The New Jersey Business & Industry Association said last week’s report from the state Department of Labor and Workforce Development indicating that New Jersey added approximately 64,500 private-sector jobs last year is more than just some good news.
It’s potentially a game-changer, according to NJBIA President Michele Siekerka
“Growth in New Jersey’s private sector is accelerating,” Siekerka said. “Job growth is reaching the point where it not only shows confidence in the economy, but also feeds confidence in the economy. There can be no mistake that we have game-changing job growth now.”
The state contends that last week’s data point to 2015 being the strongest year for private-sector job growth in the last 15 years.
“New Jersey rings out the old year on a very high note, capping a year of the strongest job growth in 15 years and a sustained period since 2010 of the most robust private sector job growth since the turn of the century,” state Department of the Treasury Chief Economist James Wooster added last week.
Furthermore, new BLS data released Tuesday indicates that New Jersey’s unemployment rate, currently at 5.1 percent, saw one of the largest drops in the nation over the past year.