Gov. Chris Christie says New Jersey's unemployment insurance trust fund has achieved a balance of $1 billion.

Unemployment Rate
Alex Wong, Getty Images
loading...

Speaking Tuesday at J.P. Morgan in Jersey City, Christie said his administration's anti-fraud reforms have allowed the state's employers to avoid paying about $200 million in taxes.

The Republican governor says the state's labor department used a number of tools to build up the fund and reduce fraud, including a national directory of new hires and software to detect fraudulent unemployment claims from overseas.

The administration says the trust fund had a peak deficit of $2.1 billion when Christie came into office but moved into positive territory in 2014.

New Jersey businesses faced about $200 million in more taxes in January 2014 under the Federal Unemployment Tax Act.

(Copyright 2016 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)