The rate is set to increase by $1.13 in 2023.
But the law allows for a larger bump if there’s a significant increase in the Consumer Price Index, the most widely used measure of inflation in the U.S. An increase in the CPI this year triggered the extra 13 cents per hour, officials said.
This is the first time the provision has kicked in since Murphy signed the law. The minimum wage increased from $8.60 to $10 the first year after the law was signed and has increased by $1 in each of the last three years.
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