When it comes to making ends meet, more of us are falling behind as the rate of inflation is surpassing growth in worker wages. The federal government says that over the past 12 months inflation rose 6.2%, the highest level in 30 years. Wages, as measured by the Employment Cost Index, are growing just slightly above 4%. Food costs are rising, especially for meat and other proteins. There’s been a huge jump in gas prices — nearly 50%; clothing and shelter costs are higher too. And there’s been a big bump up in the price of used cars.
Lawmakers are looking to change the way New Jersey forecasts its annual tax collections — this after the Murphy administration last year borrowed $4 billion over fears of a revenue shortfall that never came to pass. A bill passed by a Senate committee calls for budgeting reforms, including mandating multi-year spending projections.
A court victory for New Brunswick-based Johnson & Johnson: The Supreme Court of Oklahoma overturned a $465 million opioid ruling against Johnson & Johnson, saying the company can’t be held liable for the state’s opioid crisis. In response, Johnson & Johnson said its actions related to the marketing and promotion of prescription opioid medications were appropriate and responsible.
Lemonade stands run by kids in New Jersey are now officially legal. Under a bill signed this week by Gov. Phil Murphy, children are allowed to temporarily run a business without needing a municipal permit.
