At Wednesday’s Manufacturing Caucus hearing, two business owners expressed concerns about their ability to compete nationally and internationally if New Jersey raises the minimum wage to $15 an hour.
As NJTV reported, companies spoke one by one about some of the issues facing the industry for the caucus, chaired by Senator Bob Gordon (D-38).
“The advanced manufacturing industry contributed almost $31 billion to the state’s GDP in 2015,” correspondent Leah Mishkin said. “That’s a little over 6 percent of all output.”
Manufacturers also expressed concern over finding skilled workers.
If this state wants to compete, it needs to start thinking about reducing spending and lowering taxes instead of creating or raising taxes to reduce the deficit and fund more programs. People are leaving NJ in droves…..Trenton needs to wake up although that is doubtful with our new leader. The $15 minimum wage is going to make it impossible for the young to get part time jobs and will put more of the unskilled on unemployment. When you add in payroll taxes, workers comp, etc at the rate they exist in NJ, an unskilled laborer is just not worth the cost. This state is going to be in bad shape in 4 years.
A $15 minimum wage will simply result in employers only hiring skilled workers. Trainees need not apply. Skilled workers will get more overtime and more incentives to work past age 65 when most are thinking of retiring. Kids with no skills will get frozen out by a $15 minimum wage, since employers will not waste 6 months to a year of training on a subset of employees who, as a group, tend to be the most unreliable, the least motivated and unskilled too boot.