New York State Minimum Wage Increase 2024au. Kathy hochul said earlier this year that not only will the minimum wage increase in 2024, but there will be an annual $0.50 increase through 2026. These rates are in effect from january 1, 2024 through december 31, 2024.
— 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. — that’s an increase of 5.6% over the current minimum wage of $14.20 an hour in upstate new york.