How New Jersey's minimum wage reached $15.13 per hour

The minimum wage in New Jersey is $15.13 per hour for most workers, effective January 1, 2024.

New Jersey has a history of gradually increasing its minimum wage to ensure fair compensation for workers. Here's a simplified timeline:

• Early years: The minimum wage in New Jersey started slightly above the federal minimum wage in the 1960s and 1970s, with gradual increases over the decades.
• 1990s: The minimum wage remained stagnant for several years.
• 2000s: There were some increases, but the most significant change came in 2006 when New Jersey began phasing in a $7.25 minimum wage to match the federal level, completed by 2010.
• Recent years: New Jersey has taken a more proactive approach. In 2014 and 2015, there were increases, and then a series of significant hikes started in 2020, leading to the current rate of $15.13 per hour as of January 2024.

Factors influencing minimum wage changes

Several key factors have influenced New Jersey's minimum wage trajectory:

• Economic Conditions: Periods of economic growth often coincide with minimum wage increases, while economic downturns might lead to more cautious approaches.
• Cost of Living: The rising cost of living in New Jersey, particularly housing and transportation, has been a significant driver for higher minimum wages.
• Political Climate: The political leanings of the state government and public opinion on minimum wage have played a crucial role in determining wage levels.
• Federal Minimum Wage: While New Jersey has often surpassed the federal minimum wage, changes at the federal level can influence state policies.