Governor Phil Murphy recently signed legislation that will raise New Jersey's minimum wage to $15 per hour by 2024.
The current minimum wage in New Jersey is $8.85 per hour. Under the new law, the base minimum wage for New Jersey workers will increase to $10 per hour on July 1, 2019. By Jan. 1, 2020, the statewide minimum wage will increase to $11 per hour, and then will increase by $1 per hour every Jan. 1 until it reaches $15 per hour on Jan. 1, 2024.
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For small business employers or those with seasonal employees, the schedule for implementation is different:
Under the bill, a seasonal worker is defined as someone whose job falls only in the window of May 1 to Sep. 30, while a small employer is any business with five workers or fewer. The wage schedule for these people is more drawn out:
- · $10.30 on Jan. 1, 2020
- · $0.80 increase every subsequent Jan. 1 until reaching $14.30 in 2025
- · $0.70 increase, to $15, on Jan. 1, 2026
- · Wage increases would then be tied to the CPI-W, plus a little extra so that the minimum wage for these workers is the same as the first group by 2028