Economic & Recovery News Release: 6/13/2022

June 13, 2022
 
Content Curated By Scott Goldstein
 
 INSIDE TODAY'S UPDATE
 
  • Step 1 in N.J.’s post-pandemic recovery: Invest in a business community that was ravaged by COVID-19.
 
  • Small businesses got battered by COVID-19. At least protect them from tax hikes. 
 
  • FDA: The Pfizer COVID-19 vaccine shot appears effective for kids under 5.
 
Step 1 in N.J.’s Post-Pandemic Recovery: Invest in a Business Community that was Ravaged by COVID-19
"New Jersey’s business community was ravaged by the COVID-19 lockdown," wrote N.J. Chamber of Commerce President Tom Bracken. "Most businesses are still dealing with the fallout, despite federal aid and $850 million in state grants. New Jersey leaders need to look again at every way possible to help businesses." Read the full op-ed. (ROI-NJ)
 
They Got Battered by COVID-19. At Least Protect Small Businesses from Tax Hikes. (Editorial in nj.com)
An automatic tax hike is about to hit New Jersey businesses just as most economists are predicting a downturn, and inflation recently rose to a 40-year-high of 8.6%. A bill sponsored by Assembly Majority Leader Lou Greenwald and other Democrats proposes tax credits to small and mid-size companies to offset any tax hikes so the state can replenish its unemployment insurance fund without forcing employers to take the hit. Read full editorial. (nj.com)
 
Hot Inflation Dims Likelihood Fed Can Achieve a ‘Soft Landing’
With the Federal Reserve set to announce another sharp interest rate hike after it meets this week, days after the government issued a scorching inflation report, the likelihood that the central bank can engineer a so-called “soft landing” appears to be dimming. (The Associated Press)
 
Should You Force Employees to Take Paid Time Off?
Companies can enforce mandatory PTO in a few ways. They can require each employee to take off a certain amount of time consecutively each year. This could be one week, five days off intermittently, or one day off per month. Businesses can also set deadlines for employees to use their PTO. This can be on a monthly, quarterly, seasonal, or annual basis. The pro and cons of mandatory time off. (U.S. Chamber of Commerce)
 
FDA: The Pfizer COVID-19 Vaccine Shot Appears Effective for Kids Under 5
The FDA posted its analysis of the shot ahead of a Wednesday meeting where outside experts will vote on whether the shots are ready for 18 million babies, toddlers and preschoolers. If regulators clear the shots by one or both companies, vaccinations could begin as soon as next week with the drugmakers ready to rapidly ship doses ordered by the government. (The Associated Press)
 
N.J. Subcontracting Opportunities
Meet the Prime Contractors of the New Jersey Wind Port Project
Are you a New Jersey-based small-, women-, minority-, veteran- or disabled-owned business interested in being part of the state's offshore wind supply chain? Join a Zoom webinar on June 14 presented by the NJEDA to connect with prime contractors about services, trades and general construction needed at the New Jersey Wind Port. (N.J. Economic Development Authority)
 
N.J. Chamber's Diversity, Equity and Inclusion Webinar Series
June 15: Strategies to Support a Diverse Workforce
This conversation will offer recommendations to help build a talent pipeline, expand diversity and retain employees in a competitive market. For more information and to register for this free webinar on June 15, click here. (N.J. Chamber of Commerce)
 
Join the N.J. Chamber's Drive for Equality: Sign Up for Our 'Supplier Diversity Collaborative' and Work Towards Real Change
By signing your company's name to the N.J. Chamber's 'Supplier Diversity Collaborative,' you will strengthen the business community’s commitment to hiring a diverse group of suppliers and contractors. Expanding a commitment to working with New Jersey's minority-, women- and veteran-owned businesses is good for business on many levels. More information here. (N.J. Chamber of Commerce)
 
Looking to Get Vaccinated? Here's an Easy Way to Find COVID-19 Vaccines Near You.
Just punch in your area code. You can even search for a specific vaccine. (vaccines.gov)
 
Were you forwarded this newsletter? For more information about the N.J. Chamber, email [email protected]
 
Business Resources
 
Reopening Playbook for Employers (U.S. Chamber of Commerce)
 
Vaccine Guide for Businesses (U.S. Chamber of Commerce)
 
 
Guide to Starting a Business in N.J. (New Jersey Business Action Center)
 
 
Jobs and Hiring Portal Job Seekers | Employers (State of N.J.)
 
 
The Best Tool for Your Business - Membership in the N.J. Chamber
 
The N.J. Chamber provides members with guest speakers, webinars, networking opportunities and discount programs that help businesses grow. The N.J. Chamber also advocates for pro-growth and pro-business legislation.
 
 
You are welcome to share this newsletter via email, social media or on your organization's website. Please credit the New Jersey Chamber of Commerce with a link to http://njchamber.com.
 
The New Jersey Chamber of Commerce is staying on top of pandemic and economic recovery developments. For news media requests, please email Scott Goldstein.
 
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New Jersey Chamber of Commerce | 216 West State StreetTrenton, NJ 08608