New York is reportedly close to raising the state minimum wage to $9 per hour by 2016: the same minimum wage that President Barack Obama proposed introducing at the national level. But that wage would fall far short of a living wage in New York, according to one analysis.
While $9 per hour is substantially higher than New York's current minimum wage of $7.25 -- which is the lowest the minimum wage can be in the U.S. -- it doesn't constitute a living wage for any type of New Yorker, including New Yorkers living alone, according to the Living Wage Calculator. A single parent with one child, working full-time in the state of New York, would need to make $23.58 per hour to get by. And a single parent with three children would need to make $40.74 per hour.
According to the Bureau of Labor Statistics, 113,000 New York workers were paid the minimum wage in 2012.
A minimum wage of $9 per hour is significantly lower than what workers really should be making, according to one study. The minimum wage should have reached $21.72 per hour in 2012 if it kept up with increases in worker productivity, a 2012 study by the Center for Economic and Policy Research found.
Sen. Elizabeth Warren (D-Mass.) cited this finding in a Senate hearing last week.
Correction: A previous version of this post incorrectly attributed the Living Wage Calculator only to MIT graduate Eric Schultheis. MIT professor Amy Glasmeier also played a key role in its development.