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New Jersey Rated 2nd Worse Place to Retire

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the staff of he Ridgewood blog

Ridgewood NJ, according to MoneyWise , New Jersey is the second worse place to retire . MoneyWise  says New Jersey is  No. 2 on our list because the Garden State can take a serious financial toll on retirees. That’s despite its charming suburbs and small cities, its pretty beach towns and its golf links galore for your amusement.

Continue reading New Jersey Rated 2nd Worse Place to Retire

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Both blacks and whites are leaving N.J.’s largest county, data shows

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By Myles Ma | NJ Advance Media for NJ.com
on December 13, 2016 at 10:48 AM, updated December 13, 2016 at 12:59 PM

Bergen County has grown more diverse in the period since the recession, fostering growing Hispanic and Asian populations, but has also shed white and especially black residents.

The black population fell by more than 7 percent in Bergen County when comparing Census data from 2005-2009 and 2010-2015. The white population fell by more than 5 percent.

Anthony Cureton, president of the Bergen County chapter of the NAACP, said many black people he knows have moved to the South, where it’s cheaper.

http://www.nj.com/bergen/index.ssf/2016/12/both_blacks_and_whites_are_leaving_njs_largest_county_data_shows.html?utm_campaign=Observer_NJ_Politics&utm_content=New%20Campaign&utm_source=Sailthru&utm_medium=email&utm_term=New%20Jersey%20Politics#incart_river_home_pop

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$100 in New Jersey is worth only $87.34

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August 5,2016

the staff of the Ridgewood blog

Ridgewood NJ , new map shows $100 is not what it used to be ,this map shows how much $100 is worth in each state.

Prices for the same goods are often much cheaper in states like Missouri or Ohio than they are in states like New York or California. As a result, the same amount of cash can buy you comparatively more in a low-price state than in a high-price state.

The piece also explains what this means for people’s checkbooks and for public policy.

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New Jersey Must Focus on Cutting Spending All of our futures depend on it

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March 30,2016
Assemblywomen Holly Schepisi

Ridgewood NJ, When looking at why the cost of living in New Jersey is so absurdly high, it is imperative to understand actual numbers for spending around the State.

Anyone following the proposed Atlantic City bankruptcy and/or takeover is probably trying to understand how Atlantic City got to this point. Most people are unaware that the population of Atlantic City consists of only 39,500 residents and 6,679 school age children. Yet, the municipal budget is $262,000,000 equaling spending of $26,531.64 per household of 4 people.

Likewise the school budget is $166,000,000 which equals an average spending of $24,887.56 per child. In other words, for a family of 4 with two school age children, the governmental and school spending in Atlantic City equals $76,306.76 per household. We must cut spending and figure out a better way. All of our futures depend on it.

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Record number of N.J. residents living in poverty, study finds

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Record number of N.J. residents living in poverty, study finds

More New Jersey residents are in poverty now than in the past five decades and the outlook for the future is bleak, according to a report released Sunday, which aims to redefine the definition of poor in the state. MaryAnn Spoto, NJ.com Read more

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Gas and food surge sends May prices on a tear

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Reuters

U.S. producer prices in May recorded their biggest increase in more than 2-1/2 years as the cost of gasoline and food rose, suggesting that an oil-driven downward drift in prices was nearing an end.

The Labor Department said on Friday its producer price index for final demand increased 0.5 percent last month, the largest gain since September 2012. That followed a 0.4 percent decline in April.

In the year to May, the PPI fell 1.1 percent, marking the fourth straight 12-month decrease. Prices dropped 1.3 percent in the 12 months through April, the biggest fall since 2010.

Economists had forecast the PPI rising 0.4 percent last month and falling 1.1 percent from a year ago.

A sharp decline in crude oil prices since last year and a strong dollar have weighed on producer prices. While rising oil prices are easing some of the downward pressure on inflation, the upward trend in producer prices will be gradual because of the dollar’s strength.

The greenback has gained about 13.2 percent against the currencies of the United States’ main trading partners since June 2014.

The stabilization in producer prices should support views that the Federal Reserve will raise interest rates this year.

Last month, gasoline prices surged 17 percent, the largest increase since August 2009. Food prices rose 0.8 percent in May, the biggest gain in just over a year, snapping five straight months of declines.

Higher food prices were driven by a shortage of eggs after an outbreak of bird flu led to the culling of millions of chickens. Wholesale egg prices soared a record 56.4 percent last month.

http://www.cnbc.com/id/102754716

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More expected to flee New Jersey as baby boomers age

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More expected to flee New Jersey as baby boomers age

For Raymond Francisco, landing a job at the General Motors auto plant in Linden at 25 years old was like winning the lottery.

The New Brunswick native was a welder by trade, and enjoyed working hard for the good money he made at the plant. But when GM announced in 2002 it would close the factory — about six years after he started — Francisco decided he had to go where the jobs were.

That meant packing up his wife, two small children and moving to Lordstown, Ohio, where GM offered him another job at an assembly plant.

People are leaving New Jersey at a higher rate than 47 other states, just behind New York, which is No. 1, and Illinois, according to James Hughes, a demographer and dean of the Edward J. Bloustein School of Planning and Public Policy at Rutgers University, New Brunswick. (Kachmar/Asbury Park Press)

http://www.app.com/story/news/local/2015/01/12/expected-flee-new-jersey-baby-boomers-age/21663035/