NJ Senate Passes CPI-Tied Minimum Wage Increase

Law360, New York (November 29, 2012, 9:39 PM EST) -- The New Jersey Senate on Thursday voted along party lines to increase the state's minimum wage to $8.50 and hitch future increases to the Consumer Price Index, overcoming Republican arguments that it would hurt businesses working to recover from Superstorm Sandy.

Democrats countered that New Jersey's current minimum wage of $7.25 per hour is woefully inadequate in a state with such a high cost of living. Bumping up that rate would help struggling residents work their way out of poverty and put more money in the...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.