by James Barnett New Jersey is consistent in featuring at the top of the ranks for two different variables: effective real estate property tax rates and quality of K-12 education services.[1][2] These, unsurprisingly to most who reside here, are not unrelated in the slightest. Each of New Jersey’s whopping 599 school districts is funded to [...]
By Michael L. Lahr, Rutgers Economic Advisory Service (R/Econ™) Black Friday and Cyber Monday have passed, but all reports are not yet in. Adobe Analytics reports that online sales on Black Friday hit a new nationwide record, striking a level 2.3% higher than a year prior, while Sensormatic Solutions reports in-person shopping rose by 2.9%. [...]
By Michael L. Lahr. As detailed in our previous blog, there are several factors at play in the U.S. economy which may influence the likelihood of a recession. We discussed the Federal Reserve’s decision
By Michael L. Lahr, Rutgers Economic Advisory Service (R/ECON™). It’s a tough time to be Jerome Powell. The Federal Reserve Board’s two primary responsibilities are to assure price stability and growth within the U.S. economy, and Jerome Powell is its Chair. As we are painfully aware, prices have been less than stable [...]
by Michael Lahr, Tia Azzi, and Maia de la Calle, Rutgers Economic Advisory Service It is vital for New Jersey policymakers to understand what affects municipal tax rates. In this brief, we analyze local government spending and attempt to equalize effective municipal tax rates across New Jersey’s counties. To do this, we identify the variables [...]
by Michael S. Hayes, Associate Professor, Rutgers University-Camden and Prakash Kandel, Ph.D. Student, Rutgers University-Camden During the 2020 general election, New Jersey voters approved a ballot question to amend the state constitution to allow residents 21 years or older to possess and consume cannabis products. By the summer of 2021, the New Jersey Cannabis Regulatory [...]
by Maia de la Calle, Rutgers Economic Advisory Service (R/ECON™) To gain a clear understanding of racial and ethnic disparities related to poverty, it is most important to focus on the poverty rate rather than the poverty count. According to the results presented in Figure 1.1, a much greater share of Black (17.3 percent) and [...]
by Maia de la Calle. Rutgers Economic Advisory Service (R/ECON™) Housing affordability and ownership accessibility The main expense incurred by New Jersey’s residents is shelter or housing. As of 2019, New Jersey ranked third in the country for median monthly housing costs, after California and Hawaii.[1] In that same year, the median gross rent for [...]
by Michael S. Hayes, Ph.D., Rutgers University-Camden During the Election of 2020, New Jersey citizens voted to legalize the consumption, production, and distribution of cannabis products. While New Jersey municipalities cannot prevent citizens from possessing or consuming cannabis products, they do have the power to regulate and ban cannabis-related businesses in their own jurisdictions. By [...]
Maia de la Calle, Rutgers Economic Advisory Service (R/ECON™) The impact of the pandemic on poverty and inequality continues to be studied at a global and national scale.[1],[2] Although the U.S. Census data have yet to reflect the full extent of the pandemic on poverty, numbers are expected to rise [3] due to an economic [...]
