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.”
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
“Hey, at least we’re not last” is all the solace New Jersey residents can take from the 2018 State Fiscal Rankings for fiscal health from the non-partisan Mercatus Center at George Mason University. This result marked a small improvement from the state’s 2017 ranking, when it ranked at the bottom, 50th out of 50.
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.”
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.
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.”
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
“Hey, at least we’re not last” is all the solace New Jersey residents can take from the 2018 State Fiscal Rankings for fiscal health from the non-partisan Mercatus Center at George Mason University. This result marked a small improvement from the state’s 2017 ranking, when it ranked at the bottom, 50th out of 50.
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.”
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.
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.
Last night Garden State Initiative’s president, Regina M. Egea, had the opportunity to address students and members of the community at The Rebovich Institute for New Jersey Politics at Rider University on her career in business and government along with the work that Garden State Initiative is doing to improve the dialog on economic policy issues facing our state.
As part of an ongoing program, 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 New Jersey’s August jobs report showed generally positive signs over the month with gains in the state’s labor force and private sector job growth. New Jersey is still lagging behind many states over the long-run in terms of economic growth, wage rates and population levels, but August’s report showed some bright spots in the short term.”
In an opinion piece published in the Daily Record, Courier News and Home News Tribune, GSI’s President Regina M. Egea responded to an editorial published in those respective news outlets entitled “No, we’re not losing all the good people” that was based on a report issued by New Jersey Policy Perspective and researched by Rutgers students, that sought to downplay the flight of millennials and others from New Jersey.
