> Jobless claims drop from 7-year high (10/09/2008)
WASHINGTON (AP) -- New applications for unemployment benefits dropped last week from a seven-year high, the Labor Department said Thursday, though they remain at elevated levels that indicate recession. more...

> Corzine has crisis-borne stimulus plan for Jersey (10/09/2008)
With New Jersey already feeling the sting of the national financial crisis, Gov. Jon Corzine next week will unveil a broad plan to stimulate the state's economy -- including incentives for businesses, public works projects and programs to help homeowners who are at risk of foreclosure or cannot afford to heat their homes, officials said yesterday. more...

> Interest rate cut doesn't ease fear (10/09/2008)
WASHINGTON -- Wall Street bounced higher and lower yesterday trying to make up its mind about an unprecedented coordinated interest rate cut by central banks around the world. In the end it settled on a familiar feeling -- fear -- and plunged again. more...

> Fed, central banks slash rates to aid world economy (10/09/2008)
WASHINGTON -- In a rare coordinated move, the Federal Reserve and other major central banks from around the world slashed interest rates Wednesday to prevent a mushrooming financial crisis from becoming a global economic meltdown.


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> Feds Consider Bigger Role in Banks (10/09/2008)
WASHINGTON (Oct. 9) - News that the Bush administration is considering taking ownership stakes in a number of U.S. banks helped restore a relative calm over global financial markets Thursday. The aim of such a move would be to thaw the lending freeze that threatens to push the world's economy into recession. It comes after rampant fear about the global economy sent investors scurrying on Tuesday for safety in U.S. government securities despite an orchestrated round of rate cuts by the world's central banks. more...

> Retirement accounts have lost $2T (10/08/2008)
WASHINGTON -- Americans' retirement plans have lost as much as $2 trillion in the past 15 months -- about 20 percent of their value -- Congress' top budget analyst estimated Tuesday as lawmakers began investigating how turmoil in the financial industry is whittling away workers' nest eggs. more...

> Toll hikes, Round 3: Lighter, easier (10/08/2008)
Fueled by tough criticism from motorists and a weakening economy, the state yesterday took a third stab at a plan to raise highway tolls, cutting the size of the increases and sweetening the proposal with discounts for truckers, senior citizens and others. more...

> The crisis spreads: Fed makes plans (10/08/2008)
WASHINGTON -- The Federal Reserve moved swiftly to break through a credit clog that is imperiling the economy, saying yesterday it would buy massive amounts of short-term debt and hinting it may cut interest rates. more...

> The crisis spreads: Bailouts continue (10/08/2008)
New Jersey Treasury Department officials are working on a local version of the federal government's financial bailout, devising a state role to help towns and school boards find buyers for their short-term notes if they are closed out of the open market. more...

> Public Works Erode As Debt Market Falters (10/08/2008)
Public-works and institutional projects are succumbing to the same financial trouble that has laid waste to commercial building construction, thinning backlogs and throwing doubt on the newly adopted federal rescue before it has even had a chance to be carried out. In the newest federal intervention, the Federal Reserve on Oct. 7 announced it will buy commercial paper as a “liquidity backstop” to issuers. Anxiety flared everywhere over what could come next. more...

> WORLDWIDE WORRIES (10/07/2008)
It was crunch time for David Dietze as he bent over to do his sit-ups while watching the business news channels at around 5 a.m. more...

> President enacts $700B economic lifeline for the economy (10/04/2008)
WASHINGTON -- Confronted by growing numbers of mortgage defaults, panicky global financial markets and rising unemployment, the House yesterday passed a massive $700 billion rescue package in hopes of preventing an economic collapse. President Bush quickly signed the bill. more...

> Congress Approves Amtrak Funding, Railroad Safety Measure (10/03/2008)
Congress has cleared a passenger rail funding and safety bill that authorizes $13 billion over five years for Amtrak and $1.5 billion over 10 years for the Washington Metropolitan Area Transit Authority. Final congressional approval came on Oct. 1, when the Senate passed the measure, by a 74-24 vote. more...

> N.J. Assembly OKs economy package (09/26/2008)
TRENTON -- Hoping to blunt the impact of tough economic times they say lie ahead, Assembly members unanimously advanced a package of bills Thursday aimed at simplifying the rules for corporate activity in New Jersey. more...

> BUSINESS: Economy's spring rebound was bit less energetic (09/26/2008)
The economy's spring rebound turned out to be slightly less energetic than the government previously thought. And, the road ahead is likely to be rocky as the country gets pounded by the worst financial crisis in decades. more...

> Economic Memo: Credit Enters a Lockdown (09/25/2008)
The words coming out of Washington this week about the American financial system have been frightening. But many have raised the possibility that the Bush administration is fear-mongering to gin up support for its $700 billion bailout proposal. more...

> House and Senate Pass Vital Six-Month FAA Extension (09/24/2008)
Facing a Sept. 30 deadline, Congress has approved a six-month extension for Federal Aviation Administration programs, include airport construction grants. The legislation, which the House and Senate passed on Sept. 23, now goes to President Bush for his signature. Without the extension, authority for FAA programs would expire at the end of September. more...

> Crisis Changes Demand Side of Costs (09/24/2008)
Record high oil and steel prices during the first half of the year were just starting to work their way into construction industry cost indexes when the financial meltdown on Wall Street threatened to drastically reduce the demand side of the cost equation. more...

> Gasping Bank System Puts Credit in Doubt (09/24/2008)
The swift deterioration of the U.S. banking system is threatening to restrict funds needed at every step of the construction industry’s life cycle, with participants putting the brakes on everything from casino jobs and privatized bridge-repair projects to company buyouts and executive retirements. more...

> Corzine proposes ways to jolt N.J. economy (09/23/2008)
NEWARK -- With the credit crisis threatening to send New Jersey's economy into a tailspin, Gov. Corzine said Monday the state needs to work with energy companies and smaller, healthier banks to provide a short-term jolt. more...

> Xanadu project could soak taxpayers (09/23/2008)
New Jersey taxpayers, fresh from shelling out $25 million to prop up the faltering Camden aquarium, could find themselves paying to support a privately owned fish tank in the Meadowlands. more...

> Corzine urges public works spending to spur state's economy (09/23/2008)
Gov. Jon Corzine today proposed accelerating state spending on public works projects such as schools, roads and mass transit and encouraging the creation of new energy conservation jobs -- all in a bid to forestall the dire economic consequences of the Wall Street financial crisis. more...

