MONDAY: NJ minimum wage rises to $10 an hour, doesn’t affect businesses with under 5 employees

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New Jersey’s minimum wage will rise $10 an hour on Monday, an increase of over one dollar.

The increase is part of a five-year plan to raise the minimum wage to $15 an hour by 2024.

The increase from $8.85 to $10, comes months after Gov. Murphy signed landmark legislation to raise the minimum wage to $15 for most workers. A second increase is set to take place Jan. 1st.

The average full time employee, will see a roughly $2,200 increase.

The increase, however, only applies to companies with five or more employees. Smaller businesses don’t have an increase until January 2020.

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