Business owners along the shore are frustrated over state restrictions that prevent them from opening for Memorial Day weekend. Other small businesses are finding even with PPP loans, they’re facing difficulties paying rent and other expenses.
New Jersey’s unemployment rate surged to 15.3% in April as COVID-19 devastated the economy. New Jersey’s rate is higher than the national average. Meantime, more than 42,000 more New Jersey workers have filed for first time unemployment claims in the latest week.
Many unemployed workers have benefited from the additional $600 a week in payments available under an expanded payout that was approved by Congress. But that may not continue. Media reports say Senate Majority Leader Mitch McConnell doesn’t want Congress to reallocate any more money for expanded benefits once the current program runs out.