Prospect Park, NJ's Data
About Prospect Park, NJ's
Prospect Park is a borough in Passaic County, New Jersey, United States. It was incorporated on March 13, 1901, from portions of Manchester Township (now known as Haledon). Named after the famous Prospect Park in Brooklyn, New York, this small borough is part of the inner suburban ring of New York City. Despite its compact size, Prospect Park holds a rich history and a diverse community, reflecting the broader cultural mosaic of the northern New Jersey area.
City: Prospect Park
State: New Jersey
Country: United States
Population: 5,865
Number of Ongoing Class I Recalls: 0
Number of Ongoing Class II Recalls: 0
Number of Ongoing Class III Recalls: 0
Company With Most Recalls: No Recalls
Things To Do in Prospect Park, NJ
Hike: Here are a couple of local trails to check out!
Local Attractions in Prospect Park, NJ
Hofstra Park - A popular recreational area with sports facilities and a playground.
Northside Park - Offers walking paths and seasonal outdoor activities.
Prospect Park School No. 1 - Historic educational building and a centerpiece of the community.
Prospect Park Veteran's Memorial - A tribute to the borough's veterans, showcasing local history and dedication.
Annual Prospect Park Day - Celebrates the community with parades, food, and entertainment.
The Economy of Prospect Park, NJ
The economy of Prospect Park is primarily driven by small businesses, with a significant number of local retail shops and services that cater to the needs of its residents. The borough's proximity to major urban centers like Paterson and New York City further enhances employment opportunities for residents, who often commute to these larger cities for work. The local government also plays a role in the economy through community development initiatives aimed at improving infrastructure and quality of life.
Prospect Park, NJ Inflation
Understanding the BLS and Inflation in Prospect Park, NJ
The Bureau of Labor Statistics (BLS) is a government agency that collects and analyzes economic data across the U.S., including cities like Prospect Park, NJ. One of its key responsibilities is tracking inflation through the Consumer Price Index (CPI), which measures how the cost of everyday goods and services changes over time. Inflation can impact everything from housing prices to the cost of groceries, gas, and utilities across the area. By tracking inflation, the BLS helps people from Prospect Park, NJ understand how their purchasing power is affected and provides insights for businesses and policymakers.
What This Graph Represents
This graph shows inflation trends in Prospect Park, NJ using the CPI, highlighting how prices have changed over time. The x-axis represents time (months and years), while the y-axis represents price levels. If the graph moves upward, it means the cost of living is rising, which can affect everything from rent to gas prices. A flatter or downward trend suggests that inflation is stabilizing or decreasing. Keeping an eye on inflation is important for people from Prospect Park, NJ when budgeting for housing, wages, and daily expenses. You can hover over the graph to see exact values for each month and check the "Most Recently Updated" label to ensure you’re viewing the latest available data.
Company Recall Data in Prospect park, NJ
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