TRENTON – Even though preliminary estimates indicate New Jersey added 2,600 jobs in April, the state’s unemployment rate edged up by 0.1 percentage point to 9.1 percent, signaling that more people are actively looking for jobs.
The dog that didn’t bark this week, let alone bite, was the President’s response to JP Morgan Chase’s bombshell admission of losing more than $2 billion in risky derivative trades that should never have been made.
TRENTON – Two prominent Democrats have advised the state treasurer to be prepared to specify how the Christie administration will deal with a state revenue shortfall. Treasurer Andrew P. Sidamon-Eristoff is scheduled to testify before the Assembly Budget Committee on Wednesday, May 23 and the Senate Budget and Appropriations Committee on Thursday, May 24.
TRENTON – Tax collections are $230.3 million below February’s revised forecasts for the first ten months of the fiscal year, according to the State Treasury.
STATE – The average retail gasoline price in New Jersey has fallen 4.3 cents per gallon in the past week, averaging $3.62 per gallon yesterday. This compares with the national average that has fallen 3.3 cents per gallon in the last week to $3.73 per gallon, according to gasoline price website NewJerseyGasPrices.com.
Getting people to understand that money is not real wealth is a difficult problem.
J.P. Morgan Chase & Co., the nation’s largest bank, whose chief executive, Jamie Dimon, has lead Wall Street’s war against regulation, announced Thursday it had lost $2 billion in trades over the past six weeks and could face an additional $1 billion of losses, due to excessively risky bets.
CRANFORD—A representative of SCORE will present a free seminar entitled “Starting and Managing a Successful Business” at the Cranford Community Center, 220 Walnut Avenue, Cranford, on Tuesday, May 15, at 7 p.m. The program is sponsored by the Cranford Public Library and all are welcome.