Better by 2018? Not likely.

From NJ Spotlight:


Despite New Jersey’s solid year of job growth in 2016, a recent survey of the state’s certified public accountants suggests few of them believe economic conditions will improve much by next year.

The results of the survey, released yesterday by the New Jersey Society of Certified Public Accountants, indicated just under 25 percent of those who responded to the organization’s member poll predicted economic conditions will get better by 2018.

Instead, the overwhelming majority of the accountants who responded said they believe that conditions here will either stay the same or get worse, the survey found.

While New Jersey hasn’t had any setbacks to annual job growth since the recession officially ended in 2009, the state has been adding about 45,000 jobs each year, a pace that has lagged both the national recovery and the rate of growth experienced during the 1990s as New Jersey rebounded from a prior recession, according to figures tracked by Rutgers’ Bloustein School of Planning and Public Policy. But last year, the state added more than 60,000 private-sector jobs, its best showing since the recession ended.

In addition to the economic-outlook question, the accountants were also asked in the survey to list their top three recommendations for creating economic growth in New Jersey. Nearly 80 percent listed reducing property taxes among their top three. High property taxes have long been a key concern in New Jersey, and the latest data from the state Department of Community Affairs indicates the average property tax bill increased by nearly $200 in 2016 to $8,549.

Other top recommendations for stimulating growth in New Jersey revealed in the CPA survey were cutting income taxes and providing additional tax incentives to businesses.

Thomas said he’s now hoping that legislators, candidates and the general public will take a close look at the results of the survey, and give serious consideration to the issues raised by it as upcoming policy decisions are made in Trenton.

And while the group has no plans to take political positions or endorse any candidate, it is urging policymakers to adopt a long-term view as they take on the state’s biggest problems instead of enacting just short-term Band-Aids.

This entry was posted in Demographics, Economics, Employment, New Jersey Real Estate. Bookmark the permalink.

46 Responses to Better by 2018? Not likely.

  1. JJ fanboy says:


  2. Grab them by the puzzy says:

    JULY 6, 2017

    With the precarious condition of the century-old rail links between New York City and New Jersey threatening to disrupt lives for the rest of the summer, commuters may wonder what became of all the money that had been pledged for a new train tunnel under the Hudson River.

    Well, courtesy of Gov. Chris Christie of New Jersey, several million dollars of it have been used to provide heavily subsidized boat rides for a very small contingent of Jersey Shore residents like Tim Halligan. For more than three years, New Jersey has been paying nearly $95 a day for Mr. Halligan and each of his fellow passengers to commute to and from work in Jersey City or Hoboken.”

  3. Hillary's Cankles are ground zero for Zika virus says:

    Wow is that complete garbage Moana. The cancelling of the tunnel was probably the second best thing that CC did. He might not have had the best optics (very IN word), but he did do a ton more for Jersey and the all of his Dem predecessors. The property tax cap, binding arbitration cap, superintendent pay cap and forced concessions to the pensioners were all incredibly brave and necessary. He also probably saved NJ from footing the largest cost overrun bill the country would have ever seen and would have sent NJ into bankruptcy way sooner than the pension might have. Mark my words, you will wish CC was still in Trenton six months into Murphy’s purchased reign at the statehouse. No gubernatorial candidate before him ever owed so many for their blessing. He’s like Hillary with balls.

  4. Blue Ribbon Teacher says:

    The arc tunnel should have been cancelled. If anything, the federal government should pay for it. They make it rain on everything anyway. We send enough money to Washington from NJ anyway. That wasn’t going to happen because it would have then validated his decision. Maybe it will happen now with Trump in office. Bottom line, we couldn’t afford it.

    As far as CC goes, his record is pretty pathetic. His “victories” aren’t even victories. And it’s been pathetic as to how he always finds a way to not show up for work 8 years straight.

  5. Hillary's Cankles are ground zero for Zika virus says:

    I’ll take the bait. Name a single Corzine, or ManGravy victory?

  6. grim says:

    Jobs report blows away expectations. No comments?

