A new survey from the Rutgers-Eagleton and SSRS Garden State Panel reveals an economic paradox across New Jersey: while residents share the rest of the nation’s bleak outlook on the macro-economy, they feel notably more optimistic about their own personal finances and employment.
However, beneath this surface resilience lies a stark “tale of two New Jerseys,” with extreme financial burdens concentrating heavily among younger adults, Black and Hispanic residents, and lower-income households.
According to the statewide probability-based poll, New Jerseyans view the broader economic landscape much like Americans nationwide. Fifty-eight percent of state residents rate the U.S. economy as “bad” or “very bad” (nearly matching the 57% national figure), while 53% give the national job market a negative review compared to 49% across the U.S.
Yet, personal outlooks break sharply from that gloom. Nearly half of New Jerseyans—48%—rate their personal financial situation positively, and 52% feel good about their employment situation. These figures outpace national averages, where 40% feel good about personal finances and 46% about employment.
“The story emerging from these data is one of cautious resilience,” Jenny Berg, SSRS vice president and director of the Economic Attitudes Tracker, said. “New Jerseyans are as dissatisfied as the rest of the country with the national economy and job market, yet many feel they are faring better personally.”
To navigate ongoing financial pressures, New Jersey residents are aggressively shifting habits, frequently outpacing national averages. Nearly three in four (73%) report attempting to cut utility bills in the three months preceding the survey—well above the 64% national rate.
Additionally, 61% have altered their grocery purchases to stay within budget, and 60% have cut back on extras and entertainment. Notably, New Jerseyans are slightly less likely than the broader U.S. population to postpone health care appointments (27% versus 31%).
Despite signs of personal optimism, the survey exposes deep demographic divides regarding who bears the brunt of economic strain.
- Age divide: Adults aged 18 to 34 experience significantly higher stress than older generations. Over a third (36%) of young adults rate their finances negatively—compared to just 10% of seniors aged 65 and older. Young adults are also vastly more likely to curtail essentials, with 71% changing grocery habits and 46% delaying medical care.
- Racial disparities: Black and Hispanic residents report the deepest strain statewide. Seventy-eight percent of Black residents view the national economy negatively, and 45% rate their personal finances poorly. Up to 91% of Black residents and 84% of Hispanic residents have cut back on entertainment, with roughly 80% altering grocery buying habits.
- Income gradient: Financial pressure scales directly with household income. Among households earning under $50,000, 45% rate their finances poorly—compared to just 6% of those earning $150,000 or more. Half of lower-income residents (50%) have postponed medical care, contrasted with only 16% of high-income earners.
“This is the all-too-familiar and unfortunate tale of two New Jerseys,” Ashley Koning, director of the Eagleton Center for Public Interest Polling at Rutgers-New Brunswick, said. “The state’s youngest, Black and Hispanic and lower-income residents are carrying far more of the strain, cutting back on groceries, bills and even health care at rates their older, white and wealthier neighbors simply are not.”
Methodology
The findings are based on a statewide poll of 1,006 New Jersey adults conducted via the Rutgers-Eagleton/SSRS Garden State Panel between June 25 and June 29. The survey carries a margin of error of +/- 4.1 percentage points.
