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BUSINESS LEADERS MEH ABOUT NJ’S PROSPECTS BUT OPTIMISTIC FOR NATIONAL ECONOMY

Sweeney & Prieto

JOHN REITMEYER | JUNE 28, 2017

Executives are perturbed about New Jersey’s high taxes and the state government’s approach to business

New Jersey’s top business leaders are optimistic about the direction that the national economy is heading in this year, but as the state gets ready to elect a new governor, they are more cautious about New Jersey’s own immediate economic future.

The results of a new survey released yesterday by Rutgers University’s Real Estate and Policy Research Consortium revealed that enthusiasm among the state’s top business leaders has returned to the levels measured before the onset of the Great Recession in 2007, with 60 percent expecting some improvement in the national economy over the next 12 months.

At the same time, the survey found the executives still have concerns about New Jersey’s high taxes and state government’s handling of business policies, with nearly 50 percent saying they expect the state’s economic conditions to only remain about the same over the next year.

The results of the survey, outlined yesterday during a conference held at Rutgers University’s Bloustein School of Planning and Public Policy in New Brunswick, emerge as New Jersey remains locked in a pattern of slow growth in the wake of the recession, which officially ended in 2009. New Jersey only recently added back all of the private-sector jobs that were lost to the recession as the annual rate of growth here has trailed that of the national economy, while the federal job losses were all recovered in 2014.

https://www.njspotlight.com/stories/17/06/27/business-leaders-optimistic-for-national-economy-but-meh-about-new-jersey-s-prospects/

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An average N.J. resident needs to make this much to afford a 2-bedroom apartment

CBD high density housing

Updated on June 9, 2017 at 4:54 PMPosted on June 9, 2017 at 10:07 AM

BY JEFF GOLDMAN

[email protected],

NJ Advance Media for NJ.com

As expensive as it is to live in New Jersey, the cost to rent an apartment here isn’t close to being the priciest in the nation.

Renters in the Garden State — where the fair-market rate for a two-bedroom apartment is $1,420 per month — pay the seventh most in the country, according to a new report from the National Low Income Housing Coalition.

Hawaii, Washington D.C. and California are the most expensive. Those three are followed by Maryland, New York and Massachusetts.

So while renting in New Jersey is cheaper than a handful of spots, it still requires more money than most make.

In a state where the minimum wage is $8.44 an hour and the average person makes $17.86 per hour, a New Jersey worker needs to be paid $27.31 an hour to reasonably afford a two-bedroom apartment. The report defines “afford” as spending no more than 30 percent of your gross income on rent.

That translates to an annual salary of $56,810 per year. To live in a one-bedroom apartment, you need to make $46,619 per year on average.

https://www.nj.com/news/index.ssf/2017/06/a_typical_nj_resident_needs_to_make_this_much_to_a.html#incart_river_home

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Move over, millennials: NJ businesses looking at undefined ‘Generation Z’

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file photo RHS

By Dino Flammia June 8, 2017 2:23 AM

Centennials. iGen. The Founders.

Any name you choose, the generation following millennials remains a mystery to those who will end up being their bosses.

But the oldest segment of Generation Z — somewhere in the age range of 17 to 21 years old — is hitting the workforce in the fashion of full-time employment and internships. Businesses and trend followers hope to get a better feel for what they’re all about.

“We don’t fully know their generational essence,” said James Hughes, an economist and demographer at Rutgers University. “We don’t have a good handle on them yet because we don’t have much experience dealing with them.”

Hughes said the post-millennial generation has been examined in several marketing studies, but they have not been the subject of true academic research.

“You can say they’re a connected generation. More than any other generation, their smartphone is their tie to everything else. They’re certainly technologically savvy, even more so than millennials,” Hughes said.

Read More: Move over, millennials: NJ businesses looking at undefined ‘Generation Z’ | https://nj1015.com/move-over-millennials-nj-businesses-looking-at-undefined-generation-z/?trackback=tsmclip

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Private companies wanted for $20B Gateway Project

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By Vince Calio, June 5, 2017 at 12:51 PM
Amtrak and NJ Transit would use a new Gateway tunnel under the Hudson River. – (AARON HOUSTON)

Private firms will be sought to help finance and construct the $20 billion rail tunnel connecting northern New Jersey and New York City.

During its June 1 board meeting, the Gateway Program Development Board approved a move to solicit private construction and finance companies to complete the project under a public-private partnership model. In a typical P3 procurement model, private financial institutions would raise part of the money for a public project through a combination of debt and direct equity infusions, and then hire outside construction firms to complete it.

