Mayor Bill de Blasio has signed an executive order expanding New York City's living-wage law.

The changes will only affect companies that receive more than $1 million in city subsidies.

Under the new law, people who work for companies that meet the requirements will receive wages of $13.13 an hour without benefits. People that do receive benefits are guaranteed a wage of $11.50 an hour. Currently, the minimum wage is $8.

Mayor de Blasio says that the difference will add up to over $10,000 in earnings a year.

An estimated 18,000 workers will be covered under the law over the next five years.