Contact Us
Make My Homepage

Continued Slow Growth Forecast for NJ [AUDIO]

A new economic forecast from Rutgers University contains both good and bad news for New Jersey.

Audio clip: Adobe Flash Player (version 9 or above) is required to play this audio clip. Download the latest version here. You also need to have JavaScript enabled in your browser.

A ''Now Hiring'' sign
Joe Raedle, Getty Images

The good news, according to the Rutgers Economic Advisory Service, is that the state will add more than 130,000 jobs in the next three years, and 234,000 in the next 10 years.

“The state is still adding jobs,” said James Hughes, dean of the Edward J. Bloustein School of Planning and Public Policy at Rutgers, who acknowledged the impact the tough winter had on the statewide job market. “It’s been slow, particularly in the past six months, but I think there’s a brighter outlook.”

Hughes said that out-migration to other states unfortunately continues to put a drag on some key development here at home. He also said, when you develop with stores and shopping centers and recreation venues, you need a growing and diverse population to make all of that work, and “we’re not getting that demographically-driven component of economic growth.”

Back on the plus side, Hughes said data centers, warehousing and rental housing activity are standouts.

“We do have some very hot economic sectors, and they are the three most prominent,” he said.

The forecast predicts New Jersey will retain its position as a high-income state. That’s good for trade and real estate, but not so good for companies seeking low-wage compensation.

Best of NJ101.5

Recommended For You

Best of the Web

Leave a Comment

It appears that you already have an account created within our VIP network of sites on . To keep your personal information safe, we need to verify that it's really you. To activate your account, please confirm your password. When you have confirmed your password, you will be able to log in through Facebook on both sites.

Forgot your password?

*Please note that your prizes and activities will not be shared between programs within our VIP network.

It appears that you already have an account on this site associated with . To connect your existing account just click on the account activation button below. You will maintain your existing VIP profile. After you do this, you will be able to always log in to using your original account information.

*Please note that your prizes and activities will not be shared between programs within our VIP network.

Please fill out the information below to help us provide you a better experience.

(Forgot your password?)

Not a member? Sign up here

Sign up for New Jersey Insiders quickly by connecting your Facebook account. It's just as secure and no password to remember!

Sign up to have exclusive New Jersey Insiders contests, events, coupons, presales, and much more delivered to you for FREE.