Massive layoffs were both a cause and a symptom of the recent recession, but job creation began to revive late last year. Unfortunately, in May, the U.S. added only 58,000 jobs, and layoffs may be on the rise again. This time, they're taking a particular toll on state and local government workers.
As wages and benefits shrink, state workers are retiring in droves. On top of all the layoffs, these retirements amount to a huge brain drain, and the problem will only get worse given the yawning budget gaps of states from coast to coast.
The markets may have had a rough weak as U.S. GDP growth was revised down and Middle East unrest caused oil prices to rise, but the consumer sentiment index rose to its highest level since January 2008. Sentiment has risen for about six months -- an encouraging sign -- but oil prices could sour the mood.
New Jersey Gov. Chris Christie has made autism services a priority in his proposed budget for the 2012 fiscal year. But some services may still suffer cuts: nonprofit Autism NJ says it's set to lose a state contract -- and Medicaid cuts also could reduce autism services, activists say.
Common sense suggests that as home prices decline, the property taxes based on their valuations ought to as well. But even as house prices continue to slip, property taxes nationally are clicking higher.
