It's the latest increase as New Jersey phases in what eventually be a $15 an hour minimum wage.
Small businesses with less than six employees and seasonal businesses have until 2026 to reach $15 per hour. Those workers will see a pay increase to $11.90 an hour, up from $11.10., such as restaurant employees and bartenders, will see their pay rise by $1 to $5.13, though if tips don’t bring up them up to $13 an hour, employers must make up the difference.
“A higher minimum wage also ensures that more families can cope with increased financial pressures from the pandemic. When workers are paid more, that money is often spent immediately and locally — so minimum wage increases also benefit businesses and the broader economy.” “For some businesses with very small profit margins — or if they’re profiting at all — the extra dollar per hour could indeed prove to be an added challenge, especially if they’re now paying increased costs for supplies and shipping,” Considine said.
“The good news about our minimum wage legislation is everybody knew it was coming,” Bracken said. “No surprises. No one really liked it but the fact that it was phased in over a bunch of years, people could plan for it.”found 72% of employers increasing workers’ pay, compared with 54% who reported pay hikes in 2020. And 33% of employers raised wages by least 5%, compared with 12% who did a year earlier.
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