Number of the Day: 2.7

November 4, 2011 | Number of The Day

There were 2.7 times as many people unemployed in 2010 than in 2000, according to a report by the left-leaning think tank New Jersey Policy Perspective. After doing an analysis of Bureau of Labor Statistics data, the group decided to label the last 10 years “The Lost Decade,” because by many metrics, New Jerseyans are worse off than in 2000. The report states that in 2010 unemployment was 425,700 as compared with 157,500 in 2000.

And while employment is beginning to crawl upwards, the report notes that it’s not necessarily in high-paying jobs. Manufacturing has shrunk every single year since 1989 and has accelerated since 2007 from an average rate of a 4.2 percent decline each year to 6.1 percent a year. Government jobs are also on the decline since 2009.

What is growing since the official end of the recession is retail, leisure and hospitality, professional business services, and healthcare. The healthcare sector was the only sector that actually increased in jobs during the recession and it has continued to increase at a fast clip.