> N.J. officials brainstorm ways to fix economy (09/23/2008)
Gov. Jon Corzine yesterday proposed accelerating state spending on public works projects such as schools, roads and mass transit and encouraging the creation of new energy conservation jobs -- all in a bid to forestall the dire economic consequences of the Wall Street financial crisis. more...

> Report says New Jersey could gain 57,000 jobs by going green (09/22/2008)
New Jersey could create about 57,000 new jobs by investing $3.2 billion in clean energy technologies and environmental programs, according to a report released this month. more...

> New Rail Tunnel Would Attract Wealth (09/22/2008)
TRENTON — Having to stand on a hot and crowded train from New Jersey to Manhattan because there are no empty seats can be called bad luck or bad timing. But economist Martin E. Robins calls it a bad sign for the economy. more...

> N.J. to hold emergency forum on economy (09/22/2008)
TRENTON - Last week's upheaval on Wall Street has New Jersey lawmakers taking steps to gauge its effect on state residents and help manage the fallout. more...

> N.J. unemployment at 5-year high (09/18/2008)
TRENTON -- Economic woes continue to take a toll on New Jerseyans, with the unemployment rate hitting a five-year high of 5.9 percent last month. more...

> BUSINESS: Jobless claims rise due to Hurricane Gustav (09/18/2008)
New applications for unemployment benefits rose unexpectedly last week due to the impact of Hurricane Gustav, the government said Thursday. more...

> State Pension Fund Loses 2.9 Percent in Fiscal Year (09/18/2008)
Dealing with a volatile stock market, New Jersey's pension fund lost 2.9 percent over the fiscal year that ended June 30, according to the state Treasury Department. more...

> White House re-evaluates description of economy (09/18/2008)
WASHINGTON — The White House throttled back its description of the U.S. economy on Wednesday, labeling it resilient enough to withstand some shocks to the system but refusing to say it is fundamentally sound -- the phrase that has jolted the race for the presidency. more...

> Limited Funding Sources Hamper New Bridge, Highway Projects (09/17/2008)
In the weeks leading up to the one-year anniversary of the collapse of the Interstate 35W Bridge in Minneapolis, workers installed the last of 120 pre-cast segments comprising the main span of the $234-million replacement structure, and were on track to have traffic flowing across the Mississippi River by mid-September. more...

> Ailing Economy Could Signal Future Slowdown in Once-Booming Sector (09/17/2008)
While construction throughout the general building market continues unabated due to strong demand in hospitality, higher education and medical sectors for more capacity and greener technology, contractors are dropping hints that the boom times may be ending. more...

> Officials Try to Stem Crisis; Fed to Meet (09/16/2008)
PARIS — Asia stocks reeled Tuesday amid fears about financial contagion from the turmoil engulfing Wall Street, while European markets posted slightly more moderate declines as a glimmer of stability seeped into the market. more...

> N.J. braces for impact of Wall St. crisis (09/16/2008)
ATLANTIC CITY -- From young stock market professionals in Hoboken who suddenly find themselves unable to pay the mortgage or patronize the city's restaurants and bars to Atlantic City casinos struggling to borrow money to expand or pay down debt, the Wall Street crisis is making itself felt in a big way in New Jersey.

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> Financial markets near meltdown (09/15/2008)
NEW YORK -- A failed plan to rescue Lehman Brothers was followed last night by more seismic shocks from Wall Street, including an apparent government-brokered takeover of Merrill Lynch by the Bank of America. more...

> $8-Billion Trust-Fund 'Fix' Gains Final Hill Approval (09/12/2008)
Acting to avert a highway financial crisis, Congress has approved an $8-billion infusion for the ailing Highway Trust Fund, which should allow the Federal Highway Administration to fully reimburse states' for road-financing expenses for about the next 12 months.

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> Weaker global economy slowing U.S. recovery (09/10/2008)
For a time, it looked as though the weakness in the U.S. economy would have limited impact on the solid growth in the rest of the world, which in turn has been providing strong demand for U.S. exports. But now there are signs that the global economy is following the United States into an economic downturn. more...

> Parkway, turnpike tolls to increase 50 percent starting in '09 (09/05/2008)
TRENTON, N.J. Commuters who drive the New Jersey Turnpike and Garden State Parkway are facing higher tolls.
The New Jersey Turnpike Authority's board has told Gov. Jon S. Corzine it will raise tolls by 50 percent starting in 2009.

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> U.S. joblessness worse than expected (09/05/2008)
The nation's unemployment rate zoomed to a four-year high of 6.1 percent in August as employers slashed 84,000 jobs, dramatic proof of the mounting damage a deeply troubled economy is inflicting on workers and businesses alike. more...

> A plan to raise N.J. tolls ... Take two (09/05/2008)
The cost of driving on New Jersey's Turnpike and Parkway would more than double by 2012 in a series of toll hikes that would begin next year, the state Turnpike Authority proposed yesterday. more...

> Old Bridge looks at $2 billion development in southern corner of township (09/05/2008)
OLD BRIDGE —A two-billion dollar "Corporate Campus Project" is taking shape in Old Bridge on a 500-acre redevelopment area formerly known as the Olympia & York property. more...

> Job news shows slump is far from over (09/05/2008)
WASHINGTON — Jobless claims rose unexpectedly last week, the government said Thursday, while companies responded to the slowing economy by producing more with fewer workers. more...

> Citing Dire Trust Fund Picture, DOT Calls for $8-Billion Infusion (09/05/2008)
With the balance in the Highway Trust Fund dropping much faster than expected, U.S. Transportation Secretary Mary Peters has directed her department for the first time to restrict highway-aid reimbursements to state departments of transportation and urged Congress quickly to approve an $8-billion infusion for the trust fund's highway account. Peters said on Sept. 5 that if nothing changes, the highway account will show a zero balance as early as Sept. 30. more...

> Cautious optimism rises from the economic trenches (08/29/2008)
From the perch of the Commerce Department, the economy performed remarkably well in the April to June period, all things considered. more...

> The suddenly robust economy shows signs of slowing again (08/29/2008)
WASHINGTON -- The economy pulled out of a dangerous rough patch in the spring, thanks largely to strong exports, but the rebound isn't expected to last. Economic slowdowns overseas could make exports tail off just as Americans are hunkering down after the bracing effect of rebate checks wanes, plunging the country into another rut later this year. more...

