Income growth in N.J. lagging behind most of country
EDITORS NOTE: Delays in the state senate and assembly have stalled tax-reform for 79 days, ethics reform for 742 days , ending sick leave payouts 650 days and action on property tax cap loopholes 128 days .
New Jerseyans made more money in the second quarter of the year than in the first, but the 0.8 percent jump in personal income was one of the smallest in the country, according to federal estimates released by the Bureau of Economic Analysis today.
Income growth clocked in at 45th of the 50 states, a sign that the nascent economic recovery in the Garden State is losing some steam while other states are gaining ground. In the first quarter, New Jersey’s 1.8 percent income spike was the 18th largest of all the states.
Personal income is a leading economic barometer that tallies wages and any earnings from rental properties, stocks and interest. Another key indicator, the state’s unemployment rate, has been rising this year and hit 9.9 percent in August. (Rizzo, The Star-Ledger)
https://www.nj.com/politics/
