Earlier today on “The Judi & EJ Show” we spoke about any emergency savings you may have just in case you suddenly lost your job.  We referenced a WalletHub survey that said nearly one in five say they couldn't come up with $1,000 in cash within 24 hours.  And 64% say their income is the single biggest thing standing between them and a real financial safety net.  Then we learned that the 2026 layoffs in New Jersey are only getting worse.

We are barely three months into 2026 and New Jersey employers have already announced nearly 4,000 jobs on the chopping block. Nearly 2,000 in January. Another 1,847 in February. And the year is just getting started.

These are not abstract numbers. These are people with mortgages and car payments and kids in college. And in a state where the property tax bill alone can shake your confidence in your financial footing, a layoff notice is not just a career setback. It is a full-blown crisis.

The national picture is not helping. The United States shed 92,000 jobs in February when economists expected a gain. New Jersey's unemployment rate has been sitting at 5.4% since December, a full percentage point above the national rate. And in the first week of March alone, unemployment insurance claims in the state jumped by roughly 4,500.

SEE ALSO: Working hard, falling behind and wide awake at 3 A.M. - welcome to NJ in '26

The companies behind the cuts

The biggest single hit comes from Amazon, which filed a WARN notice expecting to cut more than 800 New Jersey jobs this year. Bergen County takes the hardest blow with 417 positions impacted, followed by Passaic County with 240, and Monmouth and Hudson counties absorbing another 204 between them. Amazon's explanation is the kind of corporate language that lands with a thud when you are the one holding the notice: reducing layers, removing bureaucracy, becoming leaner. The cuts are expected to take effect by April 28.

The financial sector is not immune either. JP Morgan Chase filed notice that 120 Jersey City jobs will be impacted by May. Citibank is cutting 141 employees on a rolling basis throughout the year. On the healthcare side, Bristol Myers Squibb in Lawrence Township will see 247 positions impacted, while Blue Cross Blue Shield and Cigna Evernorth Services are eliminating a combined 376 positions.

And if you work in retail, the list includes Macy's, Saks, Walmart, and Target.

What the experts are saying — and whether it adds up

Here is where it gets a little hard to swallow. Montclair State University economics professor Luis San Vicente Portes told NJ.com he is not particularly concerned. When asked directly if thousands of jobs being cut was worrying for the state's labor market, his response was essentially: not really. Too small relative to the big picture. Uh…ok.

Maybe he is right. The Rutgers University State Policy Lab projects just a 0.1% decline in the job market for 2026 with a rebound coming in 2027 and beyond. On paper, that sounds manageable. 

What this means for working New Jerseyans right now

But try telling that to the Amazon employee in Bergen County waiting to see if their role survives to April 28. Or the healthcare worker in Lawrence Township watching Bristol Myers restructure around them. The macro numbers may look stable from a university office. On the ground in New Jersey, where the cost of living allows almost no financial margin for error, a layoff does not feel like a 0.1% blip.

It feels like everything.

The hope is that the forecasts are right and 2027 brings the rebound they are promising. Until then, New Jersey workers are doing what they have always done. Holding on, watching the numbers, and hoping their name is not on the next notice.