The Ridgewood Blog Brings a Free Market Laissez-faire Point of View to Local, New Jersey State and National Issues.
the staff of the Ridgewood blog
Ridgewood NJ, it’s becoming increasingly difficult for Americans to secure a job, as the latest data from the Bureau of Labor Statistics’ Job Openings and Labor Turnover Survey (JOLTS) shows a concerning decline in job openings.
Continue reading Job Market Woes: July Sees Job Openings Fall to Lowest Since 2021
the staff of the Ridgewood blog
Washington DC, total nonfarm payroll employment increased by 209,000 in June, and the unemployment rate changed little at 3.6 percent, the U.S. Bureau of Labor Statistics reported today. Employment continued to trend up in government, health care, social assistance, and construction. Household Survey Data Both the unemployment rate, at 3.6 percent, and the number of unemployed persons, at 6.0 million, changed little in June.
the staff of the Ridgewood blog
Washington DC, total nonfarm payroll employment rose by 528,000 in July, and the unemployment rate edged down to 3.5 percent, the U.S. Bureau of Labor Statistics reported today. Job growth was widespread, led by gains in leisure and hospitality, professional and business services, and health care. Both total nonfarm employment and the unemployment rate have returned to their February 2020 pre-pandemic levels.
the staff of the Ridgewood blog
Trenton NJ, Governor Phil Murphy (D) delivered his budget address for New Jersey’s upcoming fiscal year today, outlining the administration’s fiscal and policy priorities.
the staff of the Ridgewood blog
Ridgewood NJ, just as Village Council candidate Melenie Hooban loses her job under mysterious circumstances ,Paul Vangios supporters launch an attack on her for being an “unemployed single mom “.
Continue reading Ridgewood Village Council Candidate Melenie Hooban Attacked Over Being a Single Mom
the staff of the Ridgewood blog
Ridgewood NJ,U.S. hiring dropped abruptly in August with the smallest jobs gain in seven months, complicating any decision by the Fed to begin scaling back monetary support by the end of the year. The US Bureau of Labor Statistics reported on Friday ,Total nonfarm payroll employment rose by 235,000 in August, and the unemployment rate declined by 0.2 percentage point to 5.2 percent, the U.S. Bureau of Labor Statistics reported today.
Continue reading U.S. Hiring Dropped Abruptly in August with the Smallest Jobs Gain in Seven Months
the staff of the Ridgewood blog
Ridgewood NJ, last weeks stunningly disappointing April jobs report points to the idiocy of the Biden/Pelosi policies . The fact is if you tax something, you get less of it. If you subsidize something you get more of it.
Mr. Speaker,
This bill represents the culmination of a disappointing chapter in the NJ State Legislature’s history.
While public union workers are about to get a two percent raise in just 26 days, nearly 1.2 million of our constituents, the people who we represent, have lost their jobs. Everything considered in this Assembly has no respect for the taxpayers or their future.
the staff of the Ridgewood blog
Trenton NJ, The NJ Department of the Treasury reported today that April revenue collections for the major taxes totaled $2.345 billion, down an unprecedented $3.5 billion, or 59.7 percent, below last April as the economic impact of the global pandemic begins to take its toll on the State’s finances. Fiscal year-to-date total collections, which had been running ahead of last year through the end of March, are now at $24.743 billion, down $2.2 billion, or 8.1 percent below the same period last year.
Continue reading State of New Jersey April Tax Revenues Plummet Nearly 60 Percent
the staff of the Ridgewood blog
Trenton NJ, The New Jersey Department of Labor has distributed $1.9 billion in income-supplementing benefits since the COVID-19 pandemic began in mid-March, and this week saw new unemployment claims for the period surpass 1 million, an all-time high.
In the seven weeks since COVID-19 hit New Jersey in mid-March, 1,018,785 unemployment claims have been filed, by far the most ever recorded for a similar period.
Continue reading NJ Unemployment Payouts Approach a Staggering $2 Billion
Edward Luce
Western democracy faces no mortal threat but it is going through an acute stress test
When people strike comparisons with Hitler — or Munich — I usually reach for my earplugs. The same applies to the Great Depression. There is nothing on today’s horizon that compares with the Nazis or the mass privation that followed the 1929 stock market crash.
Yet there are echoes we would be foolish to ignore. Western democracy faces no mortal threat. But it is going through an acute stress test. On both sides of the Atlantic, people have lost faith in their public institutions. They are also losing trust in their neighbours. Co-operation is fraying and open borders are in question. We can no longer be sure the centre will hold — or even that it deserves to.
The most insidious trend is vanishing optimism about the future. Contrary to what is widely believed, the majority’s pessimism pre-dates the 2008 financial collapse. At the height of the last property bubble in 2005, Alan Greenspan, then chairman of the Federal Reserve, said society could not long tolerate a situation where most people were suffering from declining standards of living.
“This is not the sort of thing that a democratic society — a capitalist democratic society — can readily accept without addressing,” he said. This came after several years of falling median income.
For most Americans and Europeans the situation is worse today than it was then. Many have since had their homes repossessed. Median incomes were lower in 2015 than when Mr Greenspan issued his warning. A majority on both sides of the Atlantic believe their children will be worse off than they are.
https://www.ft.com/cms/s/0/be952500-e7a8-11e5-a09b-1f8b0d268c39.html#axzz42pwgE9Xi