If implemented, the procurement model could pump several billion dollars into both New York and New Jersey’s economy, said the board’s chairman, Richard Bagger, during the meeting.

https://www.njbiz.com/article/20170605/NJBIZ01/170609929/private-companies-wanted-for-20b-gateway-project

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NEW JERSEY’S COMING COLLEGE ENROLLMENT CRISIS

RHS_ Graduation_theridgewoodblog

DARRYL G. GREER | JUNE 2, 2017

A significant decline in the number of NJ high school graduates who will be seeking college degrees should be a major concern for the next governor and other leaders

Daryl G. Greer

New Jersey will experience about a 20 percent decline in the number of high school graduates through 2030, according to a recent report, “Knocking at the College Door,” by the Western Interstate Commission on Higher Education (WICHE.) That will mean a drop to 90,000 from a current high of about 111,000 graduates annually, and more of these students will be from lower- income families and less-prepared academically for college.

That has important economic consequences for colleges, students, businesses, and the state — which need to be considered, now.

Historically, 70 percent to 80 percent of New Jersey high school graduates enroll in college. Obviously, fewer students paying tuition places stress on colleges’ financial operations. This is especially true, because about 70 percent of public colleges’ revenue comes from student tuition and fees. Add to this increasing competition for New Jersey students from surrounding states, such as Pennsylvania, Ohio, and Massachusetts, which also face declining enrollments. Pile on another dilemma in a no-growth environment: New Jersey already leads the nation as the number one net exporter of college-bound students. We lose about 30,000 students annually to other states. Regional competition for well-prepared New Jersey students who are able to pay for college will be at an all-time high. Not every university in the state can compete effectively for students in this environment.

https://www.njspotlight.com/stories/17/06/01/op-ed-new-jersey-s-coming-college-enrollment-crisis/

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President Donald Trump announced the U.S. would withdraw from the Paris climate pact

Trump

June 1,2017

the staff of the Ridgewood blog

Ridgewood NJ, President Donald Trump announced the U.S. would withdraw from the Paris climate pact. In a decision that spurns pleas from corporate executives who stood to gain , world leaders who would access US tax payer funds and even Pope Francis who warned the move imperils a global fight against climate change proving “Climate Change ” is religion not science .

 

“The Obama-negotiated accord imposes unrealistic targets on the U.S. for reducing our carbon emissions, while giving countries like China a free pass for years to come,” the White House said.

President Trump once again defended US Taxpayers who would fund the so called “Paris Accord” , pointing out the the many instances where the accord sought to redistribute and strip America’s wealth and industry to the rest of the world and imperil
the US economy.
The President also went to great lengths pointing out how the “Paris Accord”  would reduce America’s sovereignty giving outsiders control of US domestic agenda .
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IN NJ, AS IN NEARBY STATES, COMPETITIVENESS DRIVES AFFORDABILITY

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file photo by Boyd Loving

MICHELE SIEKERKA | MAY 30, 2017

The only way to stem our tide of outmigration is to bring our economic policies in line with our direct regional competitors — Pennsylvania and New York

NJBIA president and CEO Michele Siekerka

New Jersey has many positive attributes. We added almost 60,000 jobs in 2016, the state’s largest gain since 2000, according to the New Jersey Department of Labor and Workforce Development. We have among the best K-12 public education systems in the nation and a highly skilled workforce including the highest concentration of scientists and engineers in the world — more than 225,000 statewide.

New Jersey also has a strong transportation network. We are home to the Port of New York and New Jersey, the third largest seaport in North America and the largest and busiest maritime cargo center on the East Coast. And we are among the national leaders in logistics and distribution. New Jersey is also a great recreation state with more than 130 miles of shoreline, beautiful parks, and mountains.

Despite these great assets, New Jersey remains a significant outlier, both nationally and regionally when comparing competitiveness and affordability including our state’s high cost of living and its heavy tax burden. New Jersey’s border states, Pennsylvania and New York, continue to be the No. 1 and No. 2 outmigration states for New Jersey residents and are challenging our competitiveness.

To reverse this trend we must examine our policies on taxation, revenue generation, and spending, and we must do so through the filter of competitiveness and affordability.

https://www.njspotlight.com/stories/17/05/25/op-ed-in-nj-as-in-neighboring-states-competitiveness-drives-affordability/

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President Trump’s Taxpayer First Budget

Trump thumbs up
May 23,2017

the staff of the Ridgewood blog

Ridgewood NJ, President Trump’s first proposed budget shows respect for the people who pay the bills. The administration’s “Calvin Coolidge style” proposal reverses the damaging trends from previous administrations by putting our nation’s budget back into balance and reducing our debt through fiscally conservative principles, all the while delivering on President Trump’s campaign promise not to cut Social Security retirement or Medicare. The budget’s combination of regulatory, tax, and welfare reforms will provide opportunities for economic growth and creation.