> Economic Growth Stronger Than Expected (08/28/2008)
The economy expanded faster from April to June than originally thought, the government said on Thursday, catching many economists off-guard and cheering investors on Wall Street. more...

> BUSINESS: Economy rebounds in 2Q, mostly spurred by exports (08/28/2008)
The economy shifted to a higher gear in the spring, growing at its fastest pace in nearly a year as foreign buyers snapped up U.S. exports and tax rebates spurred shoppers at home. more...

> BUSINESS: Jobless claims fall for 3rd straight week (08/28/2008)
The U.S. government says the number of people signing up for jobless benefits declined last week, the third straight drop from a six-year high reached earlier this month. more...

> Leading Economic Indicators Fell Sharply in July (08/21/2008)
NEW YORK (AP)-- A private business group's measure of the economy's health showed the largest drop in one year as stocks fell, new building permits declined and unemployment rose. more...

> BUSINESS: Jobless claims fall for second straight week (08/21/2008)
The number of newly laid-off workers seeking unemployment benefits fell more than expected last week, the second straight drop from a six-year high, according to government data released Thursday. more...

> N.J. debt up $2.2B amid bids to trim it (08/21/2008)
New Jersey's state debt swelled by almost $2.2 billion last year even as Gov. Jon Corzine campaigned to rein in borrowing, state officials confirmed this week. more...

> Wholesale inflation rising at highest rate since 1981 (08/20/2008)
WASHINGTON -- Wholesale inflation soared in July, leaving prices rising at the fastest pace in nearly three decades. While recent declines in oil and other commodity prices raise hopes inflation may have peaked, some economists worry about the widespread nature of the July price surge and caution it will take more time for that pressure to ease on Wall Street and Main Street. more...

> Inflation Hits Annual Pace Not Seen Since 1991 (08/14/2008)
Inflation reached a 17-year high last month, fueled by high gasoline and food prices, all but assuring that the Federal Reserve will keep interest rates on hold for the time being. more...

> BUSINESS: Consumer prices rise at double the expected rate (08/14/2008)
Consumer prices shot up in July at twice the expected rate, pushed higher by surging energy and food costs. The latest surge left inflation running at the fastest pace in 17 years. more...

> Unemployment rate up slightly in state (08/14/2008)
TRENTON — New Jersey's unemployment rate edged up 0.1 percent to 5.4 percent in July, but remained below the national rate of 5.7 percent. more...

> Corzine rejects gas tax hike (08/12/2008)
ATLANTIC CITY — Gov. Jon S. Corzine on Monday described a projected $8 billion deficit in the federal Highway Trust Fund as shocking, but opposed raising the state's gas tax to offset any shortfall in federal funding for New Jersey transportation projects. more...

> Corzine's road remains rocky on transit plan (08/12/2008)
As he and other Northeastern governors commiserated yesterday on the obstacles to funding transportation infrastructure, Gov. Jon Corzine said he is "not taking anything off the table" as he develops a new plan to pay for the state's roads, bridges and mass transit. more...

> Rail Line to Impact More than Transportation (08/11/2008)
The Republicans of the New Jersey Legislature last week sent a letter to New York Gov. David A. Paterson asking that the Empire State pay for its share of a proposed Hudson River rail tunnel between New Jersey and Manhattan. more...

> $1B cost stalling idea of light rail: (08/10/2008)
Aug. 10--Whenever the Capital Region conversation turns to concern about traffic jams, clean air, high gas prices or suburban sprawl, there's one cure you can bet someone will propose: light rail. more...

> Study: N.J. has Nation's Highest State-Local Tax Burden (08/07/2008)
New Jersey taxpayers currently bear the heaviest state-local tax burden, and Alaskans have the lightest tax burden, according to a new report from the Tax Foundation, a Washington, D.C.-based non-profit organization that focuses on federal, state and local fiscal policy. more...

> BUSINESS: Jobless claims rise to highest since March 2002 (08/07/2008)
The number of newly laid off people signing up for jobless benefits last week climbed to its highest point in more than six years as companies cut back given the faltering economy. more...

> We're Number One (Alas) (08/07/2008)
It’s great to be number one in something, isn’t it? more...

> N.J. highways least cost-effective in nation, study says (08/01/2008)
New Jersey has bad roads at high costs, and its highway system is the nation's least cost-effective, according to a study released Thursday. more...

> Small Business Lifts National Employment (07/30/2008)
Employment in the private sector rose by 9,000 jobs across the country from June to July, sparked by an increase of 50,000 jobs among small businesses, according to the ADP National Employment Report released today. more...

> Construction Starts - June Construction Slips 1% (07/30/2008)
New construction starts in June retreated 1% to $552.0 billion (annual rate), as a pullback for nonresidential building outweighed gains for the residential and nonbuilding sectors. more...

> Lonegan files suit to void school construction borrowing (07/28/2008)
TRENTON - Conservative activist Steve Lonegan said he filed suit today seeking to void legislation enacted this month to borrow $3.9 billion for school construction without voter approval. more...

> Officials: Future road projects in jeopardy (07/28/2008)
WASHINGTON — Due to the exploding cost of asphalt, concrete, steel and other building materials nationwide, New Jersey may take longer than anticipated to begin repaving that pothole-ridden road near you or widening the congested exit ramp you use to get on or off the nearest highway.

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> In Surprise, New Trust Fund Forecast Shows Smaller Deficit (07/28/2008)
Despite a continued decline in highway travel, a new Bush administration forecast of the Highway Trust Fund's financial health surprisingly projects a slightly lower 2009 deficit, compared with an estimate issued early this year. more...

> Jobless claims up as home sales slide (07/25/2008)
WASHINGTON -- Two cornerstones of the economy -- jobs and housing -- sank to new depths Thursday, with unemployment claims bolting higher and home prices recording one of their steepest drops on record. more...

> House Clears Bridge Inspection And Reconstruction Funding Bill (07/25/2008)
The House July 24 approved legislation providing an additional $1 billion to help repair and replace deteriorating bridges across the U.S. by a vote of 365-55. The bill also significantly toughens bridge inspection requirements. more...

