Rising costs for housing, food and clothing all contributed to another increase in inflation. The government’s February inflation report, released Tuesday, showed consumer prices are up 6% in the past 12 months. That means inflation is still elevated, but is coming down from the higher levels of last year. One reason for that is a big drop in energy prices.
In the latest high-profile corporate layoff announcement, Meta, the parent company of Facebook, announced plans to lay off another 10,000 workers on top of the 11,000 workers it cut a few months ago. But in New Jersey at least, the job market continues to hold up. In fact, the Garden State experienced higher job growth in the past two years than first reported. Updated data from the federal government shows more than 395,000 new jobs were created in New Jersey in the past two years, 34,000 more than originally estimated.
The state will soon begin accepting grant applications from companies and other groups seeking to provide apprenticeships for New Jersey workers. Some $4 million is available through the GAINS grant program, which funds apprenticeships in non-traditional fields.
A who’s who of business, nonprofit and government leaders are gathering in Atlantic City for the ReNew Jersey Business Summit. Hosted by the State Chamber of Commerce, the event draws several hundred attendees to discuss the outlook for New Jersey businesses and the economy.
