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Informing and Connecting Engaged Citizens
New Jersey
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December 29, 2014
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NJ Policy Perspective Releases Report on 2015 Minimum Wage Increase

"On January 1, 2015, New Jersey’s minimum wage will rise by 1.59 percent to $8.38 per hour,[1] giving approximately 176,000 Garden State workers a slight pay increase in the new year, reports NJ PolicyPerspective

"To call this 13-cent wage increase “modest” would be a huge understatement. But the lifting of the wage floor is an important illustration of smart policy design and the power of 'indexing' minimum wages. Without a minimum wage that was tied to rising costs of living, as New Jersey’s now is, these workers would see a decline in the purchasing power of their meager wages."

"Policymakers were smart to include indexing in their work on the 2013 wage increase, but that does not mean they can 'set it and forget it.' There is clearly more work to be done to improve the economic security of the Garden State’s low-wage workers."

"Of the 176,000 workers affected by the wage increase, 130,000 are directly affected – meaning they currently make between $8.25 and $8.37 per hour – and the remaining 46,000 are indirectly affected – meaning they currently make $8.38 per hour or slightly more and will see their pay increase as employer pay scales are adjusted upward to reflect the new minimum wage.[2] Overall, these 176,000 workers will see an average annual wage increase of $313 in 2015."

See link to full article below.
Source:
New Jersey Policy Perspective Report New Jersey Policy Perspective Publication
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