It is time: We demand a living wage now! Here are a few more facts about the minimum wage, also courtesy of NY Workers Rising:
- Over the past 10 years the minimum wage has remained stagnant while CEO pay has increased by 725%
- Minimum wage jobs are the fastest growing sector in New York, with the number of workers being paid minimum wage increasing ten-fold over the past five years to 91,000.
- 66% of Car Wash workers interviewed reported receiving the legal minimum wage of $7.25 per hour. Only 5 workers reported being paid the difference if their tips and salary didn’t amount to $7.25 per hour.
- Over 55% of those earning less than $8.50/hour statewide and 58% of those earning less than $8.50 per hour upstate are female.
- In New York State, approximately 487,000 women would be guaranteed to get a raise if the minimum wage were to be increased to $8.50 per hour.
- In New York City, 78% of those earning less than $8.50 per hour are people of color.
- Latino residents of New York City are the most likely to see an increase in pay, with nearly 49% of all Latino workers earning less than $8.50 per hour.
- African Americans in New York City would be the second largest beneficiary of a higher minimum wage, with over 22% of African American residents making less than $8.50 per hour.
- Even with two incomes, a family of 4 where both parents earn minimum wage, earns about $30,160 per year, assuming no time off. Not much about the $23,050 poverty line, especially if a family member gets sick and one person has to take time off.
- Over 84% statewide and 92% in New York City of the residents making less than $8.50 an hour are 20 years of age or older.
- New Yorkers ages 16-19 make up barely 16% of the statewide and 8% of the New York City workforce making less than $8.50 per hour.
- Average estimated all-in costs (including tuition, room and board, books, personal expenses, transportation) for a SUNY student living on campus is $21,120. A student attending classes and working 20 hours per week would make merely $7,540. This guarantees that a student would require significant financial aid, if they were able to afford school at all.
- The current pre-tax annual income of a worker earning minimum wage ($7.25) for a full-time (40 hours/week) job – assuming no time off – would provide $15,080.
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