CVS raises minimum wage for workers to $11, credits Trump tax cuts

CVS will raise the minimum wage for its workers to $11 an hour beginning in April, matching a move made by Target in the fall and Walmart in January. Citing tax savings created by the Tax Cuts and Jobs Act, the company said it will also adjust pay ranges and rates for many retail pharmacy technicians,… Read the rest of this entry »

Posted: February 11th, 2018 | Author: | Filed under: Donald Trump, Economy, News | Tags: , , , , , | 4 Comments »

Trump reaches deal with Carrier to stop factory jobs from moving to Mexico

assetcontent-76WASHINGTON – Air conditioning company Carrier Corp. says it has reached a deal with President-elect Donald Trump to keep nearly 1,000 jobs in Indiana. Trump and Vice President-elect Mike Pence plan to travel to the state Thursday to unveil the agreement alongside company officials. Trump confirmed the meeting on Twitter late Tuesday, promising a “Great deal… Read the rest of this entry »

Posted: November 30th, 2016 | Author: | Filed under: Donald Trump, Economy, News | Tags: , , , | 1 Comment »

N.J. could be in big trouble if another recession hit

assetContentTRENTON — A new study cast doubts on whether New Jersey can withstand another economic downturn. It’s the second such study this year to find that the state, which has lagged behind the rest of the nation in recovering from the Great Recession, is particularly vulnerable and unprepared for yet another. New Jersey is among 10… Read the rest of this entry »

Posted: August 14th, 2016 | Author: | Filed under: Economy, New Jersey State Budget | Tags: , , , | Comments Off on N.J. could be in big trouble if another recession hit

Goldman Sachs to pay $5 billion for its role in housing bubble

assetContentGoldman Sachs has agreed to pay more than $5 billion to settle charges it sold mortgages it knew were likely to fail during the housing bubble heydays of 2005-2007, the U.S. Justice Department announced today. Of that settlement, $1.8 billion has been set aside to help consumers harmed by the practice – with most of it… Read the rest of this entry »

Posted: April 11th, 2016 | Author: | Filed under: Economy | Tags: , , | Comments Off on Goldman Sachs to pay $5 billion for its role in housing bubble

N.J. has worst business tax climate in U.S., study finds

assetContent (20)TRENTON — New Jersey’s high property and income taxes contribute to its standing as the nation’s least attractive tax climate for businesses, according to a Washington tax policy group’s annual ranking of the 50 states. The Tax Foundation, a public policy group that has two former Republican lawmakers on its board of directors, considered five metrics,… Read the rest of this entry »

Posted: November 19th, 2015 | Author: | Filed under: Economy, New Jersey, Taxes | Tags: , , | 1 Comment »

Record number of N.J. residents living in poverty, study finds

assetContent (15)More New Jersey residents are in poverty now than in the past five decades and the outlook for the future is bleak in a state that boasts being one of the wealthiest in the nation, according to a report released Sunday. The findings in the study done for Legal Services of New Jersey paint a grim… Read the rest of this entry »

Posted: November 15th, 2015 | Author: | Filed under: Economy, New Jersey | Tags: , , | 2 Comments »

Most N.J. workers anxious about being able to afford retirement, poll shows

assetContentTRENTON — Nearly all New Jersey residents age 35 and older say they hope to retire one day, but two-thirds are anxious about saving enough money so they could afford it, according to a poll released Thursday by AARP. AARP, the influential lobby for people 50 and older, is championing a solution for the roughly 1.7… Read the rest of this entry »

Posted: September 10th, 2015 | Author: | Filed under: Economy, New Jersey | Tags: , , | 3 Comments »

N.J. lost 26,100 jobs in June and July but the unemployment rate fell

Spring Job Fair at Brookdale Community College, April 2014. file photo

Spring Job Fair at Brookdale Community College, April 2014. file photo

TRENTON — New Jersey lost nearly 14,000 jobs in July, with the largest employment declines posted in leisure and hospitality and professional and business services, according to new labor data released on Thursday. The state’s unemployment rate, which is measured by a different federal survey, decreased to 5.9 percent, down from 6.1 percent in June and… Read the rest of this entry »

Posted: August 21st, 2015 | Author: | Filed under: Economy, Monmouth County News, New Jersey, News | Tags: , , , , | Comments Off on N.J. lost 26,100 jobs in June and July but the unemployment rate fell

Tesla Loses $4,000 on Every Car Sold

TeslaThe Silicon Valley automaker is losing more than $4,000 on every Model S electric sedan it sells, using its reckoning of operating losses, and it burned $359 million in cash last quarter in a bull market for luxury vehicles. The company on Wednesday cut its production targets for this year and next. Chief Executive Elon Musk… Read the rest of this entry »

Posted: August 10th, 2015 | Author: | Filed under: Economy | Tags: , , | Comments Off on Tesla Loses $4,000 on Every Car Sold

How long before gas prices hit the $2 mark?

Nun Pumping GasClose the doors, because the gas price elevator is going down, again. How long will it take before the $2 a gallon mark is hit. It may not be that long, especially if gas stations decide to have a price war to move product, said Jeff Pelton, senior oil analyst for Gas Buddy.com “Expectation into next… Read the rest of this entry »

Posted: August 10th, 2015 | Author: | Filed under: Economy, Monmouth County News | Tags: , | Comments Off on How long before gas prices hit the $2 mark?