Bubble Wrap

Job Losses Continue in New Jersey

Detailed in the monthly report prepared for NJBIZ ,New Jersey’s nonfarm employment decreased for the second straight month.

So, we are not off to a very positive start in 2008. Even though the nation’s job growth had already slowed significantly in 2007, New Jersey’s employment trajectory had virtually flat-lined, signaling far less economic momentum in the state compared to the nation as 2008 unfolded. With the United States now probably in recession, gauged by three straight months of private-sector employment decline, it appears that New Jersey’s economy will be in for a very tough struggle for the balance of 2008.