> Fed Report Says Economy Continued to Slow (07/24/2008)
Americans are cutting back on everything from cars to food to name-brand products, the Federal Reserve said on Wednesday, in another sign that the economy could slow significantly as money from the federal stimulus checks dries up.

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> BUSINESS: New layoff filings jump as companies retrench (07/24/2008)
The number of newly laid off people filing claims for unemployment benefits bolted past 400,000 last week as companies trimmed their work forces to cope with a slowing economy. more...

> Fed report shows a turn for the worse (07/24/2008)
WASHINGTON -- The country slogged through slower economic growth and rising prices during the summer, packing a double whammy to people and businesses alike. more...

> U.S. minimum wage going up today (07/24/2008)
WASHINGTON —About 2 million Americans get a raise today as the federal minimum wage rises 70 cents. The bad news: Higher gas and food prices are swallowing it up, and some small businesses will pass the cost of the wage hike to consumers. more...

> Turnpike Authority Faces 'Perfect Financial Firestorm' (07/24/2008)
With toll revenue shrinking and a dramatic spike in the cost of asphalt, the New Jersey Turnpike and the Garden State Parkway are in the midst of a "perfect financial firestorm," said Kris Kolluri, the commissioner of the state Department of Transportation. more...

> House Approves $8-Billion Highway Trust Fund 'Fix' (07/23/2008)
By a strong margin, the House has approved legislation that would avert a projected deficit in the Highway Trust Fund by shifting $8 billion to the fund from the general Treasury. The measure was approved July 23 on a 387-37 vote, a margin that's well above two-thirds needed to override a threatened presidential veto. more...

> Forecast for N.J.: Recession to last through early 2010 (07/17/2008)
NEWARK -- New Jersey is more than a half-year into a mild recession that should end in early 2010, according to a Rutgers University economic forecast released Wednesday. more...

> State continues to lose jobs (07/17/2008)
As the state labor department announced yesterday that employers shed 4,100 jobs in June, Rutgers economists were predicting payrolls will keep on shrinking through 2010. more...

> June Construction Slips 1% (07/17/2008)
New York, N.Y. – July 17, 2008 – New construction starts in June retreated 1% to a seasonally adjusted annual rate of $552.0 billion, according to McGraw-Hill Construction, a division of The McGraw-Hill Companies. Nonresidential building fell 12% after its elevated May pace, pulling down the volume of total construction. more...

> Gas and Food Prices Push Inflation Higher (07/15/2008)
WASHINGTON — Soaring costs for gasoline and food have pushed inflation at the wholesale level up by a larger-than-expected amount in June, leaving inflation rising over the past year at the fastest pace in more than a quarter-century. more...

> Euro powers to new record against dollar (07/15/2008)
FRANKFURT, Germany -- The euro roared to a new high against the dollar on Tuesday, reaching US$1.6038 in European trading as markets worried about the ongoing U.S. lending crisis and the state of the country's economy. more...

> Bernanke: U.S. economy facing ‘difficulties’ (07/15/2008)
WASHINGTON - Federal Reserve Chairman Ben Bernanke told Congress Tuesday the fragile economy is facing “numerous difficulties” including persistent strains in financial markets, rising joblessness and housing problems — despite the Fed’s aggressive interest rate reductions and other fortifying steps. more...

> State hears ideas to beef up business (07/11/2008)
TRENTON -- Saying a large number of business owners think the state's business environment will deteriorate, a business group's think tank recommended Thursday ways state lawmakers can make New Jersey more hospitable to business.

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> Firms fault Jersey business climate (07/11/2008)
New Jersey companies give low marks to the state's business climate, according to a new study that advocates less taxation and regulation, and more state spending to fuel the future growth of the now-stagnant work force. more...

> State will borrow nearly $4 billion to build schools (07/10/2008)
NEWARK — Gov. Jon S. Corzine signed a bill Wednesday allowing the state to borrow $3.9 billion for school construction, popular in the four cities in which he visited schools during the day but controversial because voters aren't being asked for their approval, despite his call to stop selling bonds without the public's consent. more...

> Corzine signs a 'painful' budget (07/01/2008)
Acknowledging that "change is hard," Gov. Jon Corzine yesterday signed a $32.9 billion state budget that features dramatic cuts -- and then issued an executive order to curb future spending. more...

> Rebates prop up economy (06/28/2008)
WASHINGTON -- Millions of economic stimulus payments sent incomes surging in May by the largest amount since a similar recession-fighting effort by Gerald Ford 33 years ago. more...

> Eyeing inflation, Fed ends 9-month run of cuts (06/25/2008)
WASHINGTON - The Federal Reserve, navigating treacherous economic waters, decided on Wednesday to leave a key interest rate unchanged, bringing an end to a string of consecutive rate cuts.

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> Fed Keeps Rates Steady, but Notes Inflation Worries (06/25/2008)
Caught between inflationary pressures and a weakening economy, the Federal Reserve’s policy makers voted on Wednesday to deal primarily with the weakening economy by keeping interest rates at their present level.

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> Highway Trust Fund ‘Fix’ Stalls in House and Senate (06/25/2008)
A proposed $8-billion infusion for the Highway Trust Fund has run into trouble in Congress, leaving industry officials hunting for another way to avert a looming projected deficit in the trust fund. more...

> State to borrow $3.9 billion for school construction (06/24/2008)
The state Legislature on Monday approved borrowing $3.9 billion for school construction, with both supporters and detractors saying they voted with the children in mind.
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> House Passes Spending Package With $11 Billion for Construction (06/20/2008)
The House has approved a revised, two-part supplemental spending bill that would set aside $165.4 billion for the Dept. of Defense to continue the wars in Iraq and Afghanistan, and $21.1 billion for DOD construction and funds for other agencies. The package, approved June 19, includes about $11 billion for defense and nondefense construction programs. more...

> Jobless claims decline by 5,000 following surge (06/19/2008)
WASHINGTON (AP) - The number of newly laid-off workers filing applications for unemployment benefits dropped slightly last week but remained at a level showing the strains of a weak economy. more...

> Unemployment rises, N.J. gains only 100 jobs (06/19/2008)
TRENTON (AP) -- Unemployment in New Jersey rose by a half percent to 5.4 percent in May, the largest increase in more than two years. more...

