Unemployment numbers are heading in the right direction. For the first time since the pandemic struck New Jersey, new weekly claims for unemployment dipped below 10,000. In the latest week, just over 9,800 new claims were filed, a 5% drop from the previous week.
State labor commissioner Robert Asaro-Angelo says it’s a welcome sign, but he adds that too many workers are still reeling from the effects of the public health crisis and are anxiously awaiting the funding available from the new federal COVID-19 rescue package. That legislation extends the additional $300 a week in unemployment benefits, which were set to expire this weekend. The state labor department says unemployed workers should transition seamlessly to those new extended benefits, which will now run through early September.
As the legislation known as the American Rescue Plan rolls out, the New Jersey Society of CPAs says the IRS is expected to extend the April 15 tax filing deadline. The group is calling on New Jersey lawmakers to follow suit as quickly as possible. NJCPA says last year, the state extension wasn’t finalized until April 13, which it says caused chaos for New Jersey taxpayers and tax preparers.
Businesses are preparing for next week’s change in indoor capacity limits, now that Gov. Phil Murphy is upping the level to 50%. But several executives in the restaurant industry say the change won’t make much difference to their bottom lines, as social distancing rules will limit the ability to fill additional tables. New capacity limits go into effect a week from Friday.
WATCH: Business Report: Budget hearing, business funding, EDA grant program
