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New Jersey Danger Sign The State’s Shrinking Workforce

the staff of the Ridgewood blog

Ridgewood NJ,  according to the Garden State Initiative (GSI) analysis of September’s monthly jobs report for New Jersey showed continued, smaller gains for a state economy that is still struggling to regain last year’s workforce losses .

The bad news is that while New Jersey’s workforce grew in September, it is still smaller by 30,100 individuals compared to September last year. The state’s current workforce is also smaller than the state’s average workforce size in 2008.

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US Economy Ranked #1 on Global Competitiveness Index

the staff of the Ridgewood blog

Ridgewood NJ, The U.S. economy has regained its status as the world’s most competitive , for the first time since 2008, according to the World Economic Forum’s Global Competitiveness Report. The U.S. scored 85.6 out of a possible 100. The World Economic Forum says the U.S. is the country closest to the “frontier of competitiveness,” an indicator that ranks competitive productivity using a scale from zero to 100.

“America’s vibrant entrepreneurial culture and its dominance in producing a competitive labor market and nimble financial system” partly explain its top ranking, the Global Competitiveness Report says.

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Democrat Norcross Praises Revised Trump NAFTA/US-Mexico-Canada Agreement

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the staff of the Ridgewood blog

CHERRY HILL, NJ – U.S. Congressman Donald Norcross (NJ-01) Democrat released the below statement after the Trump Administration posted text for an updated North American Free Trade Agreement (NAFTA) / United States-Mexico-Canada Agreement:

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The Middle-class is Back !

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the staff of the Ridgewood blog

Ridgewood NJ, for the first time since 1999 the median U.S. household earned $61,372 last year, meaning half of the families in the country brought in more income than this and half earned less. Crossing the $61,000 mark signals the American middle-class may have finally earned more than it did in 1999, although the Census Bureau cautions that median income last year was not statistically different from 1999 or 2007.

Middle-class income rose to the highest recorded levels in 2017 and the national poverty rate declined as the benefits of the strong economy lifted the fortunes of more Americans, the U.S. Census reported Wednesday.

Middle-class household income has been rising steadily in recent years as the economy rebounded from the deep recession . After a period of economic stagnation millions of Americans have found jobs again.

Overall, just over half of American adults were in the middle class in 2016. That’s up slightly from 2011, but down from 61% in 1971. The Census Bureau also reported that the U.S. poverty rate declined modestly to 12.3 percent, the lowest level in years and a sign the economic devastation from the Great Recession is subsiding.

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Trump Labor Department Boosts Apprenticeship Push with New Website

the staff of the Ridgewood blog

Washington DC, “Trump’s administration has aggressively promoted apprenticeships as an alternative to higher education, arguing there is a strong demand for skilled workers not currently being met and that they provide good-paying careers without having to incur the debt typically entailed by higher education,” Sean Higgins reports for Washington Examiner.

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New Jersey;s Not So Rosey Jobs Report

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the staff of the Ridgewood blog

Ridgewood NJ, according to the Garden State initiative , “In their announcement for this month’s jobs report, the New Jersey Department of Labor and Workforce Development touted how the July unemployment rate of 4.2 percent marks the lowest unemployment rate for the state since July 2007. The unemployment rate is determined by dividing the total labor force by the number of unemployed persons in that labor force. However, despite the over-the-month gains, the state’s shrinking labor force as compared to a year ago—or three years ago—shows the danger of relying solely on a state’s unemployment rate as an accurate metric for economic growth. ”

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What to Do for High Score in Microsoft 70-761 Certification Exam?

the staff of the Ridgewood blog

Ridgewood NJ, With the use of the internet spreading all over the world, companies such as Microsoft have become some of the best in the world. Microsoft creates software and hardware that are used in most of the companies and industries. This is why there is a need for the Microsoft technicians. The need for the IT professionals who can handle Microsoft network processes is increasing day by day. With the increasing job opportunities, there is also an increase in the candidates for a job. For a person to secure a job in any company, it is very important to have a grasp on their skill and have certification to prove it.

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Networking Tips for Job Seekers in 2018

the staff of the Ridgewood blog

Ridgewood NJ, You’ve heard a million times that networking is the best way to find a great job, but what exactly does networking entail? Whether you’re a new grad just beginning to build your professional network or an experienced hire seeking chief financial officer jobs, try these tips to bolster the career connections you make this year.
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Governor Phil Murphy offers a STEM Loan Forgiveness Program

May 30,2018

the staff of the Ridgewood blog

Trenton NJ,  To re-ignite the promise of New Jersey’s innovation economy, Governor Phil Murphy today announced two initiatives – the STEM Loan Forgiveness Program and the NJ Career Accelerator Internship Program – to encourage individuals in STEM fields to make a long-term commitment to building and maintaining a career in New Jersey. The initiatives were part of the Governor’s Fiscal Year 2019 budget message.

“The catalyst to reclaiming New Jersey’s innovation economy is our ability to attract and retain the scientific talent New Jersey businesses require to succeed in a 21st century economy,” said Governor Phil Murphy. “By implementing these two STEM initiatives, we’re making a critical investment in human capital – one that will fuel the growth of innovation at businesses across the Garden State and recapture New Jersey’s reputation as a pre-eminent leader in science and technology.”

The STEM Loan Forgiveness Program will encourage those in high-growth STEM occupations to work in New Jersey by reducing their student loan obligations.
After certification that an employee has worked for at least four years in a designated high-growth STEM occupation in New Jersey, the New Jersey Higher Education Student Assistance Authority (HESAA) will redeem eligible student loan expenses for up to four years. The State would provide eligible employees with $1,000 annually to defray outstanding loans and employers would be required to at least match this award – or otherwise partner with the State – to provide a total benefit worth at least $8,000.