> State's job growth at a standstill (06/19/2008)
New Jersey's economy provided new evidence yesterday that job growth has ground to a halt, and the pain of unemployment is spreading: The state's unemployment rate jumped to 5.4 percent in May, from a revised 4.9 percent in April, and employer payrolls were flat. more...

> Fed boxed by inflation, slow growth (06/18/2008)
WASHINGTON -- Wholesale prices barreled ahead while housing and industrial activity faltered -- a blend of high-costs and slow growth that ensures the Federal Reserve's most likely move on interest rates next week will be no move whatsoever. more...

> N.J. unemployment rate sees largest jump in 2 years (06/18/2008)
New Jersey added 100 jobs in May, the third month the employment level has remained largely unchanged, but the unemployment rate took the largest jump in 25 months. more...

> Reports a 'negative cocktail' for economy (06/18/2008)
The U.S. economy may be suffering from its first bout of stagflation since the start of this decade, reports on housing, prices and manufacturing indicated. more...

> Why It’s Worse Than You Think (06/16/2008)
For months, economic Pollyannas have looked beyond the dismal headlines and promised a quick recovery in the second half. They're dead wrong. more...

> Jobless claims jump to highest level since late March (06/12/2008)
WASHINGTON (AP) - The number of people filing new claims for unemployment benefits jumped last week to the highest level since late March. more...

> House OKs $14.4B high-speed rail service for Northeast Corridor (06/12/2008)
WASHINGTON — Train travelers moved closer to a faster trip to New York or Washington with House passage of a bill supporting construction of a new high-speed rail system in the Northeast. more...

> Understanding the unemployment rate (06/08/2008)
On Friday, the U.S. Labor Department reported the sharpest monthly jump in the unemployment rate in more than 20 years -- from 5.0 percent in April to 5.5 percent in May. And for the fifth straight month, American employers cut jobs last month, a total of nearly 50,000. more...

> Jobless rate jumped to 5.5 percent in May (06/06/2008)
WASHINGTON - The nation’s unemployment rate jumped to 5.5 percent in May — the biggest monthly rise since 1986 — as nervous employers cut 49,000 jobs. more...

> Weekly Jobless Claims Unexpectedly Fall (06/05/2008)
WASHINGTON (Reuters) - The number of U.S. workers filing new claims for jobless benefits fell unexpectedly last week to the lowest level since mid-April, a government report said Thursday, raising optimism that the sluggish economy may skirt a recession. more...

> Groups brace for deep cuts in NJ spending (06/05/2008)
As legislative leaders privately tried to iron out the final details of a budget Wednesday, groups that seek state money said they are bracing for unprecedented cuts. more...

> Jobless claims show unexpected improvement (06/05/2008)
WASHINGTON (AP) - The number of laid-off workers filing claims for unemployment benefits showed an unexpected improvement last week although a key indicator of unemployment hit a four-year high. more...

> Linking Parkway, Rt. 78 (06/02/2008)
For 30 years, drivers on the Garden State Parkway have had only limited access to Route 78.

For 20 years, they've been promised full access was on the way.

more...

> Report issues bleak forecast (05/28/2008)
Not since George H.W. Bush ran the White House have consumers felt so downbeat about the economy. And the catalyst for much of the gloom -- the housing slump -- shows no signs of abating, new data yesterday showed. more...

> Credit crisis claims thousands of jobs (05/28/2008)
It's as if the entire work force at Goldman Sachs and Morgan Stanley vanished in less than a year. more...

> Jersey bruised, but not broken (05/25/2008)
If New Jersey were a stock, it would look a lot like Microsoft -- a mature company past its prime, whose fast growth, high-flying days are well behind it. more...

> There's light at the end of the tunnel (05/25/2008)
I understand many of you are pessimistic about the future. You have good reason to be. But I think some recent events qualify as at least a glimmer of hope in what has been a very dark start to 2008. more...

> Fed forecasts slower growth in '08 (05/22/2008)
WASHINGTON -- The Federal Reserve yesterday sharply lowered its projection for economic growth this year, citing blows from the housing and credit debacles along with zooming energy prices. It also expects higher unemployment and inflation. more...

> Index says economy down, but not out (05/20/2008)
Gas prices are high, food's more expensive and the job market's cold, but the United States may still avoid a recession. more...

> Jobless rate rises in N.J. (05/15/2008)
New Jersey's unemployment rate edged up to 5 percent in April, from 4.8 percent, as state payrolls have shed nearly 10,000 jobs since the start of the year, the state reported yesterday. more...

> Inflation Easing, Despite Food Costs (05/14/2008)
WASHINGTON (AP) -- Inflation pressures eased a bit in April despite the biggest jump in food prices in 18 years. more...

> Corzine: NJ windfall should cut debt (05/14/2008)
Gov. Jon Corzine acknowledged Tuesday that New Jersey is getting an unexpected budget windfall, but he said the extra cash should be socked away to help reduce the state's debt rather than spent to restore proposed cuts. more...

> Fed's relief efforts paying off, but crisis is far from over (05/14/2008)
Turmoil in financial markets has eased somewhat, but the situation is still "far from normal," Federal Reserve Chairman Ben Bernanke said yesterday. more...

> Economic reports may be misleading (05/13/2008)
WASHINGTON -- The unemployment rate drops. Productivity grows. The trade deficit shrinks. Sounds great, right? Not so fast.

more...

> NJ budget shifts to black from red (05/13/2008)
Legislative budget analysts are set to announce today that they believe New Jersey is heading into the next budget year with a windfall, not a shortfall. more...

> Road, rail work spells jobs, taxes (04/24/2008)
The money New Jersey plans to spend over the next decade on highway, rail and bridge projects will create 26,800 jobs a year and generate more than $1.5 billion in state and local tax revenue, a Rutgers University study found.

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> Report: Many New Jerseyans can't afford bare-bones needs (04/10/2008)
TRENTON -- One in five New Jerseyans aren't paid enough to afford bare-bone necessities without seeking outside help, as the gap between their earned income and cost of living widens, a report released by poverty advocacy groups Wednesday says. more...

> Self-sufficiency eludes 1 in 5 in N.J. (04/10/2008)
One in five New Jerseyans -- 1.68 million adults and children -- cannot afford to live without some kind of public assistance, according to a report issued yesterday by Legal Services of New Jersey's Poverty Research Institute. more...

