By Will Irving A little over a year ago, we reviewed the latest data from the Census Bureau’s American Community Survey showing that in 2022 New Jersey had the highest median income in the country, coupled with housing costs also among the nation’s highest. Here we revisit these indicators and review the 2023 data [...]
Last week, in commemoration of Black History Month, Gov. Phil Murphy and Lt. Gov. Tahesha Way announced the release of the state’s Wealth Disparity Task Force report, “New Jersey – Building a State of Opportunity: A Report of the Wealth Disparity Task Force to Close Opportunity Gaps and Repair Structural Disparities.” The task force and [...]
By Pengju Zhang and Michael S. Hayes As one of the most significant federal grants to local governments in American history, the American Rescue Plan Act’s Coronavirus State and Local Fiscal Recovery Funds (ARPA-SLFRF) were designed to provide robust support to local governments in addressing the public health and economic challenges arising from the [...]
By Will Irving R/ECON’s economic forecast for New Jersey as 2024 drew to a close once again shows a slowing trajectory, with annual gross domestic product (GDP) growth in 2025 projected to slow more sharply than in the prior forecast.
By Pengju Zhang, Ph.D. and Michael S. Hayes, Ph.D. The American Rescue Plan Act’s Coronavirus State and Local Fiscal Recovery Funds (ARPA-SLFRF) represent one of the most significant federal investments in state and local governments in history. Enacted in March 2021 as part of the broader $1.9 trillion American Rescue Plan, the ARPA-SLFRF allocated [...]
By Pengju Zhang, Ph.D. and Michael S. Hayes, Ph.D. The American Rescue Plan Act's Coronavirus State and Local Fiscal Recovery Funds (ARPA-SLFRF) provides $350 billion to state and local governments, representing one of the largest federal aid programs to local governments in American history. Compared with previous intergovernmental aid from the federal government in history, [...]
By Will Irving. In late July, the outlook for the U.S. economy appeared strong, with some observers suggesting that the Fed had indeed nailed the long-awaited soft-landing even in light of recent cooling [...]
By Will Irving The United States Bureau of Economic Analysis (BEA) recently began publishing state-level data on the distribution of personal income across households. Similar income distribution and income inequality data has previously been available from other sources such as the IRS and U.S. Census Bureau. However, the BEA’s new approach draws on a [...]
By Parul Jain and Olusola Omotoso Broadly stated, financial literacy refers to the knowledge and skills necessary for making sound financial choices within a business context, which is deemed critical [...]
By Will Irving Read Report R/ECON’s economic forecast for New Jersey as of June 2024 continues to show a slowing trajectory, though the decline in annual GDP growth is not as pronounced as in the prior forecast. The anticipated slowdown has also been deferred from 2024 to 2025, consistent with expectations for the [...]
