Insurance

NJ Minimum Wage Increase

The minimum wage for employers with six or more employees in New Jersey has been raised to $10.00 per hour as of July 1, 2019.  The rate will rise $1.00 to $11.00 per hour on January 1, 2020 and then an additional $1.00 each year until reaching $15.00 in 2024. 

For employers with fewer than six employees, the minimum wage will not be raised until January 1, 2020, when it will be $10.30.  The rate will then rise $0.80 each year until 2025.  It will then increase $0.70 to an even $15.00 in 2026. 

The minimum wage will rise according to these planned amounts or the Consumer Price Index (CPI), whichever is higher.  The minimum wage will continue to rise after these dates in accordance with the CPI. 

For more details, please see this summary of the changes  provided by our Government Affairs Counsel. 

Breakdown for employers with fewer than six employees:

• Jan 1, 2020: at least $10.30

• Jan 1, 2021: at least $11.10

• Jan 1, 2022: at least $11.90

• Jan 1, 2023: at least $12.70

• Jan 1, 2024: at least $13.50

• Jan 1, 2025: at least $14.30

• Jan 1, 2026: at least $15.00

Breakdown for employers with six or more employees:

• July 1, 2019: $10.00

• Jan 1, 2020: at least $11.00

• Jan 1, 2021: at least $12.00

• Jan 1, 2022: at least $13.00

• Jan 1, 2023: at least $14.00

• Jan 1, 2024: at least $15.00