Right now there are more job openings than there are unemployed people. The reasons? Some are afraid to go back to work because of COVID-19 exposure, others have trouble finding child care. Stockton University Finance Professor Michael Busler said that staying unemployed has also been a good economic decision for many, because of the federal government’s added pandemic-related payment on top of unemployment compensation from the state. But on Monday, Gov. Phil Murphy announced he would not extend the federal unemployment assistance program, which is set to expire on Sept. 4.
Michele Siekerka, president and CEO of the New Jersey Business & Industry Association, said she hopes the ending of the additional benefits will convince people to return to work, and in turn prevent short-staffed businesses from making cuts, or having to close for good.