As expected, the New York City Council voted Thursday evening to override Mayor Michael Bloomberg’s veto of a measure that would raise the minimum wage of employees of some companies that receive public subsidies to $11.50 an hour, or $10 an hour with benefits.

The vote means that Big Apple businesses that have received $1 million or more of economic development aid from the public will see their payroll expenses rise if any of their employees earn less than the new law mandates.

Read the Full Article