Minimum Wage Increase
The New Jersey legislature is
finalizing a bill that will go to Governor Christie that
raises the state’s minimum wage to $8.50 per hour.
The current rate is $7.50
The legislation also link
the minimum wage to annual adjustments based on the consumer
If adopted under the new
legislature it would mean a $50 per week raise for someone
working 40 hours.
For a small business with
5 employees making minimum wage it would mean a $250.00
weekly increase to the payrolls and for one month that would
mean a $1,000.000 increase.
The NFIB strongly opposes the
legislation, citing that it would lead to increased
operating costs for New Jersey small businesses.
“Operating cost increases
could also be projected onto consumers, further raising the
fees for goods and services in New Jersey.”
They are encouraging
members to contact their legislature by visiting the
New Jersey legislature webisite.
Final voting on the measure is
expected to take place on 17 December 2012.
Governor Christie have not
announced whether or not he would approve or veto the
If approved it would be a
17 percent increase and it would make New Jersey the state
with the highest minimum wage on the east coast.
National Federation of Independent Businesses (NFIB)