  7. Hillary's Cankles are ground zero for Zika virus says:

    My stocks speak for themselves. :P

  8. The Original NJ ExPat says:

    I watched this free series of videos last weekend, I thought they were very well done (scroll down, they’re all free):

    My favorite takeaway was the “Y curve”, which indicates that P/E ratios can only inflate to very high levels in an environment of steady and low inflation. Both rising inflation and deflation push P/E ratios down to historical norms and lower.

  9. D-FENS says:


  10. Blue Ribbon Teacher says:

    Corzine managed to get 100 million funneled from the pension system into Lehman Bros days before it collapsed. I’m sure he was the winner on that play.

  11. D-FENS says:

    Can anyone name a good NJ Governor?

  12. Fast Eddie says:

    Jobs report:

    Thank you, President Trump!

  13. The Great Pumpkin says:

    I called this jobs recovery 5 years ago. It has nothing to do with Trump.

    Fast Eddie says:
    July 7, 2017 at 12:04 pm
    Jobs report:

    Thank you, President Trump!

  14. The Great Pumpkin says:

    Wage inflation is inevitable. Have to be getting very close to it.

    “While payrolls grew by more than analysts forecast and the unemployment rate barely ticked up from a 16-year low, worker pay rose a less-than-expected 2.5 percent in June from a year earlier. Separate figures on labor flows showed a record number of people found employment after joining the workforce, helping push up the participation rate.

    The entry of so many people is a sign that the labor market is still absorbing slack, supporting the views of both President Donald Trump — who has talked about the need to get millions of Americans into jobs — and Federal Reserve Chair Janet Yellen, who has mentioned the pool of those who could still find work.

    That could help explain part of the puzzle of why hiring has shown sustained strength at the same time that worker pay has been relatively weak. One hope is that a tight labor market will eventually result in an acceleration in wages, but with more people getting into the labor force, that threshold may still be some ways away.”

  15. Nomad says:


    On the jobs report word was that the wage component was weak.

    Yesterday you said you would have rather had a Subaru vs your Honda. Dissatisfied with the Honda or just a personal preference toward Subaru? I want an SUV but not a large one and I don’t want $150 oil changes served with gourmet coffee.

    PS, how long should the newly minted programmer stay at first job if they are early 20s? Apparently if the jump in a calculated fashion, mid $150s reasonable before 30.
    Thank you,

  16. Hillary's Cankles are ground zero for Zika virus says:

    Where’s the wage inflation batter boy?

    “One hope is that a tight labor market will eventually result in an acceleration in wages, but with more people getting into the labor force, that threshold may still be some ways away.”

  17. Hillary's Cankles are ground zero for Zika virus says:

    “mid $150s reasonable before 30.”

    I feel old.

  18. Fast Eddie says:

    Shut up troll.

  19. Hillary's Cankles are ground zero for Zika virus says:

    I thought 40 by 30 was awesome.

  20. The Great Pumpkin says:

    It’s coming, it’s inevitable.

    Ahh, batter boy calls the 2017/18 economy back in 2012. And people thought I was a troll by making those calls back then. Told me no chance, to stop with the humor. It is certainly funny to me now…..called an idiot for being right on an amazing call.

    Hillary’s Cankles are ground zero for Zika virus says:
    July 7, 2017 at 1:09 pm
    Where’s the wage inflation batter boy?

  21. Hillary's Cankles are ground zero for Zika virus says:

    “It’s coming, it’s inevitable.”
    What kind of prescient forecasting is a minimum of 5 years too late? It’s like saying, “My car will need an oil change!”

  22. Comrade Nom Deplume, taking the summer off says:

    It’s heeeeerrre.

    IRS has published for comment a list of regulations that are on the chopping block as per Trump’s executive order.

    Now the fun starts.

  23. The Original NJ ExPat says:

    More pumpkin spooge

    Wage inflation is inevitable. Have to be getting very close to it.

  24. The Original NJ ExPat says:

    Lib – And then the douche doesn’t change his oil for 6 years and he has to buy a new engine…which comes with new oil. “How about my call? No one is giving me props for my call? I told you I would be getting new oil and you call all called me an idiot?”

    What kind of prescient forecasting is a minimum of 5 years too late? It’s like saying, “My car will need an oil change!”

