The New Year is bringing with it several changes.. And a little more change in the pockets of New Jersey workers who make minimum wage. But will the hike hurt business owners?>> wendy davis: WFMZ's Will Lewis joins us now in the studio with more. People will see an increase in this year's minimum wage... And every year after.. thanks to legislation that was passed in 2013. The question now is will business owners be able to keep up?>> reporter It's a little more money to take to the bank for workers earning minimum wage in New Jersey. The hourly rate jumped from $8.25 and hour to $8.38..>> richard prisco, phillipsburg RESIDENT"It's better than nothing, but still people that make three or four hundred dollars a week can't afford to live off of that.">> stem"a increase is always good i think. It's low enough as it is.">> reporter The voter ballot initiative passed in 2013 is expected to help 176 thousand workers according to the New Jersey Policy Perspective.. But some businesses, like Shammy Shine in Phillipsburg, say they are already paying more than the minimum.>> michael stem, manager, shammy SHINE"It gives a little more incentive to do a good job.">> reporter The increase in minimum wage should be the first of many. The pay rate will increase each year as long at the Consumer Price Index rises. For the last five years the c-p-i has gone up at least one and a half percent. In 2011 the index jumped three percent. Meaning business owners already paying more than minimum wage now may have to give bigger raises down the line. If their budget allows it.>> STEM'We're always going up a little bit because as prices and the cost of living goes up, wages have to go up. It's just how it is." Those earning minimum wage won't get an increase if the Consumer Price Consumer Price Index stays the Index stays the same or we experience a year of deflation.>>> rob vaughn: living goes up, wages have to go up. It's just how it is." Those earning minimum wage won't get an increase if the Consumer Price Index stays the same or we experience a year of deflation.
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