> Trade deficit wider; jobless claims drop (04/10/2008)
WASHINGTON (AP) -- The U.S. trade deficit unexpectedly rose for a second straight month in February as a big jump in imports of foreign-made cars offset the first decline in oil imports in a year. more...

> Financial stress shows (04/06/2008)
The burden of oversized mortgages and credit-card debt is proving to be overwhelming for an increasing number of consumers, as rising gas and food prices squeeze household incomes. more...

> That weight you feel is state's debt burden (04/05/2008)
New Jersey residents continued to grapple with one of the heaviest state debt loads in the nation last year, a new survey of public borrowing shows. more...

> Jobless claims reach two-year peak (04/04/2008)
WASHINGTON -- The number of new people signing up for unemployment benefits last week shot up to the highest level in more than two years, fresh evidence of the damage to a national economy clobbered by housing, credit and financial crises. more...

> Ailing economy may force more cuts to state budget (04/04/2008)
Less than six weeks after proposing more than $1.9 billion in cuts to spending, Gov. Jon Corzine yesterday said it may be necessary to slash the state budget even deeper. more...

> Talk in Trenton turns to slowing economy (04/03/2008)
On the same day Federal Reserve chairman testified in Washington that the nation may be lapsing into recession, a South Jersey economist told lawmakers in Trenton he expects it will be a short one. more...

> Jobless benefits in a bind (04/02/2008)
Gov. Jon Corzine yesterday proposed an emergency $260 million infusion into the fund that bankrolls benefit checks for laid-off workers, as rising joblessness and years of state budget raids pushed the fund toward insolvency. more...

> Manufacturing, construction weaken (04/01/2008)
NEW YORK (AP) -- Further weakness in the manufacturing sector and construction industry underscored concerns that the U.S. economy has fallen into recession, though most analysts believe a downturn will be mild and relatively short-lived. more...

> UPDATE: New Jersey signs trade deal with Chinese province (04/01/2008)
TRENTON — New Jersey Gov. Jon S. Corzine and officials from China's Shandong Province signed a cultural and trade agreement today meant to boost economic ties between the two. more...

> Economy's days are darkening (03/28/2008)
Economists sound an awful lot like meterologists these days, predicting the course and severity of an approaching storm. more...

> Jersey's tax revenue outlook sinks by $134 million (03/25/2008)
In a sign that the faltering economy is further pinching state finances, nonpartisan legislative analysts believe state tax receipts over the next 15 months will be $134 million below those projected by the Corzine administration just a month ago. more...

> With Economy Tied to Wall St., New York Braces for Job Cuts (03/24/2008)
New York is accustomed to job losses on Wall Street. They come with just about every economic slump, and their impact is felt throughout the city. more...

> Working families struggle, despite NJ's wealth (03/24/2008)
New Jersey is the nation's second wealthiest state, but 20 percent of its working families don't earn enough money to adequately support themselves, a report found. more...

> Drop in jobs worries N.J. (03/20/2008)
New Jersey employers continued to cut jobs in February, adding more evidence the economic tur moil spreading across the country is hitting the state's labor market. more...

> Spotlight on economy: Fed chief fights crisis with all his weapons (03/16/2008)
For many, that's the extent of their Federal Reserve vocabulary list. That's because, as long as anyone can remember in the CNBC TV generation, that's about as creative as the Fed got when it tinkered with the economy and the financial markets. more...

> Economy in the eye of recession storm (03/14/2008)
WASHINGTON -- Oil hit a record high, the dollar sank again and consumers stopped buying pretty much everything. more...

> Job loss figures raise more alarm on the economy (03/08/2008)
Optimists on Wall Street were hoping for a sign the economy was slowly adding jobs again, forestalling a recession.

Instead, they got a cold, hard slap.
more...

> A shaky economy stirs job jitters in Jersey (03/07/2008)
Day after day, Roberta Weiss hopes to get the call that will send her back to work.

Weiss was laid off from a student-loan processing company late last year. She knew times were tough, but with 24 years of experience in information technology, she figured she'd find another job quickly.
more...

> Alarm doesn't rattle Bernanke, Bush (02/29/2008)
WASHINGTON -- The economy is in turmoil, yet President Bush and Federal Reserve chief Ben Bernanke say the country will weather the storm. Neither sees a recession on the horizon. more...

> N.J. job growth lags behind U.S. average (02/28/2008)
New Jersey's job market slowed to a near halt in 2007 and dropped precipitously at the beginning of 2008, the state Department of Labor and Workforce Development reported Wednesday.
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> Revised job figures reveal picture isn't so pretty in Jersey (02/28/2008)
New Jersey's economy isn't as healthy as state economic officials thought as recently as a few weeks ago.

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> Bayonne expansion (02/28/2008)
on track for '09

L ight rail is on the move and heading south.

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> Corzine Seeks to Cut N.J. Budget and Work Force (02/27/2008)
TRENTON — Declaring that New Jersey had reached an irrevocable “turning point” because of years of bad fiscal habits, Gov. Jon S. Corzine proposed a budget on Tuesday that would reduce the state’s work force by 3,000 people, close three departments and prune expenses for services including colleges and hospitals.

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> Forecast 2008 (02/24/2008)
Several massive development projects are gaining steam and reshaping the Meadowlands.

The projects include the Xanadu retail/entertainment complex, a new Giants-Jets stadium and the controversial EnCap project.

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> New Reports Signal Economic Slowdown (02/21/2008)
A manufacturing slowdown in the mid-Atlantic region this month reached its deepest in seven years, while an index of future economic activity fell for a fourth month, providing more evidence of a recession.

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> That ’70s Look: Stagflation (02/21/2008)
Lately, many people are hearing an echo — faintly perhaps but distinctly audible — of the stagflation of the 1970s. more...

> Rising Inflation Limits the Fed as Growth Lags (02/21/2008)
WASHINGTON — The Federal Reserve, for all its power, faces tough new limits on its ability to keep the economy out of a recession. more...

> Fed Forecasts Inflation, Unemployment (02/21/2008)
WASHINGTON - The Federal Reserve on Wednesday lowered its projection for economic growth this year, citing damage from the double blows of a housing slump and credit crunch. It said it also expects higher unemployment and inflation. more...

> Consumer Prices Rise Again in January (02/20/2008)
WASHINGTON (AP) -- Consumer prices rose by a bigger-than-expected amount in January, reflecting big increases in the cost of food and health care, the government reported Wednesday.

