New York State Minimum Wage 2025. Beginning in 2027, the minimum wage will increase annually. 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 beginning in 2027.

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 beginning in 2027. Governor kathy hochul signed into law in may increases to new york’s minimum wage that will occur over the next few years.