Minimum wage increase set to hit NJ amid inflation struggles
New Jersey residents struggling amid high inflation may get some relief in the form of an upcoming statewide minimum wage increase.
The minimum wage will go up by $1.13 to $14.13 per hour for most employees, effective Jan. 1, 2023.
The increases were set by Gov. Phil Murphy in February 2019, as part of a plan that raises minimum pay to $15 per hour by 2024 for most employees.
Under the law, the minimum wage increases by $1 per hour or more when there are significant increases in the Consumer Price Index (CPI), as happened this year.
The consumer price index is affecting overall grocery prices, which jumped 13.5% over last year.
Egg prices are up nearly 40%. Flour more than 23%. Milk is up 17% and bread has increased more than 16%.