New Jersey saw personal income rise in 2020, but expert says numbers are ‘superficially good’ by Todd DeFeo, The Center Square | April 05, 2021 03:00 PM Print this article
Personal income in New Jersey saw a higher increase than the national average, but one expert says the numbers are merely “superficially good.”
According to numbers from the U.S. Bureau of Economic Analysis (BEA), New Jerseyans saw their personal income increase by 6.8% in 2020. According to BEA numbers, Pennsylvania saw a 7% increase in 2020, while Delaware saw a 5.6% increase, and New York saw a 4.7% increase.
However, in the fourth quarter, the state saw a 13.7% decline. Delaware saw a 0.7% increase, while Pennsylvania saw a 16.1% decrease, and New York had a 13.7% decrease.
GSI Analysis: January ‘21 Jobs Report – New Jersey Labor Market off to Soft 2021 Start March 15, 2021, 12:40 pm | in
GSI Analysis: January ‘21 Jobs Report –
New Jersey Labor Market off to Soft 2021 Start
Job count remains 360,000 below February ‘20 peak
Workforce and employment grow modestly
MORRISTOWN, NJ –
On March 15th, New Jersey’s Department of Labor and Workforce Development issued the monthly jobs report for January 2021. Dr. Charles Steindel, former Chief Economist of the State of New Jersey and current Resident Scholar, Anisfield School of Business at Ramapo College, analyzed the report for the Garden State Initiative:
Everybody expects 2021 to be a much better year than 2020. Unfortunately, New Jersey’s labor market numbers were rather downbeat in January.
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