The most correct answer, as it often is, is "it depends." JPEG is a compressed format, and as such it saves a lot of space, and it also loses some quality every time it's saved. If you're going to do a very small amount of editing, JPEG is a great idea. It's also pretty much the universal format for display and printing, so you'll almost always end up with a finished product in jpeg format.
But raw contains more information - it is like a digital negative. If you're going to do more advanced work, raw is probably a good idea. And some things that are baked into jpeg - like white balance - and are fully adjustable in a raw file.
Most of the advanced photographers around here shoot raw, save in some intermediate format such as either Photoshop or similar, and eventually output in JPEG. But there are some who think that raw is a complete waste of time, and if they get the results they need, more power to them.
Note that a raw file - at least a Nikon DSLR raw file - always includes a JPEG, so you've always got the option of extracting that JPEG if you need it.
_____ Brian... a bicoastal Nikonian and Team Member
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