The Ridgewood Blog Brings a Free Market Laissez-faire Point of View to Local, New Jersey State and National Issues.
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Ridgewood NJ, in a turn that has economists and voters taking notice, the Bureau of Labor Statistics reported on Friday that the U.S. added only 12,000 nonfarm payroll jobs in October, marking the slowest monthly growth since December 2020. This comes as a sharp contrast to September’s 223,000 jobs added, indicating an unexpected slowdown in hiring.
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Ridgewood NJ, despite signs of a slowing economy, several major companies with a strong presence in New Jersey are ramping up hiring and increasing wages ahead of the holiday shopping season. In recent weeks, four prominent businesses have announced wage hikes or hiring sprees, signaling optimism even as the national unemployment rate rises and inflation remains a concern.
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Ridgewood NJ, in August, U.S. employers added 142,000 nonfarm jobs, falling short of the 161,000 jobs economists had predicted, according to new data released by the U.S. Bureau of Labor Statistics. Revisions to June and July’s job numbers showed a more significant slowdown than initially reported. June’s figure was revised down to 118,000 from 179,000, and July’s to 89,000 from 114,000.
Continue reading Summer Slowdown: US Job Growth Slows in August
8:30 a.m. (ET) Friday, July 5, 2024
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Ridgewood NJ, total nonfarm payroll employment increased by 206,000 in June, and the unemployment rate changed little at 4.1 percent, the U.S. Bureau of Labor Statistics reported today.
Continue reading Government Jobs Lead Job Growth while Unemployment Ticks Up Slightly
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Trenton NJ, New Jersey’s unemployment rate has remained nearly unchanged for almost a year, now ranking as the sixth highest in the nation, according to recent data. As the national labor market shows signs of slowing down, high interest rates and corporate downsizing have left their mark on the state’s economy. The Federal Reserve is holding rates steady and may cut rates just once in 2024.
Continue reading New Jersey’s Unemployment Rate Stagnates Amid Economic Shifts
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Ridgewood NJ, on Friday, concerns about a potential bubble on Wall Street seemed to dissipate amid a robust US jobs report, which bolstered investors’ confidence in America’s ongoing economic strength. Despite any lingering concerns about delayed rate cuts, the blowout report overshadowed them. In March, US payrolls surged by 303,000, surpassing all expectations. Additionally, the unemployment rate dipped to 3.8%, wages exhibited solid growth, and workforce participation saw an uptick, reaffirming the resilience of the labor market, which continues to drive the economy forward. As a result, all major groups in the S&P 500 experienced gains.
Trenton NJ, with the U.S. having gained 216,000 jobs in December, WalletHub today released updated rankings for its report on Changes in Unemployment Rate by State, along with a WalletHub Q&A.
Continue reading New Jersey Is the State with the 2nd Worst Unemployment Rate Change
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Ridgewood NJ, total nonfarm payroll employment increased by 216,000 in December, and the unemployment rate was unchanged at 3.7 percent, the U.S. Bureau of Labor Statistics reported today. Employment continued to trend up in government, health care, social assistance, and construction, while transportation and warehousing lost jobs.
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Trenton NJ, New Jersey recorded the most significant rise in the nation’s unemployment rate, as reported by the U.S. Bureau of Labor Statistics on Friday.
Continue reading New Jersey Sees Highest increase in Unemployment Rate in the U.S.
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Washington DC, (8:30 am)total nonfarm payroll employment rose by 236,000 in March, and the unemployment rate changed little at 3.5 percent, the U.S. Bureau of Labor Statistics reported today. Employment continued to trend up in leisure and hospitality, government, professional and business services, and health care. This news release presents statistics from two monthly surveys.
Continue reading Payroll Employment Rises by 236,000 in March; Unemployment Rate Unchanged at 3.5%
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Ridgewood NJ, While Amazon, Salesforce and other giants across technology and finance have combined to fire tens of thousands of workers, small and medium-size US businesses have been on a hiring spree. So much so that, according to new data, overall hiring far exceeded expectations in December while applications for jobless benefits fell to a three-month low.
Continue reading Layoffs make Headlines but Companies have Been on a Hiring Spree
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Trenton NJ, The New Jersey Department of Labor and Workforce Development (NJDOL) today announced changes in the maximum benefit rates and taxable wage base that take effect January 1, 2023, for Unemployment Insurance, Temporary Disability Insurance, Family Leave Insurance, and Workers’ Compensation. Continue reading New Jersey Increase Unemployment Insurance Benefits
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Morristown NJ, on October 20th, New Jersey’s Department of Labor and Workforce Development issued the monthly jobs report for September 2022. Dr. Charles Steindel, former Chief Economist of the State of New Jersey, analyzed the report for the Garden State Initiative: Continue reading New Jersey Job Numbers Soft Despite Plunge in Unemployment Rate
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Washington DC, total nonfarm payroll employment rose by 372,000 in June, and the unemployment rate remained at 3.6 percent, the U.S. Bureau of Labor Statistics reported today. Notable job gains occurred in professional and business services, leisure and hospitality, and health care.
Continue reading Payrolls Increased a More than Expected 372,000 in June
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Trenton NJ, after repeated calls for NJ Labor Commissioner Robert Asaro-Angelo to resign .The New Jersey Department of Labor and Workforce Development (NJDOL) has begun scheduling in-person appointments for workers who have had trouble with their unemployment claims, and on March 28 will begin seeing claimants with previously scheduled appointments at select One-Stop Career Center locations. No walk-ins will be served.
