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 prior forecasts and markedly below the national rate of 1.5%. The Garden State’s real estate market shows tentative signs of stabilization, though persistently elevated mortgage rates and high home prices continue to limit the strength of the rebound. Nationally, tariff increases are expected to put upward pressure on prices, with inflation projected to reach 3.7% in the second quarter of 2026.
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Tariff Uncertainty and its Impact on Economic Forecasting
R/ECON’s next economic forecast is slated for release in mid-summer, followed by another forecast in the fall. As we track the latest state data and national outlook, we have been closely following the news on tariffs, the Fed’s potential actions, and associated fluctuations in the financial markets.
Navigating New Jersey’s Economic Outlook
In our first episode of EJB Talks for 2025, Stuart Shapiro and Will Irving discuss Will’s current role with the Rutgers Economic Advisory Service (R/ECON) as well as the latest economic forecast for New Jersey, which predicts a sharper economic slowdown compared to the national trend.
Report Release: R/ECON Forecast Winter 2025
R/ECON’s economic forecast for New Jersey as 2024 drew to a close once again shows a slowing trajectory, with annual gross domestic product (GDP) growth in 2025 projected to slow more sharply than in the prior forecast.
New Income Distribution Data from the U.S. BEA
Based on the BEA data for 2022, New Jersey’s median personal income ranked 4th in the nation at $137,252, about 23% higher than the national median.
Report Release: R/ECON Forecast Summer 2024
R/ECON’s economic forecast for New Jersey as of June 2024 continues to show a slowing trajectory, though the decline in annual GDP growth is not as pronounced as in the prior forecast.
R/ECON Forecast for November 2023 shows slow or stagnant growth for near future
R/ECON’s economic forecast for New Jersey as of November 2023 shows slow or stagnant growth over the next five to six quarters, with GDP recovering to a steady but tepid rate of increase in 2025. This largely mirrors the U.S. trajectory, though at lower growth levels than the national outlook.
New Jersey wineries battle rising cost of packaging, shipping wine
Wineries are being hit hard by the high cost of supplies, and they are also facing supply shortages. While there isn't a wine shortage, the cost to package and ship bottles of wine has gone up, according to some employees at wineries in New Jersey. *********** A local...
New Jersey State Policy Lab: Guilt Tipping and the Inflated Default Tip
Why do we feel guilty about tipping pressures at establishments where only a tipping jar previously existed? And why are tips inflating as a percentage of the bill?
New Jersey State Policy Lab: New Jersey’s Single-Family Housing Markets by County 2021
Home real estate markets intensified in 2021 due to what appears to have been a buyer frenzy that drove single-family home prices steeply upward across the State of New Jersey. More single-family homes closed despite fewer listings in New Jersey.