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 [...]
New Jersey Employment Concerns Revisited
By Will Irving. As 2024 began with yet another surprisingly strong jobs report for the U.S. (353,000 jobs added in January and the unemployment rate steady at 3.7%), and with a full year’s worth of 2023 state-level employment data now available [...]
New Jersey Population Growth Recovers
By Will Irving. The U.S. Census Bureau's annual state population estimates released this month show New Jersey resuming population growth after experiencing a decline of nearly 30,000 residents since the 2020 Decennial Census [...]
Is There Cause for Concern in New Jersey’s Latest Unemployment Numbers?
By Will Irving While New Jersey’s payroll employment has continued to grow this year after the rapid job gains of the post-pandemic recovery, a slower pace of growth in recent months and a sharp rise [...]