I’ve bought excellent news and dangerous information.
Which might you want first?
The excellent news is that in accordance with NJ.com, New Jersey’s minimal wage might be rising by greater than $1.00 beginning within the new yr.
The hourly improve might be a further $1.13 making the brand new minimal wage $14.13 as of January 1st, 2023.
Initially, the purpose was to extend the Backyard State’s minimal wage by $1.00 every year till we reached $15.00 per hour by 2024.
The added improve is because of elevated value of residing and record-high inflation charges.
“The Governor and Legislature had the forethought to account for the opportunity of rising prices of their historic minimal wage legislation, which helps low-wage employees higher present for themselves and their households,” Labor Commissioner Robert Asaro-Angelo stated in accordance with NJ.com. “Each additional greenback within the paychecks of our lowest wage employees is useful.”
True, it’s useful.
However the actual query is how useful?
Whereas I personally respect New Jersey officers acknowledging that issues are powerful proper now and there simply is not sufficient cash to go round, what’s somebody going to do with an additional $.13 an hour?
$13.00/hour X 40 hours per week = $520/week pre-taxed = $2,080 monthly
$14/hour X 40 hours per week = $560/week pre-taxed = $2,240 monthly
$14.13/hour X 40 hours per week = $565.20/week pre-taxed = $2,260.80
It solely equates to an additional forty bucks monthly. Do you see what I am saying?
I get that the plan for a better minimal wage was initially made years in the past however as soon as officers see the price of residing exponentially improve, changes should be made accordingly.
Possibly I’ve unrealistic expectations for our state however these wages require working two full time jobs to afford life in New Jersey.
I’ve additionally heard many individuals say minimal wage jobs weren’t made to help a household. Nonetheless, what are you presupposed to do in the event you can not afford college?
There are different choices however we’ve got to make this a winnable state of affairs, even for these on the backside.
This type of feels much like New Jersey “discounting” the gasoline tax by $.01 beginning this October.
It is a slap within the face. However I suppose we’ll simply need to see how this performs out.
As soon as New Jersey does attain a $15.00 hour, minimal wage, “will proceed to be adjusted on an annual bases primarily based on the CPI.”
How excessive do you assume the minimal wage SHOULD go? Electronic mail me: [email protected].
Hmmm, possibly we should always all simply swap careers:
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