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> Reduction in cargo at port reflects economic slowdown (02/19/2008)
It was a sign of the boom at the Port of New York and New Jersey.

In 2006, Maher Terminal in Elizabeth created an overnight shift, assigning longshoremen to rearrange stacks of cargo containers that had been delivered during the day to make room for new shipments.

more...

> On the bright side (02/07/2008)
The news on the economic front seems worse every day. We may soon be in a recession, if we're not in one already. more...

> Service sector report signals U.S. recession has arrived (02/06/2008)
NEW YORK -- Lingering hopes that the U.S. might avert a recession withered Tuesday after the nation's service sector -- its banks, travel companies, contractors and stores, among others -- shrank for the first time in five years. more...

> DOT Secretary Mary Peters Pushes Big Shift for Roads,Transit (02/06/2008)
It’s a chilly late January morning and U.S. Transportation Secretary Mary E. Peters is in Montgomery, Ala., speaking bluntly about the need to revamp the nation’s highway program. At a press conference in a state transportation department maintenance shop, Peters praises Gov. Bob Riley (R), who’s standing nearby, for seeking to get the private sector more involved in road projects. Then she blasts the way the program operates now, declaring, “I have…zero confidence zero that if we send more money to Washington we’ll get any better results back.” more...

> Economic Census determines what N.J. really made of (02/03/2008)
New Jersey isn't the Garden State it once was, but just what has it become?
The Pharmaceutical State perhaps? Or, heaven forbid, the Toxic Waste Disposal State?


more...

> Labor pains: First drop in jobs since'03 (02/02/2008)
WASHINGTON -- In a shower of pink slips, U.S. employers cut jobs last month for the first time in more than four years, the starkest signal yet that the economy is grinding to a halt if it hasn't already toppled into recession.

more...

> U.S. Growth Slowed Drastically in 4th Quarter (01/31/2008)
The American economy expanded by a surprisingly weak 0.6 percent from October to December, the government reported Wednesday, offering the latest indication that the United States is already in the midst of a substantial slowdown and perhaps a recession. more...

> Economy Nearly Stalled in 4th Quarter (01/30/2008)
WASHINGTON (AP) -- The economy nearly stalled in the fourth quarter with a growth rate of just 0.6 percent, capping its worst year since 2002.

more...

> Unemployment rate up slightly (01/30/2008)
Unemployment in the Lehigh Valley and Warren County jumped half a percentage point in December -- that's equal to 2,400 people -- according to the state Department of Labor & Industry.

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> A January to forget (01/30/2008)
In the 20 years Mike Marcotullio has worked on Wall Street, he's seen historic market reversals that pushed weaker men to the brink of despair. more...

> Counties that pay heavy toll to get most aid (01/26/2008)
New Jersey will spend more than $42 billion on highway, bridge and transit projects over the next decade if Gov. Jon Corzine's plan to borrow against future toll increases is approved by the Legislature, according to data released last night.

more...

> Deal Reached on Economic Stimulus Plan (01/25/2008)
House leaders announced Jan. 24 that they had reached a deal with the White House on a package to jump-start the nation's slowing economy. The estimated $150-billion package is primarily targeted to middle-income Americans but includes tax relief and incentives for businesses that could go into effect this spring. There is no additional federal infrastructure spending in the plan. more...

> Economists tell us -- did the Federal Reserve panic? (01/23/2008)
The Federal Reserve's surprise move to slash the federal funds rate by three-quarters of a point yesterday was the Fed's biggest one-day rate cut in nearly two decades. more...

> The economy may be stronger than you think (01/21/2008)
THE JAN. 4 REPORT by the Bureau of Labor Statistics that the nation's unemployment rate had risen from 4.7 percent in November to 5.0 percent in December sparked widespread fear that the U.S. economy has either entered a recession or is about to enter one.

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> Poor 2007 earnings dragging down 2008 (01/20/2008)
In Roman mythology, Janus is the god of doorways, and January is in turn the doorway of the year. For Wall Street, this first month of 2008 has brought none of the optimism the myth implies -- instead, a disappointing stream of economic and earnings reports has investors dreading what's still to come. more...

> Expert sees N.J. in a rut (01/18/2008)
New Jersey's economy will lag the nation's through 2017, a Rutgers economist predicted yesterday during a 10-year economic outlook conference in New Brunswick.

more...

> Recession talk includes local bright spots (01/10/2008)
A leading economist Wednesday painted a bleak picture of the nation's economy, saying the chances of a recession are 50-50, "at best."

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> Oil Extends Decline on Economy Worries (01/10/2008)
NEW YORK - Oil futures skidded lower Thursday on growing concerns that a U.S. economic slowdown is imminent and will depress demand.

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> Corzine plans major toll hike to pay debt (01/09/2008)
TRENTON - Years of fiscal gimmicks have left state government under a crushing debt burden with more problems to come, a stern Gov. Jon S. Corzine warned Tuesday in his State of the State speech. more...

> FINANCIAL NEWS: Poorer countries to offset US slowdown (01/09/2008)
Continued robust expansion in developing countries will help offset a slowdown in the United States this year amid concerns of a possible recession in the world's largest economy and oil prices will gradually decline, the World Bank today reported. more...

> Bush keeps eye on economy's health (01/09/2008)
WASHINGTON -- President Bush said yesterday he is watching very carefully to see if the struggling U.S. economy needs a short-term boost from the federal government.

more...

> Control of state's three toll roads would shift under Corzine proposal (01/08/2008)
Governor Corzine's plan to raise highway tolls to pay down state debt could turn over control of the state's toll roads to a public benefits corporation for the next 75 years.

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> Bush says economy will cope with crisis (01/08/2008)
CHICAGO -- President Bush said yesterday economic indicators are "increasingly mixed," causing anxiety for many Americans. But he said the economy is resilient and the country has dealt with anxiety before.

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> Economy may force fast action (01/07/2008)
WASHINGTON Ordinarily, voters might not expect much productivity out of a Republican White House and a Democratic Congress in a tough election year.

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> N.J.'s economic outlook bright in coming months (01/04/2008)
New Jersey likely will see moderate economic growth through this summer, the Federal Reserve Bank of Philadelphia forecast yesterday, citing a recent drop in unemployment claims.

