The hikes are part of a plan to gradually increase the minimum wage for fast-food workers to $15 an hour.
Employees who are not paid the minimum wage may bring a civil action against the employer or any person violating Florida's minimum wage law.
The new figure will be set at €9.55 per hour - an increase of 30c per hour.
The annual calculation is based on the percentage increase in the federal Consumer Price Index for Urban Wage Earners and Clerical Workers in the South Region for the 12-month period prior to September 1, 2017, according to the DEO.
The federal minimum wage has not increased since 2009 and the purchasing power of the minimum wage has steadily declined for decades.
Unsafe wind chills Saturday morning - cold here to stay
As sunrise on Saturday nears, a bit of light snow may develop across the area, especially for points west of the Lehigh Valley. New Year's Eve night will be one of the coldest in recent memory with temperatures around 5° as the clock strikes midnight.
"I'm very concerned raising the cost of entry-level jobs will highlight the differences in cost between doing business in NY versus other states", Goodell said on Friday. Cuomo estimates more than 2.3 million people will benefit from the wage increase. The 50-cent increase translates to an extra $1,040 per year.
"In many cases, our employers are paying beyond minimum wage", he said.
Assemblyman Andy Goodell, R-Jamestown, said many economic studies have been done that show there will be a loss of entry-level jobs as the wages in NY state increase. This is the third increase for fast-food employees in NY since a state wage board recommended the pay raises in 2015.
Starting Monday, small companies - those with 25 or fewer employees - will have to pay workers at least $10.50 an hour, up from $10.
Minimum wage workers are already making more than that in Emeryville, where the minimum wage is $15.20 - reportedly the highest rate in the country.