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The state unemployment rate was 3.1% in August 2022, and the increase since then marked a sign that rising interest rates and corporate downsizing took a toll on the New Jersey economy.
The wage curve [1] is the negative relationship between the levels of unemployment and wages that arises when these variables are expressed in local terms. According to David Blanchflower and Andrew Oswald (1994, p. 5), the wage curve summarizes the fact that "A worker who is employed in an area of high unemployment earns less than an identical individual who works in a region with low ...
Unemployment insurance is funded by both federal and state payroll taxes. In most states, employers pay state and federal unemployment taxes if: (1) they paid wages to employees totaling $1,500 or more in any quarter of a calendar year, or (2) they had at least one employee during any day of a week for 20 or more weeks in a calendar year, regardless of whether those weeks were consecutive.
Additionally, there are non-union unemployment funds. Usually, benefits require 26 weeks of 18 hours per week on average, and the unemployment benefit is 60% of the salary and lasts for 500 days. [25] When this is not available, Kela can pay either regular unemployment benefit or labour market subsidy benefits.
Robert Asaro-Angelo labor leader and commissioner of the New Jersey Department of Labor and Workforce Development at the daily briefing in Trenton NJ on 5/7/2020
New Jersey's latest unemployment rate is still a far cry from the 15.4% unemployment seen in May 2020 during the COVID-19 business closures, which itself was New Jersey's highest unemployment rate ...
Wages adjusted for inflation in the US from 1964 to 2004 Unemployment compared to wages. Wage data (e.g. median wages) for different occupations in the US can be found from the US Department of Labor Bureau of Labor Statistics, [5] broken down into subgroups (e.g. marketing managers, financial managers, etc.) [6] by state, [7] metropolitan areas, [8] and gender.
New Jersey’s beleaguered unemployment system has made strides since the jobless rate soared to its highest level in 40 years during the COVID-19 pandemic. But a report released Wednesday found ...