Governor Phil Murphy signed legislation several years ago that gradually raises New Jersey’s minimum wage to $15/hour for most workers by 2024. The bill raised the Statewide minimum wage to $11/hour on January 1, 2020 and will raise it to $13/hour on January 1, 2022. It will continue increasing by $1 per hour every January 1 until reaching $15 on January 1, 2024.
Employers across the State, including auto retailers, continue to be concerned about the impact the increase will have on businesses in the event of a prolonged economic downturn, as well as the upward pressure to increase the pay of hourly employees who are currently making $9-15/hour.