Hiring is slowing, according to New Jersey-based ADP. U.S. companies added just 132,000 new jobs in August, which was below economists’ expectations; in July, companies hired twice that number. The ADP report, which was recently revamped to use a new methodology, also showed that annual worker pay increased 7.6% in August, which adds to worries about inflation. The federal government’s monthly report on jobs comes out Friday.
One struggling New Jersey-based retailer is slashing jobs and closing stores. Bed Bath & Beyond, which is headquartered in Union, plans to lay off 20% of its corporate and supply-chain staff. The retailer will also shutter 150 underperforming stores across the country. The company’s sales have slumped and its CEO left in late June. An interim CEO is in place as the retailer tries to navigate a way forward.
Hackensack Meridian Health is recruiting to fill open positions at its child-care centers, after reversing course and deciding to keep those facilities open. The health care company announced a plan to close its six child-care centers in July, but rescinded that decision after employees and parents objected. Officials say keeping those centers open will come at a cost, with tuition increases expected early next year.
The state is launching a New Asset Activation Planning Grant Program to help with community redevelopment, with the goal of repurposing vacant or underutilized public assets and property. Grant funding of up to $50,000 for studies and feasibility analyses will be available. Applications will be accepted through Oct. 24.
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