Country Details
Currency
United States Dollar (USD)
Official language
English
Capital
Washington, D.C
Is English spoken?
Yes
Time Zone
GMT - 4:00
Salary payment frequency
Bi-monthly
General Overview & Economic Facts
Information
The main exports include computers, almonds, diamonds and agricultural products
12.91% of the population is between the ages of 15 and 24 years, with 38.92% of the population being between the ages of 25 and 54. The United States has a more mature demographic with the average age being 38 years old
Population size
32,82,39,523
GDP
$26,855B
Inflation level
2.80%
Average earning + minimum wage
Average earning- $59,384 per annum
Minimum wage -
New York City and Long Island- USD 15.00 per hour
Remainder of New York- USD 13.20
Overview of the labour law
The United States Labour Law sets the rights and duties for employees, labour unions and employers in the United States. The basic goals of the labour law are to ensure there is no inequality of bargaining power between employees and employers. The laws further assist in eliminating discrimination and promoting equality at work.
Employees in the United States have the right to join a trade union and the right to join a trade union without facing discriminatory labour practices. Contracts of employment can always improve the statutory minimum rights employees are entitled to but cannot diminish them.
New York is an “employment-at-will” state which means that either the employee or employer can terminate the employment agreement at any time unless there is a specific law preventing this form occurring.
Employment Details
Number of Public Holidays
11
Working Hours
No maximum number of working hours per day. Minimum meal interval of 30 minutes. Typical working hours are 09h00 to 17h00 Monday to Friday
Benefits
- Health Insurance
- Vision Insurance
- Dental Insurance
- Pension or 401(K)
- Mental Health Support
- Life and Disability Insurance
Overtime
There are no maximum overtime hours in New York. Employers in New York must pay employees 1.5 times the established wage rate for any hours over 40 worked in a week
Notice Period
As an employment-at-will state, New York employers are not required to give advance notice to employees upon termination
Probation Period
There is no mandatory probation periodTypical probation periods are 6 months to a year
Severance Pay
Employers are not legally required to offer their employees a severance package. Employees must be paid all wage due to them at the time of termination
Employee Income tax
Income bracket per annum. Calculated on gross monthly remuneration
USD 0.00 – 17,150.00 4.00%
USD 17,151.00 – USD 23,600.00 USD 686 + 4.50% of the amount over USD 17,150.00
USD 23,601.00 – USD 27,900.00 USD976 + 5.25% of the amount over USD 23,600.00
USD 27,901.00 – USD 43,000.00 USD1202.00 + 5.90% of the amount over 27,900.00
USD 43,001.00 – USD 161,550.00 USD 2093.00 + 5.97% of the amount over USD 43,000.00
USD 161,551.00 – USD 323,200.00 USD 9170.00 + 6.33% of the amount over USD 161,550.00
USD 323,201.00 – USD 2,155,350.00 USD 19,403.00 + 6.85% of the amount over USD323,200.00
Employer Social cost
Employee Social cost
Benefit packages