Businesses Will Feel The Pinch With Minimum Wage Hike
All of New York’s businesses — especially the small ones — will be feeling a new pinch right before the start of the new year.
Beginning Monday, the state’s minimum wage will rise 70 cents to $11.10 per hour. That is almost $4 more than the federal minimum wage, which is $7.25 per hour.
How this affects Chautauqua County — where the economy has been traditionally slow for the past 50 years — can be a double whammy. Not only are costs rising for businesses, but we are on a border with Pennsylvania, where the minimum wage is at the federal standard.
For us attempting to lure business, that is a competitive disadvantage.