New Jersey’s new Minimum wage law takes effect on July 1st, 2019. Signed on February 4th, the new state minimum wage will be 10 dollars an hour with the goal of increasing it to $15 dollars an hour by 2024. In comparison, the current minimum federal wage level is $7.25.
New Jersey becomes the third largest state after California and New York to increase its minimum wage. Most workers will see their wages increase to 10 starting on July 1st then go up an extra dollar every year. For agricultural workers, their wages will increase to $10.30 an hour beginning January 1st 2020, with the goal of reach $12.50 an hour by 2024. When Governor Phil Murphy signed the legislation, he praised the deal he made. “Today, we are taking a historic step to provide more than one million New Jersey workers a stronger foothold in the middle class.”
As various states begin to discuss increasing their minimum wages, insurance companies should take heed of the changing wage laws. Employers must also adapt and inform workers of their legal rights.