Amid ongoing concerns about the strength of the U.S. economy, New Jersey is at least in better fiscal shape, according to one Wall Street credit rating agency. Late last week, citing the state’s management of its reserve funds and long-term liabilities, Moody’s upgraded New Jersey’s outlook to positive. New Jersey now has a positive outlook from all of the major credit rating agencies. Gov. Phil Murphy says the state must continue to improve its fiscal health, adding that the state is now better prepared to weather uncertain economic conditions.
New Jersey is now home to 120,000 Hispanic-owned businesses, which are helping to fuel the state’s overall economic growth. This group of entrepreneurs is opening new businesses at a faster rate than other groups. But in corporate America, the gains are lagging. It’s something Carlos Medina, president and CEO of the Statewide Hispanic Chamber of Commerce of New Jersey. is working to change. This is not just a New Jersey issue. Hispanic representation on boards of Fortune 500 companies was less than 1% last year, according to a new report from the Hispanic Association on Corporate Responsibility.
With teachers in short supply, one school district has turned to retired educators to fill open spots. Earlier this year a new law was enacted that allows districts to hire retirees to fill critical-need jobs while those teachers continue to collect their pensions. In Newark, 26 retired teachers are back in the classroom, with more to follow in the next few weeks. To sweeten the pot, Newark is paying those teachers an annual salary of $92,000.
