United States Congress Joint Economic Committee

New Jersey

July 2020

Labor Market (BLS/Haver)
Most Recent Prior Month 12 Mo. Prior
New Jersey Unemployment (U-3) 15.2% 16.3% 3.3%
U.S. Official Rate (U-3) 3.5% 3.5% 3.9%
U.S. "Real" Rate (U-6) 6.7% 6.9% 7.6%
New Jersey Labor Force Participation Rate 63.9% 63.4% 63.1%
U.S. Labor Force Participation Rate 60.8% 60.2% 62.9%
Prices (BLS/Haver, AAA)
Most Recent Prior Month 12 Mo. Prior
CPI-U Inflation 0.1% 0.3% 1.8%
"Core" CPI Inflation 1.2% 1.4% 2.0%
National Gas/gal. Updated 7/2/20 12:00 AM $2.18 $1.98 $2.73
New Jersey Gas/gal. $2.16 $2.03 $2.81
Northeast Region: Loaf of Bread $1.23 $1.19 $1.15
Northeast Region: Ground Beef/lb. $3.85 $3.74 $4.16
Economic Growth (BEA, WSJ/Haver)
U.S. Real GDP
Q1/2020 (3rd Estimate)
-5.0%
NJ Real GDP
Q3/2019
2.3%
S&P 500 (YTD)
-6.86% Updated 6/28/20 5:00 AM
Minimum Wage (DOL/WHD)
National Hourly Rate
$7.25
NJ Hourly Rate
$11.00
Last Generated: 7/2/20 10:05 AM