New Jersey’s unemployment rate fell below 9 percent for the first time in nearly four years last month, the state Labor Department announced today. The rate dropped to 8.7 percent in April, the lowest its been since 2009, according to preliminary data in the latest state jobs report.
Over 400,000 low-paid workers would benefit from a ballot measure that would raise New Jersey’s minimum wage by one dollar to $8.25 per hour and index the minimum wage to rise automatically with the cost of living, according to a new report released today by New Jersey Policy Perspective. The report finds that this wage increase would generate more than $174 million in new economic growth and support the creation of the equivalent of over 1,500 new full-time jobs as businesses expand to meet increased consumer demand.
In April, Gov. Christie challenged the legislature to enact an income tax cut based on property taxes as part of the FY 2014 budget. Since then, one essential set of facts has been missing: details on the cost of the cut, and how the governor plans to pay for it.
Over 400,000 low-paid workers would benefit from a ballot measure that would raise New Jersey’s minimum wage by one dollar to $8.25 per hour and index the minimum wage to rise automatically with the cost of living, according to a new report released today by New Jersey Policy Perspective. The report finds that this wage increase would generate more than $174 million in new economic growth and support the creation of the equivalent of over 1,500 new full-time jobs as businesses expand to meet increased consumer demand.
According to Department of Labor and Workforce Development information recently provided to legislators, New Jersey has seen a net employment change of 109,400 total jobs gained. But an overwhelming majority of those jobs are in sectors with annual average wages below the statewide average of $57,549.