07
Oct
2015
ALBANY, N.Y.—“The Business Council opposes a statewide $15 per hour minimum wage, which is projected to have a $15.7 billion per year impact on private sector labor costs. Such an increase will drive hourly labor costs up by 70 percent for entry level positions, with a total increase of $14,000 per full time position, and significantly impact sectors dominated by small business and non-profit organizations. The Business Council believes that the state’s long-term economic strategy requires improvements in the state’s overall competitiveness. Imposing significant cost increases on employers is contrary to that objective.”
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