Lilas Carmelle

2024 Cost Of Living Increase For Employees In Ny. To determine the appropriate wage increase for 2024, you need to look at various factors, including your company’s revenue, to determine what level of pay raise you can afford. Ilr researchers have calculated the 2023 living wage for tompkins county is nearly 10% higher than in 2022, the highest increase in three decades.

Salary.com’s cost of living calculator lets you compare the cost of living and salary differentials state to state or over 300+ us cities. Following the initial increase, minimum wage will see incremental raises of $0.50 in both 2025 and 2026.