New York credit union leaders are reminded that the state’s minimum wage throughout New York state — except New York City, Nassau, Suffolk and Westchester counties — will increase from $13.20 to $14.20 per hour December 31, 2022 and should act soon to ensure they are prepared.

The minimum wage for employees working in New York City, Nassau, Suffolk and Westchester counties remains unchanged at $15 per hour. The minimum wage for the remainder of the state will continue to increase on an annual basis until the statewide minimum wage rate reaches $15 per hour.

The increases have been published in the Report on New York’s Minimum Wage Increases Scheduled for 2023 by the state commissioner of labor, and as reported by the director of the Division of Budget. The changes reflect percentage increases based on economic indices, including the Consumer Price Index. A chart summarizing the minimum wage rate schedule can be accessed on the state Department of Labor webpage.

An increase to the salary level threshold for employees classified as exempt has not yet been finalized for 2023, however, an increase has been proposed from $990 to $1064.25 per week in upstate New York effective Dec. 31, 2022. There is no proposed increase to the salary threshold for exempt executive and administrative employees working in New York City, Nassau, Suffolk and Westchester counties, so that threshold will remain at $1,125 per week.

For more information about minimum wage increases, contact Chris Pajak, PHR, New York Credit  Union Association VP of member engagement, at christopher.pajak@nycua.org or (800) 342-9835, ext. 8188.