NJ Economy Warning: Private Sector Job Losses and Middle Class Cost Crisis
Key Questions
How many private sector job losses has New Jersey seen in 2026?
Over 7,600 layoffs have been announced so far, with June additions from companies like Optum and Merck.
What major companies are leaving or cutting jobs in New Jersey?
Samsung is relocating its headquarters to Texas, eliminating 1,000 jobs, while Verizon, Novartis, and others have announced cuts.
What changes are coming to New Jersey's FMLA law?
The employee threshold for coverage drops from 50 to 15 starting July 2026, affecting more small businesses.
What is the status of housing inventory in New Jersey despite new construction?
Inventory remains tight even with 180,000 new homes planned, contributing to ongoing affordability pressures for the middle class.
What other economic measures are advancing in the legislature?
A new child tax credit bill and an advanced nuclear energy bill cleared committee amid concerns over store and bank closures.
Net private sector job losses mounting: over 7,600 layoffs in 2026, with June adding Optum and Merck cuts. Store and bank closures surge. Samsung moving HQ to Texas confirmed (1,000 jobs). NJ FMLA law changes drop employee threshold from 50 to 15. Housing inventory tight despite 180k new homes. New child tax credit bill. Advanced nuclear energy bill cleared committee.