Transcription of Things New Yorkers Should Know About PREVAILING WAGE
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Things New Yorkers Should Know About PREVAILING WAGE
Things New Yorkers Should know About PREVAILING wage February 2012 2 Citizens Budget Commission Two Penn Plaza, Fifth Floor New York, NY 10121 540 Broadway, Fifth Floor Albany, NY 12207 T: 212-279-2605 F: 212-868-4745 Kenneth Gibbs Chairman Carol Kellermann President The Citizens Budget Commission is a nonprofit, nonpartisan civic organization devoted to influencing constructive change in the finances and services of New York State and City governments. This report was researched and written by Maria Doulis, Director of City Studies. Research Assistant Connor Mealey provided assistance collecting data and Carol Kellermann, President, offered editorial guidance.
3 PREVAILING WAGE IS DIFFERENT FROM MINIMUM WAGE AND LIVING WAGE. The most common form of government regulation of wages is the requirement that employers abide by a minimum wage that is the lowest possible rate of compensation an employee may be paid legally. The minimum wage set by the federal government is currently $7.25 an hour.2 State
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