase as the state slowly moves toward achieving a $15 minimum wage for them. In New York City, those workers will be paid at least $10.50 per hour, and workers outside of the city will earn at least $9.75.

But the minimum wage jump, particularly for tipped workers, has many restaurants concerned about their ability to make ends meet. On Tuesday, the New York State Restaurant Association sent a letter to Gov. Andrew Cuomo asking for a freeze on raising the tipped minimum wage for five years.

“Employers in the hospitality industry are being hit with a whopping 50% increase to the tipped wage this week,” said association president Melissa Fleischut in the letter, as reported by the New York Daily News. “The industry needs time to adjust to this dramatic increase.”

New York is one of 14 states raising minimum wages in 2016. While two of those states, Massachusetts and California, are the first to raise their minimum wage to $10, the rest are incremental raises similar to New York’s.

Some West Coast cities, like San Francisco and Seattle, are slowly phasing in a $15 minimum wage that is non-exclusive to the fast food industry. That’s an agenda item that Democratic Gov. Cuomo will address in the coming year, as he seeks to raise New York’s minimum wage to $15 across the board. Cuomo is expected to outline his plan, which includes giving tax cuts to businesses struggling to pay the wage, in his State of the State speech in early January.

About the Author
By Claire Groden
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Leadership

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Leadership

lb
PoliticsCongress
Leon Black says Epstein’s network included Elon Musk, Sergey Brin and Peter Thiel, while saying ‘I knew Jekyll. I didn’t know Hyde’
By Joey Cappelletti and The Associated PressJune 26, 2026
1 hour ago
John Collison, president and co-founder of Stripe
SuccessJobs
Stripe cofounder says Gen Z will need two college majors to compete thanks to AI—and investing legend Charlie Munger called it first
By Emma BurleighJune 26, 2026
2 hours ago
young woman looking frustrated while working on her laptop at home
SuccessCareers
Gen Z’s hiring hell is real: 1 in 3 employers admit they’re replacing entry-level roles with AI—and tech and manufacturing jobs are most at risk
By Preston ForeJune 26, 2026
2 hours ago
Fortune 500 Power Moves: Which executives gained and lost power this week
C-SuiteFortune 500 Power Moves
Fortune 500 Power Moves: Which executives gained and lost power this week
By Fortune EditorsJune 26, 2026
4 hours ago
Marketing leaders speak at Fortune's Fuel Up event in Cannes. (L-R) Natalia Ball, Mars Pet Nutrition; Zena Arnold, Sephora; Tati Lindenberg, Unilever; Laura Jones, Instacart; Ruth Umoh, Fortune
RetailCMO
The new CMO playbook: how marketers are balancing broader remits and tighter budgets
By Sam BirchallJune 26, 2026
5 hours ago
mj
CommentarySuccession
Morgan Stanley on life after selling your business: a roadmap for entrepreneurs
By Mark JansenJune 26, 2026
6 hours ago

Most Popular

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
Success
MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
By Sydney LakeJune 25, 2026
1 day ago
Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic
Success
Now worth $200 million, Sarah Jessica Parker credits being ‘one of eight kids that struggled financially’ for her hunger, ambition, and work ethic
By Orianna Rosa RoyleJune 24, 2026
2 days ago
Ray Dalio says the U.S. just had its 'Suez moment'—and history says what comes next could end an empire
Economy
Ray Dalio says the U.S. just had its 'Suez moment'—and history says what comes next could end an empire
By Nick LichtenbergJune 26, 2026
10 hours ago
The bond market knows something about the $39 trillion national debt that Washington doesn’t
Economy
The bond market knows something about the $39 trillion national debt that Washington doesn’t
By Eva RoytburgJune 25, 2026
20 hours ago
Trump turns on Big Oil donors who spent nearly $100 million to get him elected—now he wants the DOJ to investigate them for price gouging
Economy
Trump turns on Big Oil donors who spent nearly $100 million to get him elected—now he wants the DOJ to investigate them for price gouging
By Tristan BoveJune 25, 2026
21 hours ago
Current price of oil as of June 25, 2026
Personal Finance
Current price of oil as of June 25, 2026
By Joseph HostetlerJune 25, 2026
1 day ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.