Statement from New Jersey Policy Perspective president Gordon MacInnes:
“February’s jobs data confirms New Jersey’s slow, sideways crawl out of the recession. New Jersey lost 3,700 jobs according to the preliminary data, but the unemployment rate stayed put at 7.1 percent as 2,200 people dropped out of the labor force entirely. In the past year, 98,200 New Jerseyans have given up looking for work and left the labor force, even as the state has added just 4,600 jobs. Overall, the Garden State is better off than it was during the depths of the recession – but not by much, and our recovery continues to lag that of our neighbors. New Jersey has now recovered just 38 percent of the jobs it lost during the Great Recession. New York, by comparison, has recovered 122 percent, and Pennsylvania has recovered 81 percent.”
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