N.J. hits $20 billion in unemployment benefits

New Jersey has paid out $20 billion in unemployment benefits since the outbreak of COVID-19 in March, the state Department of Labor and Workforce Development announced on Thursday.

More than 1.8 million New Jerseyans have applied for wage replacement benefits since the middle of March, with average benefits exceeding $14,000.

“When we began the year at almost full employment, it was unfathomable we would be nearing year’s end having given out more than $20 billion in unemployment benefits to workers in need,” Labor Commissioner Robert Asaro-Angelo said. “We are now getting ready to distribute additional aid and are hopeful Congress will act.”

Included in the $20 billion are state payments and federal benefits that were authorized under the CARES Act.  Unless Congress approves a new stimulus bill, that fund will expire on December 26.

The labor department said that they received 16,368 new unemployment applications, down just 3.8% from the prior week.