New Jersey’s Real GDP lagged the nation in Q2 after a strong first quarter; same pattern held for personal income State GDP contracts 1%, ranking 24th nationwide, versus 0.6% U.S. decline State personal income grew 5.6%, ranking 27th nationwide, versus…

4.1% growth rate trails U.S. average of 4.8%, ranks 36th in the nation New Jersey trails all neighboring states and in the Northeast region 2nd consecutive quarter of poor personal income growth On June 22nd, the United States Bureau of…

NJ personal income declines by 0.6% while U.S. grows +2.4% in Q4 New Jersey decline ranked 40th in the nation to end 2021 Weakness reflected sharp drop in government transfer payments; earnings of workers and businesses rose briskly Full year…

Growth ranked 8th in the nation Surge in wages and business income led the advance On December 17th, the United States Bureau of Economic Analysis issued its report on the Personal Income by State for the 3rd Quarter of 2021,…

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…

NJ income growth significantly trails neighboring states & US growth rate Net earnings in NJ rank weakest in the Northeast and trail US average New Jersey’s economic recovery not in line with neighboring states On June 22nd, the United States…

In 2020 overall wages and self-employment income in NJ decline as U.S. posts slight gain Overall gain in income in 2020 a result of federal aid payments Q4 data shows NJ ranked 44th for income growth as impact of federal…

State records “spectacular” 63% increase in annual income rate driven by CARES Act stimulus as earnings of those working and business owners fell by 31.5% during lockdown On September 24th, the United States Bureau of Economic Analysis issued its report…

 YTD collections lag state’s growth rate projection Gross Income Tax declines YTD by 3.9% Unprecedented $3 billion in income tax revenue expected in April Corporate Business Tax Collections Double YTD on new 11.5% rate The Department of the Treasury reported…