Mass layoffs — 4,621 positions — are in store for New Jersey so far in 2024, according to public filings.
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The layoffs include 2,774 job cuts announced in 2023 for this year, and another 1,847 cuts announced in the first three months of 2024.
Those cuts come at a time when New Jersey’s workforce posted a net loss in jobs for the first time in six months. Meanwhile, the state unemployment rate has hovered at 4.8% since September, state data shows.
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“Certainly, growth has slowed, really in the second half of the year,” said James Hughes, an economist at Rutgers University.