Projected 2030 count and share of workers below minimum wage and minimum-to-median-wage ratio in NYC for $30 minimum wage and other thresholds

Scenario Count of workers below threshold Share of NYC wage-earning workforce Minimum-to-median-wage ratio
$25 by 2030 1,358,700  29.7% 0.64
$28 by 2030 1,579,900  34.5% 0.71
$30 by 2030 1,680,900  36.7% 0.76
$32 by 2030 1,868,200  40.8% 0.82
Economic Policy Institute

Notes: Assumes annual nominal wage growth rate of 3.3% based on CBO projections of Employment Cost Index. Annual population growth of 0.97%.

Source: EPI analysis of 2023 1-year ACS data and CBO January 2025 Economic Projections.

View the underlying data on epi.org.