New Jersey: The annual minimum wage increase goes into effect.
January 1, 2024
New Jersey’s Constitution requires an annual review of its minimum wage. The minimum wage must be increased by the percentage the cost of living has changed from the prior September 30 to September 30 in the year the review is conducted. The cost of living change is based on consumer price index for all urban wage earners and clerical workers (CPI-W) published by the federal government. Any change to the minimum wage takes effect on January 1 of the following year. Additionally, if the federal minimum wage is raised to a level higher than that of New Jersey, New Jersey’s minimum wage automatically increases to the higher federal rate and all subsequent cost of living increases to New Jersey’s minimum wage will be based off of the new rate. NJ Constitution Art. I, Section 23