The -28% net outlook for the state’s economy is the lowest since 2009.
Major funding for Reporters Roundtable with David Cruz provided by; RWJBarnabas Health, New Jersey Manufacturers Insurance Group, and New Jersey Realtors. Grassmann Trust, the F.M. Prior to joining NJ Spotlight, Reitmeyer wrote for The Record of Bergen County, The Burlington County Times and The Press of Atlantic City. Also troubling: the possibility that continued economic growth could be derailed by political dysfunction in Trenton or a national recession. Why is everyone so concerned now? He primarily focuses on issues related to the state budget, taxes and public finance. Your questions answered, Watch: U.S. Sen. Bob Menendez says investigate COVID response, LIVE UPDATES: Tracking the coronavirus in New Jersey, NJ’s top elections official: ‘Vote, sign, seal, and return the ballot’, Push to add voters ahead of mail-in election, NJ Decides 2020: Hot House races, a sleepy Senate contest and a question on legal weed, Rutgers helped shape Ruth Bader Ginsburg. Meanwhile, general state tax collections through the end of November, the last month for which there is complete data for fiscal 2019 from the Department of Treasury, were barely keeping pace with year-end growth targets. Click to expand/closeBut when it comes to unemployment, the latest official figures from the New Jersey Department of Labor and Workforce Development offer reason for optimism: The state’s jobless rate dropped to 4 percent in November 2018. Murphy has already laid out some of his major spending goals for the next fiscal year, including another big boost in the state’s public-employee pension contribution. “New Jersey is ripe for investors, and this latest analysis is yet another indicator that we are one of the best places in the nation for businesses to put down roots,” Murphy said in response to the LOCUS report. A decision on one big issue that will impact the future of the New Jersey economy — establishing a statewide $15 minimum wage — was already pushed off into 2019 … Major funding provided for Chat Box with David Cruz provided by; New Jersey Manufacturers Insurance Group, New Jersey Education Association, and Fuel Merchants Association of New Jersey. A decision on one big issue that will impact the future of the New Jersey economy — establishing a statewide $15 minimum wage — was already pushed off into 2019 by Murphy, a first-term Democrat, and legislative leaders from his own party. For their part, many Republicans contend the higher wage could force businesses to shed workers or bring on broader price inflation.
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