Report Release: R/ECON Forecast Winter 2025
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.
Will the Nation’s Employment Growth Trajectory Follow New Jersey’s?
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 [...]
Examining New Income Distribution Data from the U.S. Bureau of Economic Analysis
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 [...]
Report Release: R/ECON Forecast Summer 2024
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 [...]
Examining Industry Employment Growth in New Jersey
By Will Irving. Unpredictability has been one of the defining features of New Jersey’s labor market for much of the last two years. As the state’s unemployment rate climbed [...]
How New Jersey’s 2025 Tax Revenue Projections Might Affect the Budget Surplus
By Will Irving. Is the Budget Surplus Safe? Governor Murphy’s recently released FY 2025 budget proposal calls for total appropriations of $55.9 billion, up $1.5 billion (2.7%) from the original FY 2024 appropriation [...]