New Jersey’s economy continues to add jobs, and the state says 90% of all the jobs lost due to the pandemic have now been recovered. Job growth continued for the 15th straight month in February, and the unemployment rate dropped to 4.6%. Employers added about 26,000 jobs last month, with most of the gains coming from the trade, transportation and utilities sectors.
A New Jersey college that was at risk of shutting down has received a financial lifeline. Bloomfield College will receive financial support from Montclair State University, which will enable it to remain open through the 2022-2023 academic year. In the meantime, the two higher education institutions will work toward establishing a permanent relationship.
The Assembly budget committee wrapped up two days of hearings this week on the governor’s budget and next week the Senate budget committee will begin its hearings. NJ Spotlight’s John Reitmeyer says even with record state spending, advocates say the needs are great.
New Jersey’s last two coal-fired power plants will cease operations. Atlantic City Electric has reached an agreement with the operator of two South Jersey plants to stop burning coal as the utility continues to move toward providing clean energy. Atlantic City Electric says the move will save its customers $30 million through the end of 2024.
Finally, for the first time in nearly a month, the Russian stock market reopened for limited trading. Even with extensive sanctions on Russia, the stocks of some companies rallied today.
