Locally consumers are very price conscious and notice the nickel, dime or quarter increases...In that world they won't like the double whammy of higher sales tax and higher minimum wages that will place significant upward pressure on prices, especially in my line of work where margins are always squeezed by higher product costs.
The only bright spot is energy, where costs are down.
While minimum wage rose to $9 an hour, the wage board raise for fast food workers upstate rose to $9.75, making it tough for employers to pay less than McDonald's,
Tipped workers participating in the restaurant wage are going from $5 to $7.50, a 50% increase.
Many employers struggling to stay above minimum are now struggling to keep up with Albany's edicts.
The fact is many people make a lot more, but few of those people want to pay more for the products and services they buy.
New York Raises Minimum Wage for New Year - Fortune