The Economic Times News

New year, new money: Law taking effect January 1 could mean more cash in your paycheck

New York minimum wage increase: January 1 law raising pay to $17 and $16 an hour: Millions of Americans will see higher paychecks starting January 1, 2026, as the minimum wage increase 2026 takes effect. New York workers in NYC, Long Island, and Westchester County will earn $17 per hour, while others see $16. Over 20 states, including California, Arizona, and Michigan, are also raising wages. Indexed pay hikes will start in 2027, tied to inflation, giving workers automatic yearly increases.