Workers in NYC comprise the majority of NY State’s minimum wage workers (61%). NY State’s 2016 passage of a $15 minimum wage means that employers in NYC must incrementally raise the wages of their minimum wage employees on a yearly basis to reach the $15 threshold (the tiered system is based on size of employer). For low-income workers, many of whom represent minority or immigrant groups, this is a step forward. But in an expensive city like NYC, many still struggle with paying for necessities like housing and food, despite working full-time hours. Retirement, among these workers, is often little more than a fantasy as they cannot put money from wages aside for the future.
To understand Income & Benefits as a function of inequality, we looked at four indicators:
- Race & Income
- Income & Retirement Savings
- Immigration Status & Income
- Gender & Income
Take a look at the chart to your right for an overall picture of this topic, and then look at each indicator and the scores in context for more detail and additional findings.