Increasing the federal minimum wage from $7.25 to $9.80 per hour would give 485,660 New Jersey workers an average raise of $596 per year, giving struggling low-wage workers a crucial leg up in high-cost New Jersey while stimulating the state’s economy through increased consumer spending, according to a new issue brief prepared by the Economic Policy Institute (EPI).
The \”Fair Minimum Wage Act,\” introduced by Iowa Senator Tom Harkins, would raise the minimum wage to $9.60 in three incremental increases of 85 cents an hour, and would tie future increases to inflation.
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