New Jersey needs to add 120,000 jobs a year over the next three years just to get back to pre-recession levels and to keep up with population growth. This is according to New Jersey Policy Perspective, a liberal-leaning think tank. In fact, New Jersey had 1,800 fewer jobs in November 2016 than it did at the start of the Great Recession in December 2007.
The number of jobs added in the Garden State during the past 12 months came nowhere near 120,000, with only 21,400 being created. Amplifying concerns about the state’s economic well-being is that its rate of job growth since December 2007 measures -0.04 percent. The corresponding national rate is 4.9 percent and the rate for the northeast region is 3.8 percent.