In New York, employees do not work for free, even if many employers wish they did. Everyone needs to make a living and employment laws define exactly how much an employee must make per hour. These minimum wage laws are important and keep employers from taking advantage of employees. In order to be more appealing to potential employees, many places of business offer their employees benefits. These employee benefits have become an important part of many New Yorkers lives and provide things like healthcare and retirement benefits.
According to new data, many workers in New York can expect a pay increase next year. As a result of the difficult economy over the last decade, wages in New York have been nearly stagnant. This year most employees income increased by 2.6 percent. However, research suggests that this trend may be improving. New York workers can, on average, expect to be paid 2.8 percent more in 2014. Workers in the tourist industry and non-union, hourly pay retail workers are seeing the biggest increases at 2.9 percent, whereas salaried and government workers are seeing lower rates of increase.
While this news may be good news for most workers, this increase is still lower than the national average of three percent. With much of New York having a very high cost of living, workers, in many cases, are going to need all of this money to meet all of their financial obligations.
When there is a failure to pay benefits or when employers violate wage laws, it is the employees and their families that suffer. In these situations, employees should understand that employment laws are in place to help them recover the compensation they need and deserve. Employees work too hard to be denied benefits, and the legal system in New York can help.
Source: Crain’s New York Business, “New Yorkers to get pay bump in 2014,” Nazish Dholakia, Aug. 30, 2013