A proposed $21.25 hourly minimum wage would benefit 41.8% of the state’s Black workforce directly or indirectly, according to nonprofit think tank Economic Policy Institute (EPI).
That’s roughly 508,600 Black New Yorkers estimated to receive an earnings boost if the Raise the Wage Act is passed.
“Black working families are leaving because their wages are not setting them up to be able to become homeowners and build generational wealth. Raising the minimum wage, to ensure that it truly covers the cost of living, has to be a top priority if we want to build a just budget.” New York City minimum wage’s rise to $15 for fast food establishments and large employers in 2019 was initially seen as a landmark victory for service industry workers. But three years and a pandemic later, fast food and retail employees are once again in need of a raise. Thanks to inflation, a $15 hourly minimum wage today only offers $13.38 in purchasing power back when the raise was enacted, according to City Comptroller Brad Lander.
“If you index it at the [lowest] amount, you’re hurting a lot of people and most of those people will be Black and brown,” said Williams. “Most of them will be women working in lower paying jobs. Those are the people who need the most help, not the least help. Companies are making record amounts of profit so they won’t close up shop.
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