With the stroke of a pen, New Jersey Governor Phil Murphy may have just given thousands of state workers a raise.
On Monday, the governor signed legislation (A-15) that will gradually increase New Jersey's minimum wage to $15 per hour. The measure, which sailed through the state’s Democrat-controlled legislature, now makes New Jersey the third-largest state to enact such an increase. New York and California approved $15 minimum wages in 2016.
New York-area airport workers will soon have the highest minimum wage in the country. The increase will raise the minimum hourly rate for almost 40,000 airport workers to $19 by 2023.
On October 29, the state of New Jersey will usher in a new mandate requiring most employers across the state to provide paid sick days to employees. Gov. Phil Murphy signed the act into law on May 2, making New Jersey the tenth state to implement mandatory paid sick leave. With the law taking effect in just a few days, here’s what you need to know to be prepared.
The New Jersey Division of Taxation recently signed off on a new tax rate of 10.75% on individuals with an income over $5 million. The new rate is applied to $5,000,000 in income regardless of filing status (ex: single, married, etc). The new rate is certain to generate more tax revenue for the state. It also gives New Jersey the distinction of having the third highest top-income tax rate in the United States—slightly behind Hawaii’s 11% (for income over $200,000) and California’s 13.3% (imposed on income over $1 million).
The gender pay gap might have just met its match. With a new governor at the reins, Garden State lawmakers have taken unprecedented steps to bolster their state’s equal pay laws.
Get the latest news from Namely about HR, payroll, and benefits.