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What is wrong with New Jersey ???

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April 26, 2012 – Comments (4) | RELATED TICKERS: DIA , QQQ , SPY

April 20th, 2012  |  by Jon Whiten

 New Jersey lost 8,600 jobs in March and the state’s stubbornly high unemployment rate held steady at 9.0 percent, according to numbers released Thursday by the Department of Labor and Workforce Development. It was one of only eight states in the country to lose jobs in March, and the drop of 8,600 was the second-largest decline next to Ohio, which lost 9,500 jobs, according to the federal Bureau of Labor Statistics.

The monthly job loss was the first New Jersey has seen in six months, giving further pause to the political mantra that a “New Jersey Comeback” has infected the state’s economy.

Meanwhile, unlike many other states, New Jersey’s unemployment rate can’t seem to fall back under 9 percent, a point it has been at or above since June 2009. The Garden State’s unemployment rate is now the sixth highest of all the states, and it is much higher than our neighbors in New York (8.5 percent), Connecticut (7.7 percent) and Pennsylvania (7.5 percent).

New Jersey’s rate remains well above than the national average, which was 8.2 percent in March. It has also dropped much less the national rate, having fallen by just 0.3 percent since March 2011, compared to a decrease of 0.7 percent for the U.S. as a whole.

 

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4 Comments – Post Your Own

#1) On April 26, 2012 at 3:56 PM, materialsman92 (34.98) wrote:

probably bc of its high taxes

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#2) On April 29, 2012 at 3:08 PM, Mega (99.96) wrote:

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#3) On April 30, 2012 at 12:54 AM, materialsman92 (34.98) wrote:

^ haha i like :)

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#4) On April 30, 2012 at 1:05 AM, Acesnyper (< 20) wrote:

Labor laws, other laws, taxes.

 My fiancee's father is having nightmares trying to legally be a doctor there, he's only been one for 30 years in PA. ( A stones throw border state for the geographiclly challenged).

 Also knowing a few NJ residents, they will fight you tooth and nail then charge you and fight it again if you try to get a reassement of your prop, for taxation. A lot of shore houses lost 500k+ but it's years and a nice car to fight it, on already insane prop taxes. 

 Sadly I wish I was making this up. I'm really only going of family, so I can't picture what else is happening and factoring there are a few million people there, not just the handful I know.

 But since I'm ranting, a co worker of mine's daughter is a retired NJ State trooper. Left early because of back injuries taken because of the job, she can not get a gun permit. While some people have different veiws on this subject, it just goes to show this state is a mess. 3 months ago she was given a machine gun by the state.

 Ok, rant over. For now. 

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