ASSEMBLY LABOR COMMITTEE

 

STATEMENT TO

 

ASSEMBLY, No. 2162

 

STATE OF NEW JERSEY

 

DATED:  FEBRUARY 23, 2012

 

      The Assembly Labor Committee reports favorably Assembly Bill No. 2162.

      This bill increases New Jersey's hourly minimum wage rate to $8.50 on July 1, 2012 and then requires that, starting in calendar year 2013, the minimum wage rate be adjusted annually, based on any increase in the Consumer Price Index (CPI) in the previous calendar year, with the adjustment taking effect on July 1 of each year.