By Matthew Fazelpoor
NJBIZ, January 1, 2024
As 2024 rings in, it also marks the crossing of a notable threshold here in the Garden State when the minimum wage increases Jan. 1 to $15.13 per hour. That figure, affecting some 350,000 of New Jersey’s nearly 1.9 million hourly workers, surpasses the $15 per hour goal set into law in 2019 and makes the state one of just a handful to reach that mark. ...
In a press release, Business for a Fair Minimum Wage applauded the 22 states (including New Jersey) that are ringing in the new year with a minimum wage increase. According to the national network of business organizations, owners and executives that believe an increased minimum wage makes good business sense, another three states and the District of Columbia are scheduled for increases later in 2024.
“Minimum wage increases are a great way to start the new year,” said Holly Sklar, CEO, Business for a Fair Minimum Wage. “They help workers put food on the table and keep a roof overhead and they boost the consumer spending that businesses depend on. Fairer wages help businesses hire and retain employees and deliver the reliable customer service that leads to repeat customers instead of lost customers. While the federal minimum wage falls further and further behind the cost of living at just $7.25 an hour, state increases are vital for workers, businesses, and communities.”