Business Report: COVID-19 relief funds, push to reopen unemployment offices, rise in NJ jobless claims

There are lots of suggestions for how NJ should spend its lastest round of COVID-relief funding

New Jersey is now sitting on more than $6 billion in new federal funds. The money is New Jersey’s share of the latest round of COVID-19-related relief funds. How that money gets spent is up for debate. Some of the ideas floating around include providing more aid to businesses and shoring up the state’s unemployment trust fund, which has been depleted due to the high number of workers forced to go on unemployment over the past year.

A state senator has introduced a bill requiring New Jersey’s One-Stop Career Centers to reopen immediately. Sen. Kristin Corrado (R-Passaic) says the state’s unemployment system continues to fail thousands of people who can’t get their claims resolved over the phone or online. She says that with new guidelines from the Centers for Disease Control and Prevention in place there’s no excuse for Gov. Phil Murphy not to reopen those offices.

New unemployment claims continue to rise in New Jersey. An advance report of initial unemployment claims filed last week rose by more than 30% in the state, according to federal data. The equivalent figure for the U.S. overall was a drop of 7.6%.

The deadline is fast approaching for restaurants to apply to a grant program offered by the Small Business Administration. The SBA’s Restaurant Revitalization Fund will stop accepting applications on Monday. Funding of $6 billion has already been handed out to 38,000 restaurants across the country.

WATCH: Business Report: Unemployment rate, shortage of health care workers, more COVID-19 relief grants

MORE: Business Report: Infrastructure bill, wind energy industry, cryptocurrency price swings

We’re in this together
For a better-informed future. Support our nonprofit newsroom.
Donate to NJ Spotlight