Irving said he’ll be tracking jobs numbers closely in coming months. New Jersey’s unemployment rate is 5.2% — that’s higher than the national rate — and Irving noted the state has in recent years been a bellwether for what is coming to the rest of America.
Topic
economy
NJ Job Losses Reach 16K For 2025; What Does 2026 Hold?
“We may start seeing signs of a recession, but that doesn’t mean we’re in a recession,” he told NJ101.5. “The economy is constantly flowing, changing. I don’t see us at the moment being in recession. But there clearly is potential for that.”
Could layoffs in NJ preview a recession for 2026?
“Things have been tepid for quite a while,” he said, “but this notion that we may be coming toward a recession? We’re looking at sort of middle of next year — at least a recession as you might want to define it at the state level, where we start to see significant job declines.” said Will Irving.
New Jersey is Now in a Recession and it May Get Worse, Moody’s Analyst Says
“We may start seeing signs of a recession, but that doesn’t mean we’re in a recession. The economy is constantly flowing, changing. I don’t see us at the moment being in recession. But there clearly is potential for that,” Pfeiffer said.
How would Ciattarelli, Sherrill handle NJ’s big economic hurdles as governor?
Some of those issues — like Trump’s tariffs and the rise of AI displacing portions of the labor market — “certainly pose challenges that would be hard to combat via state policy alone,” said Will Irving, a professor at the New Jersey State Policy Lab at Rutgers University.
NJ job market ‘stalled’ by layoffs, weak hiring
The job market so far this year in New Jersey has been “a mixed bag — overall, relatively weak,” said Will Irving with the Rutgers University New Jersey State Policy Lab. “We are through July down about 7,800 jobs, net, and that reflects losses in both a number of private-sector industries and public sector, state government in particular.”
Here’s what NJ’s latest economic data indicates
Rutgers professor Will Irving was less sanguine about the office market and the state’s economy. With respect to a hard or soft landing, he said, “it’s still a landing, and the landing that we’re seeing in New Jersey is a little ahead and a little harder than we’re seeing elsewhere.”
The Continuing Ups & Downs of the Trade Tariff War
“We saw the negative effects during the COVID pandemic when supply chains melted. We were overly dependent on China and other nations for critical components. So, having independence on certain sectors of the economy, with internal supply chains, would be desirable. However, the critical question is: “Will tariffs actually do that?” Hughes said.
The benefit of retaining home-health aides
“The Heldrich Center for Workforce Development is excited to partner with the New Jersey Department of Human Services on this program to expand the state’s pipeline of certified home-health aides and provide training for those who are already working in this critically important field,” said Carl Van Horn, director of the center and a professor at Rutgers University.
Linda McMahon invested in dozens of bonds funding public school projects across the US
Municipal bonds are also considered a safe investment — it’s unlikely local governments would fail to pay investors back — and they can help balance out the risks in an overall portfolio, Winecoff said.