New Jersey Ups Minimum Wage to $15

New Jersey minimum wage to gradually increase to $15 an hour by 2024.

New Jersey becomes the fourth state to increase its minimum wage to $15 an hour, joining California, Massachusetts, New York and the District of Columbia in the distinction.

According to CBSNews, Gov. Phil Murphy signed the bill into law on Feb. 5. The bill will gradually increase the minimum wage over five years until it reaches $15 an hour.

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First the bill will increase New Jersey’s current $8.85 minimum wage to $10 an hour this July. After that, the minimum wage will grow by $1 per year until it hits $15 in 2014.

CBSNews pointed out the following exceptions: Farm workers will see their wages climb to $12.50 over five years, while those working for small businesses and seasonal employees will reach $15 an hour in 2026—not 2024. Tipped workers who now make $2.13 an hour will see that grow to $5.13 an hour by 2024.

Republican senators voiced concerns that the increase in the minimum wage would result in layoffs and a move toward automation.