November NJ unemployment figures are out today. And Gov. Christie, who’s as slick at re-packaging his slow economic recovery as Jersey Comeback as he is hyping up his disappointing Sandy recovery as a TV ad opportunity for himself, will spin it with the usual bombast.
But check this. US=blue. NJ=black. Track it long-term. We’re still not doing well under Christie. Quote of the Day, from NJPP’s Gordon MacInnes, below.
“It’s certainly good news that New Jersey’s unemployment rate dropped to 7.8 percent, but there’s no reason to jump for joy as our state’s economy remains very weak. New Jersey’s recovery is tepid and far behind the rest of the nation; we’ve regained only 59 percent of the jobs we lost in the Great Recession (neighboring New York, by comparison, has regained 150 percent). Worse, this November drop in the unemployment rate is largely attributable to the fact that 30,600 New Jerseyans gave up looking for work and dropped out of the labor force last month – we now have the fewest residents actively looking for work that we’ve had since December 2008, not exactly the sign of a thriving, healthy economy.”
Gordon MacInnes, NJ Policy Perspective
NJ’s jobless rate fell to 7.8%. But the national rate is still well below – at 7.0%. With Christie as governor, New Jersey’s consistently had the highest unemployment rate in the region (one of the highest in U.S.) despite all that Jersey Comeback hoopla of his. This week Moody’s downgraded NJ’s credit outlook due to our “sluggish” economic recovery. But what are a few piffling little facts compared to Chris Christie’s star-making machinery?