New York State Minimum Wage Increase 2024 Olympics. Under one of the bills, the minimum wage would increase to $17 in new york city and its suburbs, and $16 elsewhere in the state by 2026, with future hikes pegged. Beginning in 2024, new york state will raise minimum wage to $16 in new york city, long island, and westchester and $15 elsewhere in the state, followed by $0.50 annual increases in 2025.

The highest state minimum wage in 2024 will be washington state, at $16.28, up from $15.74. As part of the fy 2024 budget, governor hochul secured an historic agreement to increase new york’s minimum wage through 2026 and index it to inflation.