New Jersey Minimum Wage Increase $1.13 $14.13 2023

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The good news is that according to NJ.com, New Jersey's minimum wage will be increasing by more than $1.00 starting in the new year.

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The hourly increase will be an additional $1.13 making the new minimum wage $14.13 as of January 1st, 2023.

Originally, the goal was to increase the Garden State's minimum wage by $1.00 each year until we reached $15.00 per hour by 2024.

The added increase is due to increased cost of living and record-high inflation rates.

“The Governor and Legislature had the forethought to account for the possibility of rising costs in their historic minimum wage law, which helps low-wage workers better provide for themselves and their families,” Labor Commissioner Robert Asaro-Angelo said according to NJ.com. “Every extra dollar in the paychecks of our lowest wage workers is helpful.”

True, it is helpful.

But the real question is how helpful?

While I personally appreciate New Jersey officials acknowledging that things are tough right now and there just isn't enough money to go around, what is someone going to do with an extra $.13 an hour?

$13.00/hour X 40 hours per week = $520/week pre-taxed = $2,080 per month

$14/hour X 40 hours per week = $560/week pre-taxed = $2,240 per month

$14.13/hour X 40 hours per week = $565.20/week pre-taxed = $2,260.80

It only equates to an extra forty bucks per month. Do you see what I'm saying?

I get that the plan for a higher minimum wage was originally made years ago but once officials see the cost of living exponentially increase, adjustments need to be made accordingly.

IcemanJ

Maybe I have unrealistic expectations for our state but these wages require working two full time jobs to afford life in New Jersey.

I've also heard many people say minimum wage jobs were not made to support a family. However, what are you supposed to do if you cannot afford college?

There are other options but we have to make this a winnable situation, even for those at the bottom.

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This kind of feels similar to New Jersey "discounting" the gas tax by $.01 starting this October.

It's a slap in the face. But I guess we will just have to see how this plays out.

Once New Jersey does reach a $15.00 hour, minimum wage, "will continue to be adjusted on an annual bases based on the CPI."

How high do you think the minimum wage SHOULD go? Email me: Nicole.Murray@townsquaremedia.com.

Hmmm, maybe we should all just switch careers:

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