According to The PEW Charitable Trusts, New Jersey’s personal income growth over the past year totaled 1.1%, while the average U.S. worker experienced an increase of 2.0%. In addition, an analysis beginning in Q4 2007 found that New Jersey’s personal income has continuously grown at a slower pace than the national average. Since Q4 2007, […]
An updated report from the PEW Charitable Trusts finds that New Jersey’s tax revenues in Q4 2018 were 4% lower than peak pre-recession totals. New Jersey is one of just 10 states that have yet to recover tax revenues to pre-recessions totals.
According to the U.S. Bureau of Economic Analysis, New Jersey experienced one of the slowest GDP growth rates in the nation from Q4 2018 to Q1 2019. West Virginia and Texas experienced the largest percentage change in GDP.
Preliminary June statistics from the Bureau of Labor Statistics (BLS) finds that New Jersey’s unemployment rate has decreased to 3.5%.
A study by the Congressional Budget Office (CBO) has found that approximately 1.3 million workers could become jobless if the federal minimum wage is increased to $15 per hour by 2025. The CBO also studied the effects of a potential $12 and $10 per hour minimum wage and concluded that smaller increases result in fewer […]