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New NJ Min Wage Hikes: Good for Workers; Bad for the Economy?

Wednesday, November 06, 2013

WNYC

Gov. Chris Christie won re-election by about 60 percent. Voters simultaneously approved an economic measure he vehemently opposed by about the same margin. It will raise the state's hourly minimum wage by one dollar to $8.25.

The measure is embedded in the state constitution, so from now on, automatic adjustments in the wage will happen each September. Business leaders fear the higher wage will send businesses packing up for greener pastures, despite studies to the contrary.

our economists estimate it will result in the loss of tens of thousands of jobs in New Jersey and most of those job losses will come from the small biz sector
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