During Thursday’s Assembly Commerce and Economic Development hearing, the committee heard testimony from a representative from the New Jersey Business & Industry Association regarding feedback the association has received from business owners along the Jersey Shore on the impact increasing the minimum wage will have on their recovery efforts.
Deputy Republican Leader Anthony M. Bucco, R- Morris and Somerset, who is a member of the committee, issued the following statement regarding the information conveyed:
“The testimony heard regarding the impact of increasing the minimum wage on small businesses along the Jersey Shore confirmed my belief that they cannot withstand a 17 percent increases in labor costs. The cost of labor is an important factor in deciding how many people they can hire,
"if they decide to make the commitment to resume their operation. Most are seasonal businesses that employ students and younger people. Increasing the minimum wage will impact those who make a living on the boardwalk and the people they employ."
The approved bill, A-2162, would increase the minimum wage from $7.25 per hour to $8.50 per hour and also provides for annual increases based on the Consumer Price Index (CPI).