Economic sentiment plays a pivotal role in how Americans make their electoral choices and is one of many factors that could influence how voters cast their ballots in the 2022 midterm elections. On July 15, the U.S. Department of State's Foreign Press Center hosted a...
Topic
economy
Is the economic outlook for New Jersey as bad as we think?
What’s in store for the New Jersey economy for the rest of this year? It turns out nobody is quite sure because right now there’s a hodgepodge of different economic signals. Rutgers University economist James Hughes said as is often the case, “we have really...
Economists question lawmakers’ plans to address inflation
As consumers nationwide grapple with increases in the cost of rent, gas, and groceries, New Jersey lawmakers have offered a slew of plans they say will address skyrocketing inflation. Sales tax holidays on certain items, moratoriums on toll increases, and a revamp of...
Consumers in ‘very sour mood’ as inflation outpaces wages
The prices of gas, home energy and food all spiked by double digits over the past month, but wages aren't keeping up, with annual inflation now topping 9%. "It’s leading to a very sour mood,” said James W. Hughes, dean emeritus at Rutgers University’s Edward J....
NJ gas prices are trending down but experts are worried
Rutgers economist James Hughes said even if President Joe Biden is able to convince Congress to freeze the 18.4 cent a gallon federal gas tax for the next few months and Gov. Phil Murphy agrees to suspend the state gas tax (an idea he has rejected so far) “that would...
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...
NJ economic outlook – Will prices keep spiking?
As we head into the second half of 2022, what is the economic outlook for New Jersey? The state’s top economist said a number of variables are pulling us in many directions. Rutgers University economist James Hughes said inflation is embedded for the time being, with...
Political wrap-up: The 3 -tions: Inflation, Abortion, and the Election
Wrapping up with three hot topics in national politics, the important races of the 2022 midterm elections, and what inflation and abortion could mean for the election.
Gas prices rise to record highs again
Gas peaked at $1.39 a gallon back then, which would be $4.52 today. Action News spoke to Michael Lahr, an economics professor at Rutgers University. "What may happen, not real soon though, is that companies will use these raises in prices to invest in capital to get...
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?