Friday Facts and Figures is a brief digital newsletter focusing on data points from NJPP reports, research, and policy debates in New Jersey and beyond.
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Not fleeing
Surprise, surprise – Millennials are not fleeing New Jersey. A new report by graduate students at the Bloustein School for Planning and Public Policy concludes that Millennials are leaving New Jersey at the same rate as young adults of previous generations. The outmigration of young adults in New Jersey is also comparable to that of other high-cost states. [Bloustein / Dr. Cliff Zukin, Ph.D. et al.]
First
New Jersey’s Millennials may not be fleeing the state, but they still face real barriers to economic stability. This is evidenced by New Jersey ranking first in the nation in percentage of young adults still living at home. New Jersey can invest in the future prosperity of Millennials with higher wages and renewed investments in higher education, transportation infrastructure, and affordable homes. [NJ Spotlight / Colleen O’Dea]
9.3 percent
New Jersey’s efforts to save the Affordable Care Act are paying off: health insurance rates on the individual market will drop 9.3 percent next year. How did this happen? New Jersey is the only state in the nation to enact a statewide individual mandate, reinsurance fund, and ban short-term “junk plans.” [NJTV / Brenda Flanagan]
$40,180
The wealthiest one percent of households – those with annual incomes over $836,000 – will receive an average tax cut of $40,180 under a new proposal by House Republicans. The new plan would permanently extend the individual tax cuts in last year’s federal tax overhaul and open loopholes for high-income earners to hide taxable income. A vote is expected later this month. [Center on Budget and Policy Priorities / Chuck Marr and Brendan Duke]
18.6 percent
When teenagers work they help their families pay the bills. Working teens in households making less than $50,083 per year contribute, on average, 18.6 percent of their family’s income. A $15 minimum wage would boost the take home pay of 107,000 teen workers in New Jersey, allowing them to save for college and help their families make ends meet. [NELP and NJPP]
ICYMI
Teen activists Matthew Skolar and Maria del Cielo Mendez call for a clean $15 minimum wage bill, without exemptions for teen workers, in an op-ed on NJ.com. Matthew and Maria write that they are not working to pay for candy, but to help their families pay the bills and save for college. [NJ.com / Matthew Skolar and Maria del Cielo Mendez]
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