The bill raises the wage in increments to $15.
On Jan. 31, New Jersey’s state Assembly and Senate passed legislation to increase the state’s minimum wage to $15 an hour by 2024. On Monday Feb. 4 Governor Murphy signed the bill into law.
Under the legislation, the state’s $8.85 minimum wage would increase to $10 an hour in July 2019. The minimum wage would continue to increase by $1 effective Jan. 1, 2020 until it reaches $15 on Jan. 1, 2024.
The minimum wage for tipped workers will increase from $2.13 to $5.13 per hour over the five-year period, and minimum wage for farm laborers will increase to $12.50 per hour by Jan. 2, 2024.
However, businesses with fewer than six employees would not have to pay the full $15 an hour until 2026.
But while many are optimistic about the increase, State Sen. Chris Brown—who voted against the bill—shared concern over the proposal’s potential negative effects.
“Listening to Atlantic County working families, from parents of high school kids who run amusement rides, college students waiting tables to pay for school, merchants selling T-shirts on the boardwalk, to local farmers growing produce, they all agree raising the minimum wage will end up hurting the very families it’s supposed to help, because businesses will cut jobs and employee hours,” said Brown in a statement following the bill’s passing.
To share how the proposed bill would impact your business, email NFIB’s Senior Grassroots Manager Casey Kooistra at [email protected]