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Economist says ‘enormous’ N.J.-vs.-U.S. economic gap widening

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Economist says ‘enormous’ N.J.-vs.-U.S. economic gap widening

DECEMBER 17, 2014    LAST UPDATED: WEDNESDAY, DECEMBER 17, 2014, 1:21 AM
BY HUGH R. MORLEY
STAFF WRITER |
THE RECORD

* Gap between state, U.S. job gains widens, Rutgers economist says

New Jersey’s employment problems may be structural, because of factors that include the decline of key industries and the shift away from suburban corporate campuses, and are unlikely to dramatically improve even as the national economic picture brightens, Rutgers University economists said Tuesday.

The gap between the national job-creation performance and New Jersey’s is actually widening, as the national jobs market strengthens and New Jersey’s flounders, said Nancy Mantell, director of the Rutgers Economic Advisory Service, which compiles an economic forecast for the state.

Mantell’s comments, made in New Brunswick at the economic forum organized by R/ECON every six months, offered a dose of grim reality to the hopes that New Jersey’s economy would bounce back as the nation’s does.

The R/ECON predictions came as New Jersey prepares to release the employment figures for November on Thursday. The state lost 4,500 jobs in October, and the jobless rate of 6.6 percent remains above the national rate of 5.8 percent.

https://www.northjersey.com/news/business/slow-n-j-recovery-seen-1.1159092

5 thoughts on “Economist says ‘enormous’ N.J.-vs.-U.S. economic gap widening

  1. Do not worry our governor who is hardly ever hear will make it better, all will get a pair of rose colored glasses like he has.


  2. Anonymous:

    Do not worry our governor who is hardly ever hear will make it better, all will get a pair of rose colored glasses like he has.

    Damn right! This State was fantastic before he took over.
    [In case you are a bit dim-witted, which is likely based upon your spelling ability, this is meant as sarcasm].

  3. Our Governor is doing the best he can with the legislature that is CONTROLLED BY DEMOCRATS.
    Hear that?
    BTW, the gov is HERE plenty.


  4. Anonymous:


    Anonymous:

    Do not worry our governor who is hardly ever hear will make it better, all will get a pair of rose colored glasses like he has.

    Damn right! This State was fantastic before he took over. Never said state was better before our absentee governor took over it just has not improved.
    [In case you are a bit dim-witted, which is likely based upon your spelling ability, this is meant as sarcasm].

  5. Yeah, when the Senate Budget Committee Chair is Senator Sanzari, I mean Sarlo, who wants to tax us all more to fund the corrupt Transportation Fund, in addition to cutting income taxes on NJ public pensions, what hope does the state have? We already owe $133B in unfunded future pension and healthcare benefits, or 4+ years worth of our entire annual state budget. We’ve hit the iceberg, and the Titanic is taking on water. Articles like the one above only remind those of us who have the option to abandon ship.

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