  25. The Original NJ ExPat says:

    Fantasizing about an undesirable home on a 50mph street in Wayne, NJ:

  26. 3b says:

    Good jobs number wages disappoint. Uptick in unemployment rate more people looking. More looking no uptick in wages.

  27. 3b says:

    Pumps yesterday death of the middle class today wage growth is inevitable. Which is it? Do you ever see your disconnect? Your contradictions?

  28. JJ fanboy says:

    Lmao expat

  29. The whitest guy says:

    He really is a trip. Could you imagine how mixed up his manager is?

  30. Phoenix says:

    From D-FENS

    My vote for question of the day….

    “Can anyone name a good NJ Governor?”

  31. Chi says:

    From D-FENS

    My vote for question of the day….

    “Can anyone name a good NJ Governor?”

    Anyone who is dead.

  32. The Original NJ ExPat says:

    Whitman lowered the sales tax from 7% to 6%.

    “Can anyone name a good NJ Governor?”

  33. JJ fanboy says:

    Expat. She also claimed the air was safe to breathe at ground zero. And I believe was selling $500 a year of firewood to her brother in law to claim her property as a farm and get lower property taxes

  34. leftwing says:

    I don’t have an issue with the real estate tax ‘farm’ subsidy.

    At these rates and values no one in their right mind would let serious acreage go undeveloped and pay full taxes on it.

    Given a choice between a tax break to keep major parcels green or incentivizing the owners to develop more mindless sprawl on our already inadequate infrastructure I chose the former.

    Heck of a lot cheaper than buying those parcels with Green Acres funds.

  35. leftwing says:

    Seems Spunky loves high taxes even more than traditional soc!alists when given the opportunity.

    Norway’s ‘Voluntary’ Tax Plan Brings In Just $1,325 – Bloomberg

  36. grim says:

    I have no issue either – just adjust the minimum income back to the originally set amount, based on the CPI.

    Nobody is going to carve off their backyard for development.

  37. Grab them by the puzzy says:


    New line of succession:
    Favorite Daughter
    Favorite Daughter’s Husband
    Eldest Son
    Next Son
    Vice President
    Least favorite son

  38. Phoenix says:

    Should be titled ” How a 40 dollar profit turned into a 1.4M taxpayer loss.

    How a $40 parking ticket grew into $1.4M payday for ex-cop

  39. Juice Box says:

    Staying down in Chadwick beach tonight. There are some very large three story news homes built in the last year here on postage size lots, 2 car garages with top of the line finishes etc, I guess they aren’t making any more land here on the beach.

  40. Lurks McGee says:

    According to the NBA, wage inflation was inevitable.

  41. The Original NJ ExPat says:

    JJFB – Not as NJ governor.

    Expat. She also claimed the air was safe to breathe at ground zero.

  42. The Original NJ ExPat says:

    Corzine was a sh!tty CEO at MFC Global, but that didn’t make him a sh!tty governor. Being a sh!tty govenor is what made him a sh!tty governor.

  43. The Great Pumpkin says:

    Lurks, the NBA salaries will have an impact on the rest of the economy. Not saying this passage is correct, but they very well may be correct. Athletes in other sports are going to demand more now, as will all major employees in every sector as this moves through the economy.

    “The 71.2% growth in salary that the average NBA player will receive over the next three seasons – won’t be real! The Federal Reserve’s seven straight years of a zero percent Fed Funds Rate and $4.5 trillion balance sheet as a result of massive quantitative easing – will be responsible for all of it! NBA players are known to be big spenders, not savers or investors – so all of this explosive NBA salary growth will result in enormous US price inflation!

    The Fed’s monetary inflation has blown up an artificial bubble in the price of TV content – and although it has taken some time to work its way through the economy, we are about to see the Fed’s monetary inflation turn into massive price inflation! The same thing happening in the NBA is also occurring across many different industries!”

  44. leftwing says:

    Not saying people are going to sell the backyard but a turn of last century Georgian near me that operates its acreage as a ‘Christmas tree farm’ is being sold to a developer. Main residence is turning into 4 units. 54 townhomes or 26 residences on the property depending on how big a set of ba!!s the planning board has.

    Total sell out in these situations more likely than a property carve out.

Comments are closed.