Cali and NY to raise minimum wage to $15 by 2018

[devil21]

https://www.yahoo.com/news/california-york-poised-raise-minimum-wage-15-044101837--finance.html

California and New York are poised to become the highest-paid minimum-wage states in the nation after their governors each reached deals with lawmakers to raise the lowest amount a worker can be paid to a record-shattering $15 an hour. more at link

In other news, dollar to be devalued at least 33% by 2018.

 

[Zippyjuan]

The California minimum wage increase does not hit $15 until 2022.

http://money.cnn.com/2016/03/31/pf/california-minimum-wage/

The measure will raise the state's minimum wage to $10.50 in January and to $11 in January 2018. It will then increase by an additional $1 per hour every year until it reaches $15 in 2022. If, however, the state goes through an economic downturn or budget crisis, the governor may choose to slow the implementation.

New York has a varied phase in. New York City hits it in 2018.

http://www.nytimes.com/2016/04/01/n...with-higher-minimum-wage-is-reached.html?_r=0

ALBANY — Gov. Andrew M. Cuomo and state legislative leaders announced on Thursday that they had reached a budget agreement that would raise the minimum wage in New York City to $15 by the end of 2018, but initiate slower increases elsewhere, even in the city’s wealthy suburbs.

For Mr. Cuomo, the wage agreement came with clear concessions, as some lawmakers outside the city won a softer phase-in period. Long Island and Westchester County will not reach a $15 wage for nearly six years; areas north of Westchester are assured only of reaching $12.50 by 2021.

 

[devil21]

Not a chance the 2022 part sticks. NYC is the bellwether and everywhere else will rush to catch up by then.

Besides, if I were to bet on it I'd say the deval (helicopter money drop) will occur before 2018.

 

[heavenlyboy34]

And after spending the last few years running ad campaigns to convince people to start business in NY by being more business-friendly. Probably isn't going to be pretty. Lots of job automation and general layoffs to come.