NEW JERSEY — Inflation will push New Jersey's minimum wage slightly higher than originally scheduled. Instead of rising to $14 per hour in 2023, the minimum wage will reach $14.13.
New Jersey passed a law in 2019 that gradually raised the minimum wage from $8.60 to $15 per hour for most employees by 2024. The current wage, as of Jan. 1, is $13 per hour.
During the transition period to the $15 minimum wage, New Jersey typically raises the figure by $1 each year. But under the state law, the minimum can increase more in the event of significant increases in the Consumer Price Index — a figure used to measure inflation.
"The Governor and Legislature had the forethought to account for the possibility of rising costs in their historic minimum wage law, which helps low-wage workers better provide for themselves and their families," state Labor Commissioner Robert Asaro-Angelo said in a statement. "Every extra dollar in the paychecks of our lowest wage workers is helpful."
But for each worker, the difference in pay from the originally planned $14 per hour may not make much difference. The extra 13 cents per hour would give a full-time, minimum-wage employee an extra $270.40 per year — before taxes and other paycheck deductions.
New Jersey will still have one of the highest minimum wages in the nation, especially with the federal minimum wage at $7.25 since 2009. The 13-year gap marks the longest the federal government has gone without upping the minimum wage since it was first...
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