New Jersey is still waiting to hear from the Federal Emergency Management Agency to find out whether some unemployed workers will be eligible for an additional $300 in weekly benefits under the Lost Wages Supplemental Assistance program. The agency has asked the state to submit some additional information in its grant request. If New Jersey’s application is approved, unemployed workers who qualify should receive the funds in October, according to the state labor department.
The number of newly unemployed workers filing claims in New Jersey held steady in the past week, at 20,176. Nationally, fewer people filed new claims, and the number of people staying on unemployment also fell, as workers returned to their jobs.
Number crunchers around the state have some issues with the new fiscal budget proposed by the Murphy administration. In a survey of nearly 900 certified public accountants, more than 60% oppose the idea of borrowing money or raising taxes to fill a revenue gap. Members of the New Jersey Society of Certified Public Accountants say they favor cost-cutting measures instead.
After several days of trading at record highs, the stock market experienced a sharp selloff, led by a retreat in technology stocks.