New Jersey Gov. Christie vetoes minimum wage hike

New Jersey Gov. Chris Christie yesterday vetoed a bill to raise the state's minimum wage.

The legislation would have made the state the third to adopt a $15 per hour minimum wage.

In 2013, voters approved a wage hike to $8.25 from $7.25. It's now $8.38, in line with increases to the consumer price index.

"Despite having a constitutional mandate in place, the legislature now wants to increase the minimum wage by almost 80 percent just three years later," Christie said in a statement about his veto.

Read more from Reuters.