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· December 11, 2013, 3:38 PM ET
New Jersey Adds Jobs in 2013, But Still Trails Other States
New Jersey Governor Chris Christie talks with Notre Dame fans prior to the game on Nov. 23.
New Jersey is on pace to add more jobs than last year — but its recovery from the recession continues to trail the rest of the nation, a new report found.
New Jersey has recovered slightly more than half of the jobs it lost since the low point of the recession for employment in New Jersey which hit in 2010, according to a Rutgers University report released Wednesday. That’s compared to an average of 83% of the jobs that have been recovered in the U.S.
“The state’s economic outlook is improving in some respects, but generally, it trails the nation’s,” said Nancy Mantell, an economist at Rutgers.
New Jersey’s economic record has come under increasing scrutiny since speculation has grown that Gov. Chris Christie may make a bid for president in 2016. When asked about the state’s recovery last month, Mr. Christie said he inherited a bad economy from the previous administration and fixing it will continue into his second term.
“It’s going to take us longer because we were in the deepest of deep holes in a state that had followed a liberal, Democrat doctrine for a decade,” Mr. Christie said at The Wall Street Journal’s CEO Council. “I do expect us to continue to be more competitive.”
New Jersey’s unemployment rate has fallen from an average of 9.5% last year to 8.3% in October, a sign that the state is starting to recover, Rutgers found. But some of the decrease has come from people dropping out of the labor market.
The higher cost of living and doing business in New Jersey has contributed to the state’s relative slump, as has a shift from industrial to service jobs in the state, Ms. Mantell said.
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Unemployment In The Us
Length: 2 pages (568 Words)
Unemployment is an important topic in economics nowadays. What is unemployment? Why is unemployment rampant? Is it a permanent problem? Unemployment is the situation that involves a person being unable to produce, or earn a living. The problem of unemployment is very rampant and spread in the world. However, many factors play to make the problems stay.