On Monday, New Jersey Governor Phil Murphy signed legislation that will raise the minimum wage in New Jersey from what is now $8.85 an hour to $15 an hour by 2024. Murphy called the legislation a “huge step forward” for more than 1.2 million minimum-wage employees in the state. The governor also claimed that the higher minimum wage would be good for small businesses, although how that would be is unclear.
The bill, approved by the Democrat-led Assembly and Senate, will phase in the newly legislated $15 minimum wage over the next five years. The minimum wage will rise to $10 on July 1st of 2019, and then rise by $1 each year until reaching $15 per hour in 2024.
Republicans argue that raising the minimum wage will hurt low income workers, with higher unemployment rates and small businesses slashing employee benefits to control their rising costs.
With the signing of the bill, Governor Murphy fulfills one of his core campaign promises backed by liberal groups in large part because of his stance on the minimum wage.
New Jersey joins New York, California, Massachusetts, and the District of Columbia as the only states with a $15 minimum wage.
Thank you very much.
Now, we will pay higher prices at Walmart, supermarkets, and anywhere else that employs lower-level employees.
Many people working at minimum wage will lose their jobs.
Stores will have to be open for shorter hours.
More bureaucracy, less free enterprise.
How will this help anyone?
I will be laying off some workers!!
I live in a town with a $15 minimum wage in effect for 3 years. We’ve lost zero businesses and attracted new ones. My town is the size of Lkwd.
Here in Ontario they introduced $15 minimum wage and most food items went up in price immediately. Also many people lost their minimum wage jobs because it didn’t pay to keep them anymore.
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