July 2, 2020 - COVID-19 Update

 7/2/2020 11:36 AM

Unemployment payments in New Jersey exceed $9 billion during the pandemic. Jersey Shore rentals bounce back in June. New Rutgers president addresses pandemic, global reckoning on race, and life on campus.

Unemployment Payments to New Jersey Workers Exceed $9 Billion – State and federal unemployment benefits to New Jersey workers have surpassed $9 billion since mid-March, when businesses and schools abruptly shut down, the state Labor Department announced today. A bit of good news: Last week, the state received nearly 28,000 initial unemployment claims – a 15 percent decrease from the prior week. The total number of new claims climbed to 1.3 million in the past 15 weeks. Of those who have applied, 1.1 million have met the earnings requirements to receive benefits. 

The Jersey Shore is Back – Shore rentals in New Jersey bounced back in June after many renters had canceled leases in March and April. By June, those properties were re-rented in a week to 10 days, said one real estate broker. A major factor was the state lifting COVID-19 beach and boardwalk restrictions, real estate brokers said. (nj.com)

The Paycheck Protection Program Is Not Dead – Congress approved extending the Paycheck Protection Program (PPP) that provides low-interest loans to businesses affected by the pandemic. The loans are forgiven if the business keeps their employees on the payroll. If President Trump signs the extension legislation, the program, scheduled to have ended June 30, would be extended to Aug. 8. The program still has $134 billion available to hand out in loans. (nj.com) 

Budget Cuts? Budget Shifts? Who Knows? – New Jersey’s Republican lawmakers are frustrated by what they are calling a lack of transparency about 'de-appropriations' in the state budget. Even Senate Democratic Leader Loretta Weinberg joined Republicans in calling out the difficulty in getting info on budget cuts and funding shifts. (NJ Spotlight) 

R.U. Ready? – Jonathan Holloway, in his opening act as Rutgers University president, addressed the pandemic and the global reckoning on race. The university’s 21st leader also announced a $10 million campaign, along with a personal contribution, to establish the Scarlet Promise Grants program, which aims to provide financial support for the university’s most economically at-risk students. (ROI-NJ) 

Buy From New Jersey Businesses – To promote the New Jersey Chamber of Commerce's ‘Buy NJ’ campaign, put this 'postcard' on your website and share it on social media with the hashtags #BuyNJ and #BuyLocalNJ.

Get Counted – New Jersey residents can respond to the 2020 Census to ensure the state gets its fair share of federal funding. The Census provides valuable data for businesses, including population trends, growth projections and demographic information. Spread the word! Respond to the Census.

 

N.J. Coronavirus Cases - New Jersey Residents
(Source: N.J. Health Department)

Total Confirmed Deaths Reported: 13,224, up from 13,181 yesterday.
Total Positive COVID-19 Tests Reported: 171,928, up from 171,667 yesterday.
For data on hospitalizations and discharges, click here.

 

* Resources from NJ Chamber of Commerce