A weekly newsletter for all things business in
New Jersey
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New Jersey Labor Market Ended 2024 on Steady Note
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January 23, 2025
TRENTON – Preliminary labor market estimates for December, produced by the U.S. Bureau of Labor Statistics, indicated a steady New Jersey labor market. The state’s unemployment rate remained at 4.6 percent, while total nonfarm employment increased by 7,200 jobs to reach a seasonally adjusted level of 4,396,600 jobs.
Revised estimates of total nonfarm employment in November saw a downward revision of 2,200 jobs, resulting in a monthly gain of 900 from October to November. The state’s unemployment rate for November remained unchanged at 4.6 percent.
In December, six out of nine private industries recorded employment gains compared to November. Sectors that recorded employment gains include professional and business services (+3,900), education and health services (+2,600), leisure and hospitality (+1,300), trade, transportation, and utilities (+900), other services (+600), and financial activities (+200). Sectors that recorded job losses include construction (-2,100), and manufacturing (-500). The information sector recorded no change over the month. The public sector added 400 jobs for December.
Click Here To View The NJ Employment Situation Highlights: December 2024
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The Business Blog of CIANJ
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Executive Order Ends Affirmative Action Requirements for Federal Contractors and Subcontractors
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Written By:
Kenneth A. Rosenberg
Partner
Fox Rothschild
President Donald Trump issued an Executive Order (EO) on Jan. 22, 2025 revoking several previous executive orders, including one that prohibited federal contractors and subcontractors from discriminating in employment based upon race, color, religion, sex, sexual orientation, gender identity or national origin and that required them to take affirmative action to ensure equal opportunity in all aspects of employment
One of the orders it revokes, EO 11246, was originally issued by President Lyndon B. Johnson in 1965, establishing the requirement that certain federal contractors and subcontractors establish affirmative action programs.
As a result, not only is affirmative action no longer required, but the federal government will consider it to be illegal.
The new EO, titled “Ending Illegal Discrimination and Restoring Merit-Based Opportunity,” says federal contractors “may” continue to comply with the “regulatory scheme” currently in place for up to 90 days. However, the Office of Federal Contract Compliance Programs (OFCCP), which is responsible for enforcing affirmative action, must immediately cease:
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NJ hits a solar energy milestone
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New Jersey has reached the milestone of five gigawatts of installed solar energy, enough to power 700,000 households in the Garden State, according to the state Board of Public Utilities.
This more than doubles the state’s solar energy output since 2017 when Gov. Phil Murphy took office. The BPU also said 2024 was a big year for solar, with nearly 400 megawatts of solar capacity installed. That puts New Jersey on track to install 7,500 gigawatts of solar capacity by next year.
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Costco won't join DEI backlash. Why shareholders rejected anti-'woke' proposal.
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Costco shareholders voted down an investor proposal from a conservative think tank that urged management to investigate the business risks of its diversity initiatives.
More than 98% of shares voted against the proposal, according to preliminary results announced by Costco chairman Hamilton “Tony” James. He and other board members had asked shareholders to reject the proposal involving the company's diversity, equity and inclusion policies ahead of Thursday's annual meeting.
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JetBlue adds Venmo as payment option
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You can now book JetBlue flights using a popular payment app.
The airline announced on Tuesday it is now accepting Venmo.
You can use Venmo to pay on JetBlue’s website, airline officials say.
The payment option will be added to the JetBlue app in the coming months.
JetBlue says the Venmo option is a first for airlines.
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Which industries are most vulnerable to Trump's immigration crackdown?
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In one of his first acts after returning to the Oval Office this week, President Trump tasked federal agencies with developing ways to potentially ease prices for U.S. consumers. But experts warn that his administration's crackdown on immigration could both drive up inflation as well as hurt a range of businesses by shrinking the nation's workforce.
"A reduction in labor supply means upward pressure on wages, which has different sector implications including inflationary pressure, especially for food prices," Stephen Brown, deputy chief North America economist with Capital Economics, told CBS MoneyWatch.
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U.S. NEWS AND WORLD REPORT RANKS BERKELEY COLLEGE AS A TOP ONLINE COLLEGE FOR 12TH CONSECUTIVE YEAR
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For the 12th consecutive year, U.S. News & World Report has ranked Berkeley College among the Best Colleges in the nation for Online Bachelor’s Degree Programs. The ranking also recognizes Berkeley College among the Best Online Bachelor’s Degree Programs for Veterans and in the category Best Online Bachelor’s Degree Programs – Business. The Berkeley College Master of Business Administration (MBA) in Management program is included on the list of Best Online MBA Programs.
“At Berkeley College, our focus is always to support our students and to help them succeed,” said Diane Recinos, EdD, President of Berkeley College. “Being recognized by U.S. News & World Report again is an honor that reflects the hard work of our faculty and staff and the dedication of our students.”
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The DAK Group Strengthens Deal Team with Key Analyst Additions
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Ridgewood, NJ, January 21, 2024 - The DAK Group, a boutique investment bank specializing in mergers, acquisitions and business succession planning for middle-market companies, has announced the addition of two new Investment Banking Analysts, Anusha Kaushik and Cecilia Zhou to its team.
