Trenton (October 1, 2013) – New Jersey small businesses concerned about Ballot Question #2, a proposed constitutional amendment that will raise the minimum age every year, automatically, forever, can log on to the National Federation of Independent Business (NFIB) website to find out how much their labor costs will increase if it passes.
“Most small businesses in New Jersey operate on very thin margins and they can’t afford to be surprised by higher costs,” said NFIB New Jersey Director Laurie Ehlbeck. “The calculator lets them anticipate the potential increase and start making a contingency plan in the event that it passes in November.”
NFIB and other business groups are strongly opposed to the ballot question. Most small businesses already pay more than minimum wage but many are in no position to absorb higher labor costs. Even some businesses whose workers earn more will have to raise wages to stay ahead of the minimum wage, creating an inflationary effect all the way up the pay scale.
“Our Research Foundation estimates that this initiative will destroy as many as 31,000 jobs in New Jersey and most of them will come from the small business sector,” said Ehlbeck.
She said that voters should try out the calculator too because it will help them better understand the impact on local employers.
“Giving everybody a pay raise every year forever has a superficial appeal to a lot of people who don’t associate the good intention with the practical economic consequence,” said Ehlbeck.
“It’s another way for us to educate small business owners on the impact of what most of them already consider a very bad idea,” said Ehlbeck.
For more information about NFIB, please visit www.nfib.com.