By 1943, over half of the jobs in New Jersey were manufacturing, said James Hughes, an economist at Rutgers University in New Brunswick.
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James W. Hughes
The Housing Market Was Built for a Baby Boom. What Happens in a Baby Bust?
“Housing, I think, in terms of facing contraction, is still pretty far off,” says Hughes. But while demand might hold, it will likely be for a different kind of housing entirely.
JPMorgan Chase plans fourth round of NJ layoffs in 2025
James Hughes, an economist at Rutgers University, previously 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.
Why are New Jersey housing costs continuing to rise — and who should pay for affordable housing?
Hughes said if federal immigrant deportations continue, home construction costs could soon rise even higher in the Garden State.
“The builders are heavily dependent on immigrant labor, particularly roofing, so they’re facing significant labor shortages,” he said.
He said tariffs could also cause housing price increases, depending on how they ultimately wind up.
“We import a lot of lumber, we import a lot of drywall, a lot of washing machines, appliances and the like,” Hughes said.
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.
NJ saw double the layoffs in first quarter vs last year, even before tariff fears
“We may see the same thing in 2025” because of the impact of Trump’s tariffs, he said. “It almost seems like we’re in another panic.”
Banking giant Barclays cutting 78 jobs in Whippany after earlier layoffs
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.
Population is Growing, but College Enrollment is Stalling
“We’re facing the cliff, because those born in ’08 … they’re just entering their high school graduation years,” said James Hughes, Dean Emeritus
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.