NJ Breaks Own Employment Record

New Jersey’s economy continues to build on – and surpass – its recent, record-breaking success, Governor James E. McGreevey announced Friday.

The Garden State now has 4,061,000 jobs – more than ever before in State history. The State’s unemployment rate, meanwhile, has been lower than the Nation’s for 17 consecutive months. Those facts can be found in the State’s employment statistics for September, released today by the Department of Labor and Workforce Development.

The numbers show New Jersey created 12,000 jobs in September, and 68,800 during the past 12 months.

New Jersey has regained 100 percent of jobs lost during the National recession, and added 37,100 more jobs. The Nation as a whole, meanwhile, has regained only 65 percent of the jobs it lost to the recession.

“This is another great day for New Jersey’s workers, entrepreneurs and employers. It is a great day for everyone who cares about our State economy – and everyone who is proud to see New Jersey lead the Nation out of recession and into recovery,” Governor McGreevey said.

“Our State’s unparalleled success comes from a number of factors: Our highly skilled workforce; our wonderful economic resources; and the wise investments State government has made in incentives like BEIP, which helps businesses meet their goals, and in initiatives to make the best possible training available to every worker,” the Governor continued.

The State’s unemployment rate is 4.8 percent – 1.0 percent below New Jersey’s unemployment rate a year ago. The National unemployment rate is 5.4 percent.

“Even the experts share our optimism. On October 5, the Federal Reserve Bank of Philadelphia predicted New Jersey’s economy will grow by 3.5 percent over the next nine months, for an annual growth rate of 4.7 percent. All in all, we are truly building a better New Jersey,” the Governor said.

Article continues below

---

advertisement

---

Author: Press Release-Micah Rasmussen