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New Jersey is set to become one of a handful of states with a minimum wage of at least $15/hour on January 1, 2024 when the rate increases to $15.13/hour, million hourly workers. Many non-hourly employees will also see at least an indirect benefit from the statewide increase that applies to most workers. hour, up from $12.01/hour.
The increase will be reflected in higher workers’ compensation benefit rates as those are paired with the State Average Weekly Wage (SAWW). Rates for the payment of workers' compensation benefits are statutorily fixed at an amount equal to 70% of the workers' weekly wages received at the time of the accident.
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