“The same thing is happening with rent control,” Paul said. “When we see states considering it, developers are saying ‘we’re going to leave’ but that really hasn’t played out.”
Topic
economics
Report Release: R/ECON Forecast Winter 2026
Like the broader U.S., New Jersey is likely to finish the year with notably stronger GDP growth than forecast earlier, though growth is projected to decline to 0.8% in 2026, before rebounding modestly to 1% the following year.
TECH UPDATES: Technology Policies for Your Community
The key is to stay informed and use technology to better serve your residents. Regular assessment of technology needs and impacts will help you develop policies that truly benefit your community.
Report Release: R/ECON Forecast Summer 2025
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.
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.
Parsippany office building, part of a ‘dying breed,’ sells for $10.2 million
James Hughes, an economist at Rutgers University, told NorthJersey.com that white-collar jobs in banking and finance have become saturated after a two-year hiring spree that followed the COVID-19 pandemic.
JPMorgan to lay off 121 employees in Jersey City office
James Hughes, an economist at Rutgers University, told NorthJersey.com that white-collar jobs in banking and finance have become saturated after a two-year hiring spree that followed the COVID-19 pandemic.
Murphy set some key economic goals for NJ in 2018. How has he done?
The state and private investors are pouring $4 billion into the New Jersey Health + Life Science Exchange, or HELIX, in New Brunswick. “That really will be a statewide hub, not a local hub,” Hughes said. “Hopefully it will evolve into a national hub. It’s bringing together a lot of the players.”
Question: Where are all the New Jersey college students? Answer: ‘The enrollment cliff’
“We’re facing the cliff, because those born in ’08… they’re just entering their high school graduating years,” said James Hughes, Dean Emeritus of Rutgers University’s Edward J. Bloustein School of Planning and Public Policy.
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.