Eligibility requirements for the STEM Loan Forgiveness Program include:

Being a resident of the State of New Jersey and maintaining residency during participation in the program;
Having a degree from an approved STEM degree program;
Working full-time in an approved high-growth STEM occupation at a New Jersey employer for a minimum of four years before applying to the program;
After applying for the program, working for an additional one to four years of employment in an approved high-growth STEM occupation at a New Jersey employer;
Receiving annual certification from his or her current employer to attest the employee is working in an approved high-growth STEM occupation,
Having an outstanding balance with a State or Federal student loan program and not being in default on any student loan.

To support current students, Governor Murphy also announced the NJ Career Accelerator Internship Program, a paid internship program to be administered through the New Jersey Department of Labor and Workforce Development. The Department will target first-time interns enrolled in New Jersey high schools, colleges, and universities with offers in STEM industries such as IT/Software, Life Sciences and Healthcare, and Energy. Participating employers will be reimbursed for up to 50 percent of wages paid to new interns for up to $1,500 per student.

Over time, internships have become a necessary credential for employment and are essential to learning an industry’s relevant skills.
“Stevens Institute of Technology enthusiastically supports Governor Murphy’s proposal to reclaim New Jersey’s innovation economy through a multi-faceted suite of initiatives including a STEM loan forgiveness program to attract and retain top talent in fast-growing technology-based occupations in the State,” said Nariman Farvardin, president of Stevens Institute of Technology. “The unprecedented pace of technological advancement in fields as diverse as artificial intelligence and cybersecurity to biomedicine and finance demands a multi-pronged approach to stem the ‘brain drain’ from New Jersey to other states. Governor Murphy is to be commended for taking bold action to build and retain a highly-skilled, technology-savvy workforce upon which our State’s economy depends.”

“I am very excited and encouraged by the Administration’s strong focus and efforts to reignite the innovation economy here in New Jersey, and truly believe initiatives like the STEM Loan Forgiveness proposal and STEM internship grant program will provide for significant movement toward that goal,” said WorkWave CEO Chris Sullens. “As one of the state’s fastest growing technology businesses, WorkWave needs a rich pool of technology-savvy employees to choose from to fuel continued rapid growth. Providing incentives for New Jersey students to choose STEM majors through internship grants and pairing that with a loan forgiveness program that helps them better afford that education and provides an incentive for those students to stay in New Jersey and apply that knowledge in one of the growing technology companies will pay dividends for the state in both the short and the long run while helping revitalize the critically important innovation economy here in New Jersey.”

“Fidelity supports the Governor’s efforts to grow the state’s economy and attract a highly skilled workforce from which we can draw the quality talent needed to continue to drive our commitment to innovation,” said Natalie Brathwaite, Fidelity Regional Director of Public Affairs. “Innovation begins with the employee experience, so we provide benefits and programs designed to help people thrive in and out of Fidelity. As part of our approach to tackling the growing student debt issue, Fidelity is proud to be one of the first employers to offer our own student loan benefit as well as develop solutions and education for our workplace clients to help address their employee’s student loan debt concerns.”
“As a New Jersey-based technology employer, Cognizant appreciates these efforts to spur New Jersey’s innovation economy and to address the STEM skills gap,” said James Lennox, Executive Vice-President & Global Chief People Officer, Cognizant Technology.

“We see great value in the Governor’s efforts to incentivize individuals to pursue STEM professions as it aligns with the EY purpose of building a better working world,” said Jackie P. Taylor, EY’s Government & Public Sector Leader for the State of NJ.“Creative efforts to address skill gaps in the market, foster innovation and increase employee retention are the levers that will ultimately differentiate New Jersey’s workforce. The heightened focus should also increase student interest in STEM related studies and strengthen the pipeline of talent amongst graduates entering the workforce. This will be helpful to EY, and many of our clients, who frequently hire individuals with solid backgrounds in Science, Technology, Engineering and Math to support our organizations.”
The STEM Loan Forgiveness Program will be contingent upon State lawmakers passing legislation to implement the initiative.

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North Jersey Partners Organizer of Harnessing the Power of the Millennial Workforce

May 6,2018

the staff of the Ridgewood blog

Montclair NJ, North Jersey Partners brings you this event with the support of our generous sponsors:

Montclair State University, New Jersey Health Care Talent Network, NJIT Construction-Utilities Talent Network/TDC, Life Sciences Talent Network, NJMEP Advanced Manufacturing Talent Network, NJMEP Transportation, Distribution and Logistics Talent Network and the New Jersey Retail, Hospitality and Tourism Talent Network.

Employers, business owners and human resource professionals are cordially invited to attend our FREE spring event!
Executives from Bayer, Investors Bank, NJ Advance Media, Robert Wood Johnson Barnabas Health, SUEZ and Wawa will share how they have embraced this generation of workers and achieved workplace success. You will also have the opportunity to hear from millennials actively engaged in the workforce who will share their insights into the unique strengths of and challenges facing their generation in today’s labor market.
Millennials will comprise 40% of the workforce population by 2020.
Is your business prepared?

Parking is available at the Red Hawk parking deck on campus. Park on the 5th floor, if possible. The parking fee is $6.00 for a half day and $12.00 for a full day.

Date and Time
Fri, May 11, 2018
8:30 AM – 12:00 PM EDT

Location
Feliciano School of Business
Montclair State University
1 Normal Avenue
Montclair, NJ 07043