Trump Budget Facts:

President Trump’s budget is designed to put the taxpayer first, create jobs, and build economic growth.

President Trump’s budget finally balances the Federal budget and turns the deficit into a $16 billion surplus by 2027.

President Trump’s budget makes national defense a top priority by increasing defense spending by $54 billion.

President Trump’s budget increases funding for the Department of Veterans Affairs by $4.3 billion.

President Trump’s budget puts Americans’ safety first by providing $2.6 billion in increased funding for border security.

President Trump’s budget balances the budget and makes no cuts to either Medicare or Social Security retirement.

President Trump’s budget provides national paid family leave for the first time in the history of this country.

President Trump’s budget helps American families by implementing the first national paid family leave initiative.

President Trump’s budget saves the American people billions of dollars through welfare and regulatory reform.

President Trump’s budget sees a decline in debt as a percentage of GDP every year in the budget window.

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Ridgewood Department of Parks and Recreation Seasonal Employment Opportunities

Graydon_Pool_theridgewoodblog

file photo by ArtChick
SEASONAL EMPLOYMENT OPPORTUNITIES
May 21,2017

the staff of the Ridgewood blog

Ridgewood NJ, Applications are being sought for the many summer positions available with the Parks and Recreation Department including Day Camp Administrators, Day Camp Counselors, Graydon Pool Lifeguards, Security Attendants, and Badge Sale Attendants. Concession Attendant applications will be shared with the Water’s Edge vendor. NOTE: Day Camp staff attendance is mandatory for the full six week program, June 26 to August 4, 2017.
Applications will be considered for experience, interests, and accomplishments.

Mail completed applications to The Stable, 259 N. Maple Avenue, Ridgewood, NJ 07450.
2017 Seasonal Employment Application
2017 Waterfront Lifeguard Employment Application for Graydon Pool

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MAKING MANUFACTURING A MATTER OF PUBLIC POLICY FOR NEW JERSEY

Paterson Falls

JOHN REITMEYER | MAY 8, 2017

A new ‘manufacturing caucus’ looks to explore what companies need in terms of employees, education, training, and business opportunities — and help make sure they get it

Although not as dominant an industry as it was several decades ago, manufacturing is still a major part of the New Jersey economy, and a sector where a majority of employers have indicated they’re still looking to hire.

To help foster what could be a manufacturing renaissance in New Jersey — a state with a rich industrial history that dates to colonial days — state lawmakers are launching a new “manufacturing caucus” that will focus specifically on figuring out ways to craft policies that lead to increased productivity and growth for manufacturing.

The formation of the new caucus, which will involve lawmakers from both the Assembly and Senate, and from both political parties, was announced last week by Senate President Stephen Sweeney (D-Gloucester). The panel will hold a series of hearings this summer to help inform a legislative agenda that will be pursued in the fall as lawmakers return to the State House following this year’s legislative elections. The effort will be led by state Sen. Robert Gordon, whose own background includes working in his family’s yarn mill in Paterson.

“I think (manufacturing) is critically important to the state,” said Gordon (D-Bergen) in an interview with NJ Spotlight. “Manufacturing is still a very important component of our economy.”

 

https://www.njspotlight.com/stories/17/05/07/making-manufacturing-a-matter-of-policy-for-new-jersey/

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Good news for college grads in NJ … who have THESE degrees

grads

By David Matthau May 8, 2017 2:38 AM

The sun is shining the birds are chirping and the class of 2017 is about to graduate, which means going out and looking for a job.

According to Kim Barberich, executive director of the Rider University Career Development & Success Department, this year’s job outlook for new graduates is looking better than last year.

“The landscape looks like there’s going to be, for 2017, about a 6 percent increase in hiring, I think that’s really exciting,” she said.

Dora Onyschak, the New Jersey metro market manager and vice president at Robert Half, a staffing and employment agency, said 74 percent of employers are hiring new grads this year.

The top degrees that employers are looking for are business, engineering and communication technologies.

Barberich adds that “healthcare is also a really strong domain right now, especially because New Jersey has so many pharmaceutical companies.”

Read More: Good news for college grads in NJ … who have THESE degrees | https://nj1015.com/good-news-for-college-grads-in-nj-who-have-these-degrees/?trackback=tsmclip

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Springsteen hasn’t done a day’s work since his teens

Bruce Springsteen

By Hardeep Phull

April 29, 2017 | 12:20am

Even though he has spent much of his career writing songs about the working man, Bruce Springsteen will be the first to tell you he hasn’t done much in the way of hard work himself.

