On July 1st the state of New Jersey raised the minimum wage to $10 per hour as a first step in a 5-year plan to gradually increase minimum wage rates to $15 an hour. The tipped wage also rises from $2.13 to $2.63 per hour. Democratic Governor Phil Murphy signed a bill in early February 2019 to put into effect this landmark change. Additionally, come January 1, 2020, workers can expect another boost to $11 per hour. Then in subsequent years, employees can expect a $1 increase each January 1 until minimum wage hits $15 in 2024.
What Companies are required to meet this new minimum wage requirement?
- Companies with 5 or more employees are required to adhere to this new minimum wage as of July 1, 2019.
- Small businesses employing 5 or fewer workers, as well as seasonal businesses, are not required to increase the rates of their employees until January 2020.
- Farm workers are in a similar situation and are not required to adhere to the minimum wage increase until 2020.
For help to ensure your company is in compliance with this Minimum Wage change, please contact McCloskey Partners today at firstname.lastname@example.org or call 215-716-3035 x 0