The latest New Jersey labor market snapshot shows fewer workers are filing new jobless claims. Just under 17,000 workers claimed unemployment for the first time in the most recent week, according to the National Labor Department. This is a drop of 23% from the previous week.
Student loan borrowers get a break under one of the executive orders signed by President Joe Biden on his first day in office. He extended the hiatus on federal student loan payments at least until September. It was due to expire at the end of the month. Biden also signed an executive order extending the moratorium on evictions and foreclosures until the end of March.
Revenue collections increased in New Jersey in December, but the state treasury qualified temporary boostbecause it reflected a change in when some companies pay their taxes. Income tax collection is lagging behind last year’s figures, but sales tax collection is on the rise.
Some companies have the opportunity to participate in the growing wind power industry in New Jersey. Ørsted, the company chosen by the state to build a wind farm off the south Jersey coast, has announced a $ 15 million trust that will provide grants to small businesses owned by women and minorities.