Governor Phil Murphy has struck a deal with lawmakers to raise the state’s minimum wage to $15 an hour.
The increase will be phased in over a number of years, with the minimum wage jumping to $10 an hour in July. It would then increase one dollar every year until it reaches $15 in 2024.
“Today, we are taking a historic step to provide more than one million New Jersey workers a stronger foothold in the middle class,” Governor Murphy said in a statement.
Murphy made increasing the minimum wage a campaign promise and priority during his time in office. He said it’s good for workers, good for businesses and good for the state’s economy.
“A higher minimum wage strengthens all of New Jersey,” Murphy said.
For seasonal workers and employees at small businesses, the minimum wage increase will be phased in at a slower rate. For them, the wage will reach $15 in 2026.
“This plan will put New Jersey in the forefront of the national movement to build a high-wage economy,” Senate President Steve Sweeney said.
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