Business

Comptroller Scott Stringer: Raise NYC Minimum Wage To $13.13

New York City Comptroller Scott Stringer (credit: Getty Images)

New York City Comptroller Scott Stringer (credit: Getty Images)

NEW YORK (CBSNewYork) — New York City Comptroller Scott Stringer is calling for the city’s minimum wage to be raised to $13.13.

Stringer released an analysis Monday saying that the increase would boost the pay of 1.2 million city residents by an average of $100 per week, WCBS 880’s Rich Lamb reported.

Critics have argued increasing the minimum wage would result in layoffs, but Stringer said the positives would outweigh the negatives.

Comptroller Scott Stringer: Raise NYC Minimum Wage To $13.13

restaurant Comptroller Scott Stringer: Raise NYC Minimum Wage To $13.13
Rich Lamb reports

“The bottom line is it is better to raise the minimum wage,” Stringer told Lamb. “The loss of jobs on the other side is not that significant. And the economic benefit of a raised wage has tremendous positives for our economy in the city.

“The more you give people a living wage, people have the opportunity to take care of their kids, pay the rent, less people are going to end up homeless,” the comptroller added.

WEB EXTRA: Read Stringer’s Complete Analysis

Citing New York’s high cost of living, Stringer said, “We are falling behind other cities on the minimum wage.”

Mayor Bill de Blasio failed this year in his bid to convince the state Legislature to allow the city to set its own minimum wage.

Gov. Andrew Cuomo is opposed to letting municipalities raise their base wage, arguing it could lead to destructive competition to lure employees or the employers beyond state lines.

The statewide minimum wage wsa raised to $8 this year, which is 75 cents above both the federal minimum and the old state rate. The minimum for most New York workers will increase at the end of 2014 to $8.75 an hour, and to $9 an hour at the end of 2015. The minimum for workers in the restaurant industry who receive tips remains $5 an hour.

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