Popular New Jersey Retail Chain is Raising Minimum Wage to Almost $20
New Jersey has come a long way with its minimum wage.
Getting the Garden State to its current hourly base pay for employees took many years.
As of January 1, 2024, the minimum wage for most employees in New Jersey is $15.00 per hour.
This increase is part of a gradual rise that began in 2019, when the state passed legislation to reach a $15 minimum wage by 2024.
The law doesn't end there. It also allows for annual adjustments based on the Consumer Price Index (CPI), helping wages keep pace with inflation.
There are a few exceptions for specific groups.
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For instance, seasonal workers and employees of small businesses with fewer than six workers currently have a minimum wage of $14.90 per hour.
Tipped employees, such as those in the restaurant industry, have a lower base wage, but employers must ensure that their tips bring their total earnings up to at least $15.00 per hour.
The minimum wage increase has been met with mixed reactions.
Proponents argue it provides workers with a living wage and reduces poverty, while critics claim it could lead to higher business costs, potentially affecting employment rates and pricing.
One retail giant has kept its company minimum wage above the state wage for years.
In a recent statement, the CEO said:
Inflation has negatively impacted nearly all businesses, individuals, and families over the past several years. We have worked hard to hold our prices down and are thankful for our continued success as a company. As we head into the joyous holiday season, we are thrilled to share that success with thousands of our employees.
Hobby Lobby, an arts and crafts retailer, has 10 locations in New Jersey.
Not many companies can say they've offered their employees 13 pay increases in the past 15 years.
Hobby Lobby reports that full-time employees will now earn $19.25 an hour as a minimum wage.
How many of these have you been to?
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Gallery Credit: Madison Troyer
