A big problem because it means a federal worker in NYC gets as much as a federal worker in Mississippi. That it hasn't changed for 20 years suggests both are underpaid, but the NYC worker has definitely got to get another job.
The minimum wage rate in New York is $14.20 per hour as of December 31, 2022. The minimum wage rates differ based on industry and region. The minimum wage will increase each year until it reaches $15.00 per hour