NJ Job Market ‘Stalled’ by Layoffs, Weak Hiring

September 15, 2025 | njspotlightnews.org

Good news is hard to find in the job market lately. The list of New Jersey firms dispensing pink slips by the dozens includes Big Pharma, as well as big finance and big retailers. And many workers in all kinds of jobs — from construction to manufacturing and fintech — are closely “hugging” their jobs, as the statistics worsen.

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NJ SEED: An economy going through transition always experiences disruptions in the labor market. Uncertainty over tariffs is also generating uncertainty in the market place. A Supreme Court decision is needed. Additionally, when the Federal Reserve Board gets around to cutting interest rates it is likely to free up capital and stimulate growth in the economy.