How much New Jersey's minimum wage will increase on Jan. 1, 2024

NEW JERSEY - New Jersey’s statewide minimum wage will be raised by $1 to $15.13 per hour for most employees on Jan. 1, 2024.

The increase was part of a scheduled hike stemming from a 2019 bill signed by Gov. Phil Murphy. The legislation phases in a $15 an hour minimum wage, which will be reached by 2024.

When Murphy took office back in 2018, the state’s minimum wage was $8.60 per hour.

"When I first came to office, one of my top priorities was to increase the minimum wage for millions of New Jerseyans," Murphy said. "One year later, we put pen to paper and officially signed legislation to raise New Jersey’s minimum wage to $15 per hour by 2024."

Under the law, seasonal and small employers were given until 2026 to reach $15 per hour to lessen the impact on their businesses.

"As we approach this long-awaited benchmark, I am hopeful that New Jersey workers will be able to improve their quality of life and secure a better future for their families in the middle class," Murphy said. "Our Administration will continue to prioritize our workers, who are the backbone of our economy."

The federal minimum wage in the United States has stayed at $7.25 per hour since 2009, but states and some localities are free to set higher amounts. Thirty states have chosen to do so.

"This is a proud moment for New Jersey as we prepare to become one of only a handful of states with a minimum wage above $15 an hour," said Labor Commissioner Robert Asaro-Angelo. 

New York minimum wage increase

In New York State, the minimum wage will raise to $16 an hour for employees in New York City, Long Island and Westchester, beginning in 2024, as well as $15 elsewhere in the state.

The 2024 increases will be followed by $0.50 annual increases in both 2025 and 2026.

"In the face of steadily rising costs and inflation, this historic plan to overhaul New York's minimum wage will ensure that the wages of those hit hardest by the affordability crisis - including women, single mothers and people of color -- keep pace with the cost of living," New York Gov. Kathy Hochul said. 

Connecticut minimum wage increase

Connecticut's current minimum wage is $15 per hour and will increase to $15.69 per hour on Jan. 1. Like New York and New Jersey, the minimum wage is indexed for inflation, meaning it is automatically adjusted each year for increases in prices. 

The employment cost index increased by 4.6% from June 2022 to June 2023, accounting for a $0.69 increase, officials said.

The federal minimum wage in the United States has stayed at $7.25 per hour since 2009, but states and some localities are free to set higher amounts. Thirty states have chosen to do so.