Mayor Michael Bloomberg used his State of the State address to announce his support for an increased minimum wage. Assembly Speaker Sheldon Silver backs the idea big time and he issued this statement:
“I applaud and thank Mayor Bloomberg for joining our call to increase the minimum wage. As I have said, it is wrong to expect anyone let alone working families to be able to afford the cost of living today and invest in their future on a salary of $7.25 an hour. Increasing the minimum wage would benefit more than 14 percent of our workforce. Mayor Bloombergs commitment to helping the more than 1.2 million low wage workers in New York climb the ladder of financial security is welcome news.”