Kaushik and Zhou will contribute to the firm’s Deal Team, where they will be responsible for developing comprehensive deal materials, performing detailed financial analysis, and supporting the transaction process.
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NAI James E. Hanson Negotiates $33.25M Industrial Outdoor Storage Sale in South Plainfield, N.J.
Deal is Oliver Street Capital’s largest IOS acquisition in N.J.
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South Plainfield, N.J. (January 21, 2025) – NAI James E. Hanson, the largest New Jersey-based full-service independent commercial real estate firm, has negotiated the $33.25M sale of an 8.84-acre industrial outdoor storage (IOS) site at 115 St. Nicholas Avenue/115 Skyline Drive in South Plainfield, N.J. Scott Perkins, SIOR, Christopher Todd, SIOR and William Ericksen represented the buyers Oliver Street Capital and Bain Capital Real Estate in the transaction with Trans American Trucking Services.
115 St. Nicholas Avenue/115 Skyline Drive is located just off Exit 5 on Interstate 287 with ideal accessibility to the New Jersey Turnpike and Garden State Parkway. Beyond offering superior regional connectivity, South Plainfield’s favorable zoning makes the property an ideal industrial outdoor storage investment.
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Loopwell hosts author Dr. Ethan Kross’ book launch, "Shift", to help people master their emotions.
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Montclair, NJ – January 21, 2025 – The Loopwell Library Author Series is excited to host renowned psychologist, neuroscientist, and award-winning professor, Dr. Ethan Kross, for the launch of his new book, Shift. The evening will feature an intimate fireside chat with Dr. Kross, moderated by bestselling author Susan Cain. Attendees will explore evidence-based strategies for mastering emotional well-being and learn how to harness their emotions for personal growth, decision-making, and success.
Dr. Kross has spoken at TEDx, and been interviewed on CBS Evening News, Good Morning America, and NPR’s Morning Edition, in addition to having his research featured in the New York Times, The Wall Street Journal, The New Yorker, and the New England Journal of Medicine and Science.
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CSG Law Announces 2025 Litigation Chair & Practice Group Leaders
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Chiesa Shahinian & Giantomasi PC (CSG Law) is pleased to announce that three attorneys, Danielle M. Corcione, Marisa Rauchway, and Mauro G. Tucci Jr., have respectively been elevated to the leadership of the firm’s Litigation Group as Chair and Practice Group Leaders.
“Danielle has demonstrated extraordinary leadership and judgment from the moment she joined CSG Law”, said Jeff Chiesa and Frank Giantomasi, Co-Chairs of the firm’s Executive Committee. “She is already a critical member of our Executive Committee, and we are very confident that she will bring those same qualities to her role as co-chair of the litigation department with Adam Derman and Matt Beck.”
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John Rosero Named Senior Vice President and General Counsel at Delta Dental of New Jersey and Connecticut
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PARSIPPANY, N.J. — January 22, 2025 – Delta Dental of New Jersey and Connecticut (DDNJCT) has announced the appointment of John Rosero as Senior Vice President and General Counsel. Rosero, who assumed this leadership role late last month, will oversee the organization’s legal and compliance functions and Delta Dental’s government affairs operations.
“John brings a wealth of experience navigating complex regulatory landscapes to the organization and strategic vision to our growth and innovation strategies. His distinguished track record in legal and transformation leadership, combined with expertise in compliance, risk management, and corporate governance within the insurance industry, will be a critical asset to Delta Dental,” said Paul Di Maio, President and CEO of DDNJCT. “His leadership will be instrumental as we grow and advance our mission of promoting oral health and well-being through high-quality and accessible dental and vision benefit solutions.”
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U.S. Immigration Compliance and Strategies in the Trump Era: What HR Professionals Need To Know
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Tuesday, January 28th, 2025 9:00 AM - 10:00 AM
Zoom
To register, click here.
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Members Only Event: EBC January Roundtable Meeting
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Wednesday, January 29th, 2025, 8:00 AM - 9:30 AM
Connell Foley LLP
56 Livingston Avenue
Roseland, NJ 07068 United States
To register, click here.
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2025 Real Estate Forecast and Legislative Update
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Friday, January 31st, 2025, 8:30 AM - 10:30 AM
Bergen Community College - Lyndhurst Campus
1280 Wall St.
Lyndhurst, NJ
To register, click here.
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A Conversation with NJDEP Commissioner Shawn LaTourette!
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Tuesday, February 4th, 2025, 9:00 AM - 10:00 AM
Zoom
To register, click here.
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New Date!
CIANJ & Garden State Initiative's Economic Policy Outlook for 2025 - Economist Stephen Moore
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Thursday, March 6th, 2025 8:30 AM - 10:30 AM
Park Avenue Club
184 Park Ave
Florham Park, NJ
To register, click here.
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Environmental Innovation Awards 2025
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Tuesday, April 22nd, 2025, 9:00 AM - 11:00 AM
Nanina's In The Park
540 Mill Street
Belleville, NJ
To register, click here.
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