Dean Emeritus James W. Hughes says NJ economy is a tightrope of sorts

September 12, 2022

New Jersey 101.5 wants to know “Summer is fading fast: Will NJ consumers keep spending?” Inflation and interest rates continue to rise and there is concern that NJ will head into a recession if the spending doesn’t keep pace.

But Hughes suggests, “The labor market shows no real signs of collapsing anytime soon, and that’s what would cause a really bad drop in consumer spending.”

Hughes notes that retail may take a hit because spending on goods is shifting to travel and entertainment, noting “the restaurant business is enormously strong.”

New Jersey 101.5 9/9/22

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