2024 Cost Of Living Increase For Employees In Ny. The annual percentage 23 increase to the base amount shall equal fifty percent of the annual 24 inflation, as determined from the increase in the consumer price index 25 in. Governor kathy hochul today announced an agreement to address key priorities in the fiscal year 2024 new york state budget.

16, although they will not have a practical impact until the first full pay period of 2024, which begins jan. Without it, the state’s minimum wage is set to increase to $16.50 per hour next year.