Tag: Personal income

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New Jersey Q1 GDP and Personal Income Continue to Trail the Nation

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  • Q1 real GDP growth at a 1.0% annual rate, half the US average of 2.0%
  • Personal income grew 5.8% fueled by a spurt in transfer payments, not growth of earnings.

 

the staff of the Ridgewood blog

Morristown NJ, On June 30th, the U.S. Bureau of Economic Analysis issued its report on the Gross Domestic Product by State and Personal Income by State, 1st Quarter 2023, covering the months of January through March 2023. Dr. Charles Steindel, the former Chief Economist of the State of New Jersey, analyzed the report for the Garden State Initiative:

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Garden State Initiative Analysis: Personal Income Report – NJ Continues to Lag U.S. in Earnings

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Nation experiences personal income decline as pandemic relief programs end

NJ personal income declines -16.6% versus U.S. average of -21.8%

In critical net earnings category, NJ’s 7.4% growth well below 10.7% U.S. average

NJ’s income decline in line with most neighboring states

the staff of the Ridgewood blog

Morristown NJ,  on September 23rd, the United States Bureau of Economic Analysis issued its report on the Personal Income by State for the 2nd Quarter of 2021, covering April through June. Dr. Charles Steindel, former Chief Economist of the New Jersey Treasury, analyzed the report for GSI: 

Continue reading Garden State Initiative Analysis: Personal Income Report – NJ Continues to Lag U.S. in Earnings

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NJ Personal Income Up, Trails Neighboring States

New_Jersey_State_Senator_Stephen_Sweeney

 

New Jersey residents enjoyed nearly 3 percent growth in their personal income over the past year, another good sign for a state economy that’s seen its share of mixed signals in 2016. Still, that rate trailed the national pace, mirroring a long-term trend that’s been playing out since the end of the Great Recession. John Reitmeyer, NJSpotlight Read more