Minimum wage in New Jersey increases to $12 an hour

Beginning Jan 1., the state’s minimum wage went up a dollar to $12 an hour. The scheduled annual increase is part of a deal signed by Gov. Phil Murphy to get to $15 an hour by 2024.

It comes as more than 1.5 million residents are out of work, and many others need the extra cash. It also arrives as business owners dust off a brutal year with more uncertainty ahead. Correspondent Leah Mishkin reports.