Moving past $15/hour in 2024, upticks now tied to Consumer Price Index
Matthew Fazelpoor//October 9, 2024//
Gov. Phil Murphy signed landmark legislation to raise New Jersey’s minimum wage to $15/hour on Feb. 4, 2019. - PROVIDED BY EDWIN J. TORRES/GOVERNOR'S OFFICE
Gov. Phil Murphy signed landmark legislation to raise New Jersey’s minimum wage to $15/hour on Feb. 4, 2019. - PROVIDED BY EDWIN J. TORRES/GOVERNOR'S OFFICE
Moving past $15/hour in 2024, upticks now tied to Consumer Price Index
Matthew Fazelpoor//October 9, 2024//
The New Jersey Department of Labor & Workforce Development announced Oct. 8 the state minimum wage will increase $0.36 to $15.49 per hour for most employees, at the start of 2025.
The boost follows New Jersey’s passing the $15 minimum wage threshold ($15.13) to start 2024. Legislation signed in 2019 called for an annual, gradual phase-in each year until reaching that figure. After, the state constitution calls for annual rate increases based on any uptick in the Consumer Price Index (CPI).
Now, the minimum wage rate for seasonal and small business employees will continue to increase gradually until 2028 under the law, ticking up from $13.73 to $14.53 Jan. 1, 2025.
Changes in other sectors include:
“Aligning the state minimum wage with any increases in the cost of living is a critical step towards economic fairness and security for all New Jersey workers,” said Labor Commissioner Robert Asaro-Angelo. “This adjustment fosters a more equitable economy and ensures our workforce can continue to thrive.”
More information on the state’s minimum wage is available here.
In September, Bank of America also announced it raised its U.S. minimum wage – again. Click here to find out what it stands at now.