IMPORTANT LAW UPDATE FOR ALL EMPLOYERS IN NEW JERSEY
Governor Phil Murphy has signed into law a measure increasing the minimum wage in New Jersey to $15.00 per hour by 2024.
New Jersey joins California, Massachusetts, New York and the District of Columbia in phasing in a $15.00 per hour minimum wage rate.
In July 2019, the minimum wage rate will increase from $8.85 per hour to $10.00 per hour.
After that, the minimum wage rate will increase by $1.00 on January 1st of each year until it reaches $15.00 per hour on January 1, 2024.
In July 2019, the minimum wage rate for tipped employees will increase from $2.13 per hour to $2.63 per hour.
After that, the minimum wage for tipped employees will increase as follows:
o January 1, 2020 – $3.13
o January 1, 2021 – $4.13
o January 1, 2022 – $5.13
o January 1, 2023 – $5.13
o January 1, 2024 – $5.13
Further, a 2013 amendment to New Jersey’s constitution requires the minimum wage rate to increase with inflation. Therefore, once the minimum wage reaches $15.00 and $5.13 in 2024, it will continue to climb based on the consumer price index.
If you have any questions regarding the minimum wage increase in New Jersey or any other labor and employment matters, please contact an attorney at Franklin, Gringer & Cohen, P.C. at 516-228-3131.