GSI Analysis: Oct. '18 Jobs Report: State Still Struggling to Recoup Job Losses Despite Recent Growth

GSI Analysis: Oct. '18 Jobs Report: State Still Struggling to Recoup Job Losses Despite Recent Growth

Garden State Initiative will provide monthly analysis and commentary on the monthly “jobs report” issued by the New Jersey Department of Labor & Workforce Development based on data produced by the U.S. Bureau of Labor Statistics:

October’s monthly jobs report showed positive gains for the Garden State economy across the board and marked the fourth consecutive month of job and workforce growth for the state. Over the longer term however, New Jersey’s labor force is still near its lowest levels in years with some industry sectors suffering compared to neighboring and competing states.”

Welcome to North Carolina: We're not New Jersey!

Welcome to North Carolina: We're not New Jersey!

We were struck by a recent op-ed  by Doug Gardner, a former New Jersey resident, in the Daily Advance newspaper of Elizabeth City in the Tarheel State. Mr. Gardner wrote in support of a ballot referendum facing North Carolina voters that will cap the state’s income tax at 7% and enshrine it in the state’s constitution. North Carolina has a maximum income tax rate of 5.49%  but it’s state constitution currently permits it to go as high as 10%.

GSI Analysis: Sept. ’18 Jobs Report – NJ Employment Picture Improves Slightly, Growth Still Lagging

GSI Analysis: Sept. ’18 Jobs Report – NJ Employment Picture Improves Slightly, Growth Still Lagging

Garden State Initiative will provide monthly analysis and commentary on the monthly “jobs report” issued by the New Jersey Department of Labor & Workforce Development based on data produced by the U.S. Bureau of Labor Statistics:

“Garden State Initiative (GSI) analysis of  September’s monthly jobs report for New Jersey showed continued, smaller gains for a state economy that is still struggling to regain last year’s workforce losses.”

GSI Analysis: State Revenue Surges on Higher Corporate Tax Rates But There's Uncertainty Ahead

GSI Analysis: State Revenue Surges on Higher Corporate Tax Rates But There's Uncertainty Ahead

On a quarterly basis, Garden State Initiative offers independent analysis on the monthly revenue report offered by the New Jersey Department of the Treasury. Key findings included:

  • Nation’s soon to be highest business taxes drive revenue growth, while NJ’s competitiveness falls

  • Gasoline tax revenue continues to fall with 4% decline

  • Retroactive tax increases breed uncertainty as payers catch-up with higher rates

GSI's Egea: Phil Murphy Economic Plan is the Start of a Conversation

GSI's Egea: Phil Murphy Economic Plan is the Start of a Conversation

In an op-ed published on NorthJersey.com and in the print edition of The Record, GSI’s President Regina Egea took a look at the recent economic speech and plan proposed by Governor Phil Murphy. While the plan was lacking in details, it was yet another sign of “bipartisan agreement that New Jersey’s economy is in turmoil and that taxpayers – both homeowners and corporations -- are growing tired of the burden they face here.”

AAA Report: Who's benefiting from New Jersey's declining gasoline sales?

AAA Report: Who's benefiting from New Jersey's declining gasoline sales?

Last week we told you of the 23% decline year over year in gas tax revenues during the month of August and that this marked the 10th time in 11 reporting periods the revenue generated by the gas tax fell below the same month a year earlier. This has also resulted in some New Jersey gas stations reporting sales declines of 25% that are clearly impacting their businesses.

So, who is benefiting while New Jersey motorists and small businesses are hurting? According to a report issued by the American Automobile Association - Mid Atlantic (AAA) we should look to our neighbors in Delaware and Pennsylvania.

GSI Opinion: Gas Tax Math: Higher Gas Taxes = Less Gas Sales

GSI Opinion: Gas Tax Math: Higher Gas Taxes = Less Gas Sales

With another gas tax increase looming on October 1st, Garden State Initiative takes a look at the issues behind New Jersey’s gas tax and how the potential for more increases is impacting small businesses in our state.

Last week’s state treasurer’s report, which flew under the radar to many, detailed that revenue brought in by the gas tax in August was down 23% compared to the same month in 2017. According to the reports available on the treasurer’s website, this marked the 10th time in 11 reporting periods that the revenue generated by the gas tax fell below the same month a year earlier.