Tag Archive: job creation

Economics Christie Style

Dr. Charles Steindel, the State’s Chief Economist, titled his March report: “A Strong Start for the Year Gives Reason for Hope” He went on to point out, “The job numbers for January and February show the upward momentum that became evident in 2011 continues. A total of 17,500 jobs were created in New Jersey over the two months.”

Well Dr. Steindel, the State’s Labor Department just reported the data for March: there was a Total Private Job Loss of 11,600 and Government Job gain of  3,000. The net result was that 8,600 jobs were lost in March, substantially reducing the gains of January and February and reducing your “reason for hope.” Optimism is nice, but I guess it’s not for nothing that economics is sometimes called “a dismal science.”

Dr. Steindel in his March report went on to say, “The jobless rate was 9 percent in both January and February. Continued job growth at the recent pace will bring unemployment down.” It’s a good thing he did not predict when unemployment will go down because it remains at 9%.  

Following the more sobering March news Dr.Steindel has now issued a pollyannaish and vague prediction, “The majority of indicators suggest that New Jersey employment growth will continue over the long term, creating a stronger economy for everyone.” That’s nice to hear, but I wonder how long is “the long term,” and I see no sign that the Christie administration is truly concerned about “everyone.”

I guess we are witnessing economics Christie style.  

Fewer Jobs, Lower Wages & More Poverty: A Picture of New Jersey’s Economy After a ‘Lost Decade’

Jon Whiten is with New Jersey Policy Perspective (NJPP). – promoted by Rosi

Do you feel better off today than you did in 2000? Your job, your home, your retirement – do you feel more secure about all that? If you answered no, you are certainly not alone in the Garden State.

New Jersey’s economy in the 2000s did very little to improve the lives of working families across the state, despite income growth during the early part of the decade. As a result, many people are worse off today than they were as we entered the new century.

That’s the top-level message in the newest report by New Jersey Policy Perspective, which we released this morning.

More on New Jersey’s ‘lost decade’ after the fold.  

Make it in America

promoted by Rosi

I believe that creating jobs and helping the economy grow should be America’s top priority. Unfortunately, the Republicans in Congress don’t seem to agree. It’s been 205 days since Republicans took control of the House and in that time Speaker Boehner has not posted any legislation to help put America back to work. In fact, the Republicans have devoted themselves to budget cuts that hurt working families and to protecting tax cuts for the wealthy, tax breaks for Big Oil and tax loopholes for companies that send jobs overseas.

I am working with my Democratic colleagues to advance an economic plan we call “Make It In America.” This is a multi-part plan that help rebuild the manufacturing base in America with good jobs and companies that will contribute to long-term economic growth.

To highlight the Make It In America agenda I visited Seimens in Piscataway yesterday to showcase a manufacturing success story. Siemens has brought jobs back from China to a facility that combines manufacturing, Research and Development and marketing. Watch the video below to find out more about my trip to Seimens and the Make It In America agenda.

Why I voted against the debt bill

Thanks, Congressman. – promoted by Rosi

Washington has been consumed with a protracted and distracting debate that tied the need to raise the Nation’s debt limit to budget cuts. All reasonable people know that default was not an option. The failure of the country to pay its bills would have a catastrophic effect on the economy and on the lives of all Americans for years to come. This was a debate we shouldn’t have been having. Every day and every hour that was spent in this battle was time that wasn’t devoted to job creation or economic growth.

I voted against the deal that was made to end the crisis that paralyzed Congress and threatened the economy. A default had to be avoided, but this was not the best way to do it. First and foremost, the plan does nothing to create a single job and does nothing to aid the ailing economy. In fact, it could cause both immediate and long-term harm to the country’s economic well being and to our ability to pursue economic opportunities.

National Democrats and Republicans Follow Jon Corzine’s Lead on Tax Credits to Create Jobs

The New York Times is reporting Support Is Building for a Tax Credit to Help Hiring. This may be the rare example of an Obama policy that gets bipartisan support:

The idea of a tax credit for companies that create new jobs, something the federal government has not tried since the 1970s, is gaining support among economists and Washington officials grappling with the highest unemployment in a generation…

“There is a lot of traction for this kind of idea,” said Representative Eric Cantor of Virginia, the Republican whip. “If the White House will take the lead on this, I’m fairly positive it would be welcomed in a bipartisan fashion.”

This general idea should sound familiar, especially if you watched last night’s Decision 2009 event. What Eric Cantor is endorsing is what Jon Corzine has already proposed: tax credits for job creation

“We will provide $3,000 a person for each incremental full-time hire that is retained one year,” Corzine said during his 25-minute address, which outlined the details of the package. “Let me repeat – create a job, and we will send you a $3,000 check.”

When Obama said Jon Corzine helped develop a national recovery plan it was more true that we even knew.