Minimum wage is on the rise in New Jersey. The Garden State enacted the increase — from $8.85 to $10 — on Monday, the first in a series of pay hikes meant to bring the state to a $15 minimum wage by 2024.
Governor Phil Murphy signed the increase into law in February, and it's expected to impact more than one million New Jersey residents.
Both of the state's senators, Bob Menedez and Cory Booker, supported the legislation.
Seven states have passed similar “Fight for 15” laws, and this year, 18 states have raised their minimum wage ー though not necessarily to $15-an-hour -- according to the National Conference of State Legislators.
Still, on the federal level, the campaign for a $15 minimum wage has not seen success.
The Raise the Wage Act, which would increase that benchmark by 2024, is stalled in the legislature without Republican support.
Today, more than 80 million Americans are paid by the hour, according to the Bureau of Labor Statistics.
Meanwhile, more than half a million Americans make the current federal minimum wage, which has hovered at just above $7 an hour since 2009.
Lavu CEO Saleem Khatri joins to explain how AI-powered POS systems are changing how major franchises like KFC take orders, cut costs, and serve customers faster
BillionToOne's Jen Hoskovec breaks down the Unity test, the latest in prenatal genetic screening, and what it means for those born with genetic conditions.
Orangetheory Brand President Lauren Cody on the fitness industry's shift from chasing aesthetics to prioritizing longevity and measurable health and wellness.
Peachtree Group CEO Greg Friedman breaks down the Fed's rate decision and the Senate's housing affordability bill and what it means for commercial real estate.
