The battle over minimum wage laws has been raging for quite some time now. Supporters of minimum wage laws argue that raising the minimum wage will increase consumer spending and allow more workers to provide for their family members. Critics of minimum wage increases argue that they go against the laws of supply and demand, and that raising the minimum wage will mean companies are less likely to hire new workers. The federal minimum wage is now $7.25, a rate that was set back in 2009.
Whatever your opinion is about the minimum wage laws, as an employer you must stay informed about them
The Latest on Minimum Wage Laws
In New York, Governor Andrew M. Cuomo recently announced a plan to raise the state’s minimum wage to $10.50 and $11.50 in New York City. The current minimum wage in New York is $8.75. Cuomo’s campaign is known as the Fight for Fair Pay initiative. The Governor’s office says that raising the minimum wage will result in $3.4 billion in economic benefits statewide. Nearly 600,000 New Yorkers are presently working at minimum wage.
In the City itself, Mayor Bill de Blasio has an even bolder plan for minimum wage laws. At a business association breakfast in Manhattan on March 5, Mayor de Blasio encouraged New York City’s business owners to voluntarily pay employees $13 an hour at minimum. The Daily News reports that this call from Mayor de Blasio is at odds with Governor Cuomo’s proposed minimum wage law of $11.50, so only time will tell what happens to the minimum wage laws in both New York State and New York City.
Other Significant Minimum Wage Developments
In Washington State, where the minimum wage is already the highest in the nation at $9.47, a bill recently passed the state House to raise the minimum wage to $12 in a four-year timeframe. Now the bill moves to the state Senate, where the Republican Party that currently holds the majority has been critical of the bill and its impact on the state of Washington.
In New Jersey, a unique bill is currently under consideration by the state’s Assembly Labor Committee. The bill itself doesn’t raise the statewide minimum wage, currently $8.38 per hour, but instead allows local towns and counties to set their own minimum wage. Considering the relatively high cost of living in New Jersey, where it is more than 25% higher than the national average, it makes sense that there is a strong movement for increasing the state’s minimum wage.
Paypro: Simplifying Wage Concerns
Business owners often feel frustrated or confused when laws that change the minimum wage go into effect. They have to make significant changes to the way that they pay their employees, which can sometimes cause a drag on productivity.
Paypro’s platform gives business owners the ability to instantly make changes to their wage dispersal or get a report on payroll expenses. Using Paypro’s pre-process register, you can even access your payroll information before it gets processed. Paypro’s business payroll software is the perfect option for business owners who want to have full control over their payroll so that wage concerns become a thing of the past. To see an online overview of Paypro’s easy to use payroll software application, please visit our on-line demo or contact us for more information.