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> Markets are mixed after labor report (12/08/2007)
Wall Street paused from its big rally yesterday, with stocks closing narrowly mixed after the government's November labor report showed tepid job growth as well as a pickup in inflation. The major indexes ended the week higher, with the Dow Jones industrials having gained nearly 900 points over nine trading days.

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> Job market's health is in stable condition (12/08/2007)
WASHINGTON -- Employers added a modest 94,000 jobs to their payrolls in November, the unemployment rate held steady at 4.7 percent and wages grew briskly, encouraging signs the nation's employment climate is holding up in the face of turbulence in the housing and credit markets.

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> Labor report sees spike in worker productivity (12/06/2007)
Worker productivity roared ahead at the fastest pace in four years in the summer while wage pressures dropped sharply.

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> State Budgets Are Feeling Pressure (12/05/2007)
States' spending and revenue will continue to rise this year, but problems in the housing market and other economic pressures will slow that rate of growth from last year's levels, says a new survey from the National Governors Association and National Association of State Budget Officials.

more...

> Government Appeals 'No-Match' Injunction (12/05/2007)
The U.S. Dept. of Justice Dec. 4 filed an appeal to a federal district court's injunction against the Dept. of Homeland Security's "no-match rule," firing the latest salvo in a battle between the government and business and labor groups.

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> Bernanke says US economy likely to slow (11/08/2007)
WASHINGTON (AP) -- Federal Reserve Chairman Ben Bernanke said Thursday that a host of economic problems, including the severe housing slump, will cause business growth to slow noticeably in coming months.

more...

> Jobless claims down for last week (11/08/2007)
WASHINGTON (AP) -- The number of laid-off workers filing claims for unemployment benefits dropped last week to the lowest level in a month, even though wildfires added to the unemployment rolls in California. more...

> State economy shows cracks in its armor (10/19/2007)
New Jersey's work force should keep growing slowly, and there's no recession on the horizon, but the housing slump and "subprime" mortgage crisis could rattle the state's large and wealthy economy for many months to come. more...

> Economic index predicts slow growth (10/19/2007)
NEW YORK — A gauge of future economic activity edged higher in September, suggesting the economy may trudge forward at a modest pace despite a worsening housing slump.

more...

> PATH to expand capacity by 20 percent (10/18/2007)
The Port Authority will spend nearly $400 million to expand the capacity of its PATH system by 20 percent. more...

> State added 4,900 jobs last month (10/18/2007)
New Jersey added 4,900 jobs in September, prompting economists to express optimism about the health of the job market. more...

> Fed finds slower economic growth (10/18/2007)
WASHINGTON -- The economy logged slower growth in the early fall as troubles in the housing and credit markets weighed on companies and individuals alike, the Federal Reserve reported yesterday.

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> Job growth steady in New Jersey (10/18/2007)
New Jersey's unemployment rate held steady at 4.3 percent in September as employers added 4,900 workers to their payrolls, bringing total job growth to 17,700 so far this year, the state Department of Labor and Workforce Development reported yesterday.

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> Port Authority set to approve $400 million PATH investment (10/18/2007)
The PATH rail system will receive a nearly $400 million signal-system upgrade to help increase capacity 20 percent by 2014, officials said yesterday.

Commissioners for the Port Authority of New York and New Jersey, which operates the system, plan to pass a resolution today authorizing the expenditure.
more...

> Analysis Says N.J. Benefits Least from Federal Taxing and Spending (10/10/2007)
New Jersey is the most shortchanged state when it comes to federal taxing and spending, according to the Tax Foundation's latest annual analysis of federal taxing and spending patterns. more...

> Many flee N.J., a study shows (10/10/2007)
It could be over the high cost of living or just better opportunities elsewhere, but a new study confirmed what New Jersey residents and officials have thought for some time: Residents are fleeing the Garden State and it's making a dent in the economy.

more...

> Jerseyans leave at alarming rate (10/10/2007)
Residents are leaving New Jersey at three times the rate they were just five years ago, a trend that is already doing real damage to the state's economy and budget coffers, a new Rutgers University report shows. more...

> Economy is more of a concern, survey finds (10/10/2007)
A growing number of people say the economy is the nation's top problem, with the less educated among the most worried, an Associated Press-Ipsos poll showed yesterday.

more...

> Jobs data assuage recession fears (10/06/2007)
Fears the country could slide into a recession eased last month as employers created the most jobs in four months and workers' wages grew solidly. The unemployment rate crept up to 4.7 percent, the highest in more than a year but still low by historical standards.

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> Reports paint bleak picture (10/02/2007)
Worries about jobs and the economy flared in September, driving a key barometer of consumer sentiment to its lowest level in nearly two years, a private research group said yesterday.

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> Dollar's current doldrums something to worry about (09/26/2007)
The markets and Washington may be nonchalant about the tumbling dollar, but the rest of us can't afford to be.

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> Senate Clears $23-Billion WRDA, But Veto Threatened (09/25/2007)
The Senate has approved legislation that authorizes $23 billion for Army Corps of Engineers river locks and dams, harbor dredging and environmental restoration work around the country and also mandates independent reviews of large Corps projects. But the White House has threatened a veto of the measure, contending that it is too costly. more...

> State is No. 46 in the growth of personal income (09/21/2007)
TRENTON (AP) -- New Jersey ranked 46th in the rate of personal income growth in the second quarter of this year, according to U.S. Department of Commerce data released Thursday.
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> Mass layoffs declined in August (09/21/2007)
Mass layoffs across the nation in August declined compared to July as did associated initial filings for unemployment compensation, the federal Bureau of Labor Statistics said today. more...

> Dollar tumbles worldwide (09/21/2007)
Thanks to a sinking U.S. dollar and soaring commodities prices that benefit resources-rich Canada, that country's currency as of Thursday can be exchanged 1-for-1 with the greenback for the first time in more than 30 years.

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> State adds jobs, pares unemployment (09/20/2007)
New Jersey employers added 500 jobs in August, or 15,500 for the first eight months of the year, while the unemployment rate fell to 4.3 percent, from 4.6 percent in July, the state Department of Labor and Workforce development announced yesterday.

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> NJDOT gives Mercer $2.8M for upgrades (09/14/2007)
Mercer County will receive more than $2.8 million from the state Department of Transportation to fund street improvement, rehabilitation and safety projects, it was announced yesterday.