
NJ minimum wage soared with Gov. Murphy. Enough to keep up in 2025?
⚫ New Jersey's minimum hourly wage currently sits at $15.49
⚫ The wage can continue to rise based on inflation
⚫ The minimum wage was less than $9 when Gov. Murphy took office
Gov. Phil Murphy's plans to get the Garden State's minimum hourly minimum wage to at least $15 came to fruition at the start of 2024.
But the automatic raises aren't done for New Jersey workers.
Many low-wage employees in the state received another raise on Jan. 1, as the minimum wage increased in the Garden State once again to keep up with inflation. The Constitution requires adjustments to the wage, based on cost-of-living expenses.
The hourly minimum for many low-wage workers is now $15.49 in New Jersey.
"At $15.49 an hour, we are ensuring that our working neighbors can afford basic necessities — like food and housing," Gov. Phil Murphy said during his State of the State address. "But, let me be clear: these folks are not living a life of luxury. But they are living a life with less uncertainty and greater dignity."
RELATED: See how much more you're paying today for groceries
Minimum wage increases in New Jersey
Gov. Phil Murphy signed a law in 2019 that put New Jersey on track for a minimum wage of at least $15 by 2024. The ramp-up occurred, and the minimum wage actually hit $15.13 at the start of 2024.
In his address, Murphy called out the "many" who said that a $15 minimum wage would devastate New Jersey's economy.
"But now, almost six years later, we can say unequivocally: a higher minimum wage has not held our economy back — instead, it has made our economy one of the strongest in the entire region," Murphy said, according to a transcript of the speech.
The New Jersey Business & Industry Association first pushed back against Murphy's minimum wage proposal because it was calling for a clean jump to $15. The group fought for a gradual ramp-up, so businesses could rely on some predictability, and that's what eventually went into law.
"As it turned out, market conditions brought on by COVID ramped (minimum wage) to $15 an hour before five years for many employers," said NJBIA President Michele Siekerka. "From here we need to let the market dictate, given the increased costs experienced by an inflationary economy over the past two years."
Business still close every day, Siekerka said — a higher minimum wage, plus "sky-high taxes and regulatory costs" aren't a good mix.
The minimum wage in New Jersey was $8.60 per hour when Murphy took office in 2018. In his State of the State address, Murphy called $8.60 "nothing more than a starvation wage."
Buying power with today's minimum wage is significantly greater today than years ago.
Below is a rundown of minimum wage rates from different years in New Jersey, and how they compare to today's rate.
Minimum wage over the years in New Jersey
Gallery Credit: Dino Flammia
Report a correction 👈 | 👉 Contact our newsroom
NJ towns with the biggest increases in wealth
Gallery Credit: New Jersey 101.5
LOOK: Best counties to raise a family in New Jersey
Gallery Credit: Stacker
More From New Jersey 101.5 FM








