TRENTON, N.J. — New Jersey’s economic condition remains vulnerable as Phil Murphy wraps up his first full year in office according to a new analysis from Garden State Initiative.
GSI reported on Friday that New Jersey still hasn’t replaced losses from 2017 and early 2018 notwithstanding the state workforce posting modest gains – 5,200 in October 2018. The state’s weak condition persists in spite of robust economic growth nationally. Since 2015, the U.S. economy writ-large has added 5 million jobs while New Jersey lost 50,000.
“Any month where the state added jobs and expanded the workforce is a good month for the economy,” said GSI President Regina M. Egea. “But New Jersey is still in a vulnerable position compared to its neighbors and the national economy.
The full report can be viewed here.