New Jersey’s minimum wage will increase by 13 cents in January 2015, from $8.25 to $8.38. The minimum wage in our State is indexed to keep pace with inflation, thanks to a constitutional amendment which passed overwhelmingly in November of 2013. While many consumer and labor advocates maintain that the minimum wage still cannot support a working family, they are thankful that the wage is set to rise each year. Business advocates, on the other hand, predict that indexing the minimum wage will cost 31,000 jobs over ten years, and disproportionately affect small business owners.
We support efforts to increase the minimum wage to a level that can support working families. The dire predictions of some in the business community have not come true in the past, nor are they likely to come true in the future.