Last year was the first year since 1997 that the private sector added more than 3 million jobs, said James Hughes, a Rutgers University economist. “If we maintain that pace, you get the wage increases that come when labor markets tighten,” Hughes said.
Report Release: R/ECON Forecast Summer 2025
Read Report R/ECON’s economic forecast for New Jersey as of mid-2025 continues to show a slowing trajectory. Annual GDP growth is projected at just 0.5% for 2025, significantly lower than in prior forecasts and markedly below the national rate of 1.5%. Growth will...