NJ Spotlight published the following article on 7/25/2014. To read the full article, click here.
Analysis: New Jersey’s Economic Woes Go Far Beyond Casino Closings
While the United States is in the middle of a solid economic expansion that has restored all of the jobs lost during the Great Recession, New Jersey has regained just 55 percent of the private-sector jobs lost, and time may be running out for a “full metal jacket recovery,” a top Rutgers University economist warned yesterday.
In fact, the 122,300 jobs New Jersey has regained over the past 4 ½ years is actually more than the 77,500 jobs the state added during the anemic 2003-2007 recovery – a “lost decade” that demonstrates the underlying weakness of the state’s economy, James W. Hughes, dean of Rutgers Edward J. Bloustein School of Planning and Public Policy, told an economic roundtable convened by Assembly Republican leaders.
There are actually 97,000 fewer New Jerseyans working today than there were at the beginning of 2001, and that’s just the beginning of the bad news…
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