What is the New Jersey prevailing wage threshold?

The New Jersey prevailing wage threshold is set at $10,000. This means that public works projects funded by the state or local government must pay workers a wage that meets or exceeds the prevailing wage rate for similar work in the area when the cost of the contract is $10,000 or more. This law is designed to ensure that laborers and mechanics are compensated fairly based on local wage rates, which can help prevent wage undercutting and promote fair labor practices on public projects. Understanding this threshold is crucial for compliance with state labor laws and ensuring that all workers receive proper compensation for their work on these public projects.