Business Report: Unemployment rate, plant closing, Super Bowl bets

New Jersey is among 20 states that allow legal sports betting

The unemployment rate is heading lower; in January, the national jobless rate dropped to 6.3%. Unlike the data we saw from New Jersey-based ADP earlier this week, a new report from the federal government showed softer monthly job growth of just 49,000. And many businesses are still cutting jobs, including restaurants, hotels and stores. The airline industry is also bracing for more job losses. In the last few days, both United and American have indicated that, without additional federal aid, thousands of their workers may be furloughed.

Some 600 workers at a Nabisco plant in Fair Lawn could be losing their jobs in a few months. Mayor Kurt Peluso says he has been informed by Nabisco’s parent company that the plant will close in August or September. The mayor says he tried to persuade Nabisco to stay, but the company is consolidating several of its East Coast facilities.

It’s predicted that more legal bets will be placed on this Super Bowl than ever before. PlayUSA predicts more than $500 million will be wagered at online and retail sportsbooks. Twenty states, including New Jersey, now offer some sort of legal sports betting.