the staff of the Ridgewood blog
Trenton NJ, Gov. Phil Murphy painted a dire outlook for New Jersey public worker jobs on Saturday afternoon, pleading for more financial aid to lift a state economy that has been cratered by the coronavirus. Gov. Phil Murphy said, “We will have layoffs that will be historic”
As previously reported on the Ridgewood blog warned in early April .” according Jersey City Mayor Steven M. Fulop announcing the first steps to confront the $70 million budget impact COVID-19 will have on the municipal budget of Jersey City.” Then we asked,” where is the tax money going to come from if nobody is working? ” https://theridgewoodblog.net/where-is-the-tax-money-going-to-come-from-if-nobody-is-working/
On Friday we reported that ,”New Jersey’s tax revenues are “falling off the cliff,” Gov. Phil Murphy said at a Wednesday press briefing on the coronavirus pandemic.But it’s not yet clear exactly how far they’ve plunged.The state Department of Treasury released a new monthly revenue update Wednesday that, while a report on March revenues, actually is a reflection of February activity.”
“And worse yet in another ominous sign for the New Jersey Pension Funds, Trenton, revenue for the state lottery for the nine months ended March 31 was $707.8 million, down 12.1% from the $805.3 million year-ago period, according to the state Department of the Treasury” https://theridgewoodblog.net/time-for-new-jersey-to-start-laying-off-school-teachers-and-other-nonessential-state-and-municipal-employees/
Apparently the governor is starting to catch on.