Workers in New York earning minimum wage had an extra reason to celebrate on Monday as they received a pay increase at the start of 2024.

The minimum wage in New York City and some suburbs has increased to $16, with plans for annual increases in the future. The rest of the state will see a minimum wage increase from $14.20 to $15.

The minimum wage in New York City and its suburbs is projected to rise annually until it hits $17, while in the rest of the state it will reach $16 by 2026. These future increases will be linked to the Consumer Price Index for Urban Wage Earners and Clerical Workers, which tracks inflation.

According to a recent report by the Economic Policy Institute, New York is among the 22 states that will see an increase in minimum wage in the coming year.

The minimum wage in California has risen to $16, a slight increase from the previous rate of $15.50. In Connecticut, the minimum wage has also increased to $15.69 from the previous rate of $15.

The recent increase in wages in New York was a result of a agreement reached last year between Governor Kathy Hochul, a Democrat, and the state Legislature. The decision was met with opposition from certain employers and liberal Democrats who argued that it was not a sufficient increase.

In the United States, the minimum wage set by the federal government has remained at $7.25 per hour since 2009. However, individual states and certain areas have the ability to establish higher minimum wage rates. Currently, thirty states, such as New Mexico and Washington, have chosen to do so.