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Business owners in New Jersey, Oregon and Washington, D.C. are looking forward to the economic boost that will come with minimum wage increases taking effect on July 1. New Jersey is taking the first step in implementing gradual increases to a $15 minimum wage while Washington, D.C. will reach $15 by 2020.
Raising the minimum wage will increase consumer buying power, foster a more stable productive workforce, and strengthen local businesses and communities.
“These state raises are welcome increases for businesses, as they need customers with money in their pockets to thrive. It’s especially good news given that we are now experiencing the longest period in history without an increase in the federal minimum wage since it was enacted in 1938. A moribund minimum wage doesn’t do businesses any good, which is why more and more business owners are speaking out to encourage raising the minimum wage,” said Holly Sklar, CEO of Business for a Fair Minimum Wage. Nearly 900 business owners across the country and counting have signed a Business for a Fair Minimum Wage statement supporting raising the federal minimum wage to $15 by 2024.
Here are comments from business owners where the minimum wage is going up July 1:
Gail Friedberg, co-owner, Zago Manufacturing, Newark, NJ said, “We’re very happy New Jersey’s minimum wage is increasing. We support a $15 minimum wage because no one who works full-time should live in poverty. And we know from experience that fair pay is better for business. It brings low turnover, which helps us innovate. With a higher wage floor and more dependable workforce, business owners can think about ways to make the business better instead of spending time and money to replace people who left to find a job that pays the bills. I look forward to seeing the economic ripple effect our state will experience thanks to raising the minimum wage.”
Adam Woods, owner, Camden Printworks, Camden, NJ said, “We’ve always paid above the minimum wage, and it shows in our business success. Customers come back again and again because employees are dedicated, happy and engaged. I look forward to workers having more money in their pocket. Not only will it give local communities a boost, but it will put us on a more level playing field with corporate competitors that undercut us – and our local economy – on wages.”
Kevin Marr, co-owner, Motel Del Rogue, Grants Pass, OR said, “We’ve always paid above the minimum wage and it has paid off with employee loyalty and good service for our guests. We have employees staying for years, which is a real benefit in a rural area where it is hard to find workers. We want our employees to earn a living wage and live healthy, secure lives. And whether rural or urban, businesses need customers who can afford what they are selling. When minimum wages go up on July 1 it will give our area and our state a boost.”
Gina Schaefer, owner of A Few Cool Hardware Stores, a group of 11 Ace Hardware stores in Washington D.C., Maryland and Virginia said, “Local businesses depend on local customers with money to spend. Raising pay at the bottom is good for the bottom line. When employees earn a decent starting wage, they can concentrate on their job and on customers without continual stress over making ends meet. When the minimum wage goes up it puts money in the paychecks of people who most need to spend it – from making rent to buying things from the grocer, the pharmacy and, yes, the hardware store.”
July 1 increases include:
- New Jersey increases its minimum wage from $8.85 to $10, with future increases to $15 by 2024 for most workers.
- Oregon increases the standard minimum wage rate from $10.75 to $11.25; the metro Portland rate goes from $12 to $12.50; and the rate for non-urban counties goes from $10.50 to $11. See this chart for future increases.
- Washington, D.C.increases from $13.25 to $14, with future increase to $15 by 2020.
