BUSINESS REPORT

More NJ small businesses get federal loans

BY Rhonda Schaffler, Correspondent |

More than 90,000 New Jersey small businesses received funding in the second round of the Small Businesses Administration’s PPP loan program. That compares to just 33,000 in the first round. Loan amounts are smaller which is a sign that small businesses are receiving them. There was a lot of criticism with the first funding round as some loans went to big businesses.

State lawmakers are pushing the Murphy administration to do more to get hundreds of thousands of backlogged unemployment claims processed. They want the governor to provide additional employees and resources to the labor department. Some lawmakers also want the state to reopen in-person unemployment offices. Meantime, the Department of Labor has launched a chat feature on its website to try to answer general unemployment-related questions.

Your grocery bill is higher than it was before COVID-19. A government report out Tuesday showed that in April, food prices had their biggest monthly jump since 1974. That’s partly due to an increase in meat prices as processing plants closed.