Economic & Recovery News Release: 7/14/2022

July 14, 2022
 
Content Curated By Scott Goldstein
 
 INSIDE TODAY'S UPDATE
 
  • A hopeful sign for the Fed on inflation: slower wage growth.
 
  • Wholesale inflation in June surged 11.3% from a year ago.
 
  • State health commissioner: ‘We can’t keep mandating,’ as new COVID-19 strain sweeps New Jersey.
 
 
A Hopeful Sign for the Fed on Inflation: Slower Wage Growth.
Salary increases have leveled off in recent months. That matters because if prices and wages keep pushing each other up, the Federal Reserve – already under tremendous strain to rein in inflation – might be forced to move even faster to ramp up interest rates, throwing people out of work and thrusting the economy into a painful recession. Instead, slower wage growth could help bring down prices and ultimately mean less sting for the average worker. (POLITICO)
 
Wholesale Inflation in June Surged 11.3% from a Year Ago
Inflation at the wholesale level climbed 11.3% in June compared with a year earlier, the latest painful reminder that inflation is running hot through the American economy. The Labor Department reported Thursday that the U.S. producer price index – which measures inflation before it hits consumers – rose at the fastest pace since hitting a record 11.6% in March. (The Associated Press)
 
Keeping a Close Eye on the New Mutants of COVID-19
The highly transmissible BA.5 variant now accounts for 65% of cases and its cousin BA.4 accounts for 16% of cases. They have an ability to get around the protection offered by infection and vaccination. Yet Americans have tossed off their masks and jumped back into travel and social gatherings. And they have largely ignored booster shots, which protect against COVID-19′s worst outcomes. (The Associated Press)
 
What to Know about the Fastest-Spreading New COVID-19 Strain
The omicron variant of COVID-19, known as BA.5, is both spreading fast and is highly transmissible. Here is what you need to know about this emerging sub-variant. (nj.com)
 
State Health Commissioner: ‘We Can’t Keep Mandating,’ as New Strain Sweeps New Jersey
Advice from the state’s top health official remains the same: Get vaccinated and boosted, wear a high-quality mask when indoors or in crowds outside, wash your hands and stay home when feeling sick. The onus is on individuals to protect themselves and their families. “Just be aware of who you are and who you interact with” and take appropriate precautions, said New Jersey health commissioner Judy Persichilli. “We can’t keep mandating, mandating, mandating” protections like mask use and vaccination, she said. (NJ Spotlight News)
 
Changes Coming to Jury Selection in New Jersey
Next time you’re selected as a juror in New Jersey, expect more questions, new videos on implicit bias, and maybe more money. To reduce bias in jury selection and expand the pool of prospective jurors, the state Supreme Court is adopting 25 changes to the selection process. (New Jersey Monitor)
 
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
 
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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