BUSINESS REPORT

No let up in residents filing for unemployment

BY Rhonda Schaffler, Correspondent |

Since the COVID-19 economic shutdown,  28 % of New Jersey’s current labor force has now filed for unemployment.  That includes more than 26,000 additional workers who filed in the latest week. The state’s unemployment rate now stands at 15.2%. 

Governor Murphy said today the overwhelming number of outstanding unemployment claims has been cleared. But unemployed workers could still be in for a financial shock in a few short weeks.  The extra $600 in weekly unemployment benefits, made available under the federal CARES Act, will end on July 31st, unless Congress votes to extend the program. The House has already done so, but the Senate has not.

 With continued financial uncertainty for so many residents, a new assistance program is underway in Camden County. New Jersey Shares has launched a program that aims to  prevent evictions and foreclosures, by providing needy residents with a one-time financial grant of up to $1,500.