Legislative Alert: Minimum Wage to be Raised to $15 by 2024
December 7th, 2018
Assembly Speaker Craig Coughlin introduced legislation yesterday which
raises the minimum wage to $15/hr by 2024.
to read the bill.
- On January 1st, New Jersey’s minimum wage will increase to $8.85/hr. This legislation would increase it again on July 1, 2019 to $9.50/hr.
- On January 1, 2020, the minimum wage will be raised to $11/hr per hour.
- These increases will then be followed by an increase of $1.15/hr every year from 2021 to 2024, reaching $15/hr in 2024.
- The legislation delays the $15 minimum wage until 2029 for certain employees, including small businesses of 10 or less employees, seasonal employees, farm workers and employees under the age of 18. Employees included in the above scenarios would see an increase in the minimum wage on the following schedule.
Jan 2019 – $8.85
Jan 2020 – $10.10
Jan 2022 – $10.35
Jan 2023 – $10.70
Jan 2024 – $11.10
Jan 2025 – $11.70
Jan 2026 – $12.45
Jan 2027 – $13.20
Jan 2028 – $14.10
Jan 2029 – $15.00
- The legislation also requires full-time students employed by the college or university, no less than 85% of the effective minimum wage.
- Gov, Murphy is on record saying he would like to see a $15/hr minimum wage increase this year as opposed to the proposed phase-in schedule in the bill.
- On Monday December 10, the Assembly Labor Committee will hold a hearing on the bill.
- In order to prepare, please let CIANJ know if your business will be impacted by this legislation and please let us know if you would like to testify at the hearing. It is important that your voices be heard. Thank you for your feedback.