file photo by Boyd Loving
the staff of the Ridgewood blog
Ridgewood NJ, Expectations are high for increased profits, sales and wages in 2019 following a successful 2018 for many New Jersey businesses, according to results found in the New Jersey Business & Industry Association’s 60th Annual Business Outlook Survey.But the survey, released today, also finds a much more guarded outlook for New Jersey’s economy on the whole. In addition to a marginal increase of business owners who will look to offset a $15 minimum wage with raised prices, reduced staff or hours, or an increase in automation, there was a sizable decline from last year in respondents expecting New Jersey’s economy to perform better in the first six months of 2019. Similarly, while 83 percent of members rated the performance of the U.S. economy as excellent or good, only 40 percent rated New Jersey’s economy in the same categories.