As part of the 2017 Tribeca Film Festival, the Boss sat down with actor Tom Hanks for a conversation about his life and music. “The only honest work I’ve ever done in my entire life was at 14 or 15 when I was a lawn boy,” he told the crowd at the Beacon Theatre. “I painted houses and tarred roofs in the summertime – that was to get the money to buy my first guitar.”

But the fans still love him all the same, and over the course of the hour, Hanks attempted to get to the bottom of that long-held affection. Here are some the highlights from their discussion.

https://nypost.com/2017/04/29/springsteen-hasnt-done-a-days-work-since-his-teens/

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EXPLAINER: GAUGING THE FUTURE OF SOLAR ENERGY IN NEW JERSEY

solar_power_theridgewoodblog

TOM JOHNSON | APRIL 24, 2017

Does the fall-off in solar installations and loss of jobs indicate a slowdown in the sector?

What’s going on: Mostly business as usual: The unanswered question is whether that portends well for New Jersey’s solar sector, which has been prone to boom-and-bust cycles. The state’s solar industry is continuing to install new systems at a fairly good pace, although last month the number of deployments fell off dramatically from the rate of a year ago. In March, 889 residential systems were put in, roughly half the number installed 12 months earlier, according to the Office of Clean Energy. The number of nonresidential systems put also fell. That is only one month’s tally, but there are other signs the sector may be slowing. An industry survey of the sector nationwide released early this year found New Jersey lost 1,000 solar jobs in 2016 — at the same time the industry was growing at 25 percent nationwide.

https://www.njspotlight.com/stories/17/04/23/explainer-gauging-the-future-of-solar-energy-in-new-jersey/

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Most Millennials Are Finding It Hard to Transition Into Adulthood: Report

millenials

by SAFIA SAMEE ALI

Millenials watch a video calling on the millennial generation to help end the problem of extreme poverty around the globe at the IMF/World Bank Group’s Spring summit on April 10, 2014. Miguel Juarez Lugo / Zuma Press file

By his twenties, Kyle Kaylor imagined he would be living on his own, nearing a college degree, and on his way to a job that fulfilled him.

Instead, at 21, he found himself out of school, living with his parents, and “stuck” working as a manager at a fast food restaurant scraping to make hand-to-mouth.

Launching into adulthood has been tricky, he said.

“It became too difficult financially to be in school and not working,” says Kaylor, who dropped out of Lincoln Christian University, in Illinois, after one semester because of a money crunch. “And without schooling, you can’t get a job that you can survive on, so I had to move back home,” he said.

https://www.nbcnews.com/news/us-news/most-millennials-are-finding-it-hard-transition-adulthood-report-n748676

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The number of reluctant part-time workers is still higher than before the Great Recession

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Published: Apr 9, 2017 12:57 p.m. ET

Millions of Americans don’t want to work part-time.

The U.S. economy added just 98,000 jobs in March, the smallest gain in nearly a year, after adding more than 200,000 jobs in January and February. Economists predicted that the number of jobs created in March would hit 180,000, so the actual figures fell far short of that. Unemployment fell to a 10-year-low of 4.5% in March from 4.7% in February, but the “real” unemployment rate that includes part-time workers who would rather work full-time and job hunters who gave up searching for work was 8.9%, although this was also down from 9.2% in February.

Part-time work is still a contentious alternative for many workers. On Thursday, Amazon said it will create 30,000 part-time jobs in the U.S. over the next year, nearly double the current number. Of those, 25,000 will be in warehouses and 5,000 will be home-based customer service positions. Amazon AMZN, -0.38%  said in January it would create 100,000 full-time jobs over the next 18 months, according to a separate announcement made in January. Last year, Amazon’s world-wide workforce grew by 48% to 341,400 employees. In the U.S., it has over 70 “fulfillment centers” and 90,000 full-time employees. (Amazon did not respond to request for comment.)

There were some 5.6 million involuntary part-time workers in March 2017, little changed from the month before, but down from 6.4 million a year earlier, according to the Bureau of Labor Statistics. That number is up from 4.5 million in November 2007, but way off a peak of 8.6 million in September 2012. These figures are almost entirely due to the inability of workers to find full-time jobs, leaving many workers to take or keep lower-paying jobs, according to the Economic Policy Institute, a nonprofit think-tank in Washington, D.C. And 54% of the growth in these involuntary part-time jobs between 2007 and 2015 were in retail, leisure and hospitality industries, the EPI said.

https://www.marketwatch.com/story/amazon-will-create-30000-part-time-jobs-but-american-workers-are-desperate-to-work-full-time-2017-04-06