From NJB Magazine:
Unemployment continues to mount in the Garden State, with 28,063 new claims filed for the week ending July 25, marking an 8.8% increase when compared to the week prior to that, according to the New Jersey Department of Labor and Workforce Development (LWD).
The cumulative total of unemployment claims filed in New Jersey since March 15 is now 1,441,936, out of an entire statewide nonfarm workforce of approximately 4.2 million.
At least some of these 1.44 million individuals have returned to work since initially filing for benefits. Meanwhile, the United States Bureau of Labor Statistics reported on July 17 that for the month of June, New Jersey had an unemployment rate of 16.6%.
Some experts are concerned that as unemployment continues to rise, demand for goods and services may decrease, potentially further imperiling the economy and potentially creating even more unemployment.
Food banks have additionally seen a spike in demand, with Gov. Phil Murphy this month directing $20 million in federal CARES Act funding towards these entities (in two phases) for the remainder of 2020.
Feeding America projects a 56% increase in New Jersey’s food insecurity rate in the coming months as a result of the coronavirus pandemic, and The Community Food Bank of New Jersey’s President and CEO Carlos M. Rodriguez said at a July 9 event that this translates into 432,000 state residents.