This story was co-published with Marketplace. When the economy nosedived in 2008, it didn’t take long to find the crucial trigger. Wall Street banks had peddled billions of dollars in toxic securities after packing them with subprime mortgages that were sure to default. Behind the bankers’ actions, however, stood a less-visible part of the finance industry… Read the rest of this entry »
TRENTON — The income gap between New Jersey’s wealthiest residents and all other groups has widened significantly since the turn of the century, and grew worse after the recent Great Recession lifted, according to a new report. Only the top 20 percent of households in the state has seen their average income increase since the recession… Read the rest of this entry »
State Treasurer Andrew Sidamon-Eristoff testifies before Assembly Budget Committee on Governor Christie’s announcement yesterday to grab $2.43 billion meant for the pension system to balance the state budget. Trenton, NJ 5/21/14 (Tony Kurdzuk/The Star-Ledger)
TRENTON — New Jersey’s revenue, which last month was on track to meet Gov. Chris Christie’s forecasts, has fallen behind the 5.2 percent growth rate built into this year’s budget, according to a new report released today. After November tax collections fell behind the governor’s expectations in a number of areas, the growth rate through the… Read the rest of this entry »
David Drake of LDJ Capital spoke at the Nov. 12 NJEN meeting.
| John Critelli If you want to guarantee a successful equity crowdfunding campaign, “you need to find 20 bloggers with a minimum [of] half a million readers in the business you’re in. Then you need to figure out how to convince them to release… Read the rest of this entry »
The Republicans have taken control of the U.S. legislative agenda for the next two years if not longer, and that has political and market implications up until 2016 and likely beyond. Let’s see how they handle this role, given the divisiveness within the party itself and the fact that it did not really run on a…
(Reuters) – Banks should defer bonus payments for 10 years and tap the bonus pool to pay any regulatory fines, a top Federal Reserve official said on Monday, taking aim at continued lapses across the industry even after the 2007-9 financial crisis. New York Federal Reserve Bank President William Dudley said banks should move toward paying… Read the rest of this entry »The next New Jersey Founder and Funders Event in on December 9
1.2 million New Jersey households, including 890,000 households with employed adults (28% of the states population) are not making ends meet, according to a report released by the United Way of Northern New Jersey.
The working poor are dubbed as Asset Limited, Income Constrained and Employed (ALICE) by the UWNNJ. These are families of four earning less than $62,000 and single adults earning less than $28,000…the income levels needed to provide housing, food, child care, health care and transportation in New Jersey according to the report.
The report says that 53% of all jobs in New Jersey pay less than $20 per hour or $40,000 per year.
71% of ALICE households are white. 31% are in the prime wage earning years of 45-64.
85% of New Jersey’s 560 towns have 20% of their population struggling to survive.
The study is based on data through 2012 and does not fully measure the impact that Superstorm Sandy had on New Jersey’s economy.
Posted: September 15th, 2014 | Author: Art Gallagher | Filed under: Economy, Monmouth County, New Jersey | Tags: ALICE report, Monmouth County, New Jersey, New Jersey Economy, United Way of Northern New Jersey, working poor | Comments Off on Report: 38% of New Jersey Households Are Not Meeting Basic Needs© Copyright 2024 | MoreMonmouthMusings | All Rights Reserved