From NJBIZ:
Jobs report: Unemployment slightly increases on weak job growth
New Jersey’s employment rose modestly in March, increasing by 3,600 jobs to mark the fifth monthly increase in the last six months, according to preliminary estimates produced by the U.S. Bureau of Labor Statistics.
The state’s unemployment rate ticked higher by 0.1 percentage point in March to 4.1 percent.
All of the gains for the month occurred in the private sector of the state’s economy, which added 4,400 jobs. Public sector employment was lower by 800 jobs for the month, with all of the contraction occurring at the local government level.
“A growing workforce and more private sector jobs are both positives,” said Regina Egea, president of public policy think tank Garden State Initiative. “But the lack of consistent and substantial growth in either of those categories means that New Jersey is struggling to gain traction.”
Although the New Jersey labor force increased by 7,400 in March, it remains smaller than the average labor force size in 2006, before the last recession in 2008. While trending in the right direction, New Jersey will need to add tens of thousands of new individuals to the workforce in the next few months to catch up with the growth happening around us.
Of note, New Jersey’s financial activities and information sectors are still lagging behind the national trend. The financial activities sector was unchanged in March, but has lost 5,500 jobs year over year. The information sector reported a loss of 100 jobs last month, and a loss of 3,300 jobs year over year.
From the APP:
NJ jobs: This is how we stack up against other states
The report leaves New Jersey decidedly in the middle of the pack for job growth — with available workers to help it grow faster.
There is no consensus, however, on how to get there. Gov. Phil Murphy is pushing for a tax on millionaires to raise $447 million and pay for programs to help low- and middle-income workers. Fellow Democrat Stephen Sweeney, the state Senate president, has been stumping for his plan to get New Jersey’s high cost of living under control.
The fight comes as workers try to find their place in an economy that has been upended by technology. A report released this week by the Federal Reserve Bank of New York found income inequality in New York and northern New Jersey has widened more than other parts of the country since 1980.
One reason: The region’s highly skilled workers have been richly rewarded, while its lower-skilled workers have been replaced by technology, economists at the New York Fed said.
“Many of the most unequal places in the country fit this dynamic,” Jaison R. Abel and Richard Deitz wrote. “In fact, more broadly speaking, research indicates that wage inequality tends to be more pronounced in those places where the demand for skill is the highest.”
Like I have been saying. People leaving here for low cost states simply can’t make it here. If you are high skilled, this place is very rewarding…the high costs are more than made up by the potential reward. So you pay that tax penalty because it’s worth it.
People crying about cost are your middle class in low skilled jobs. They are absolutely getting destroyed by the high costs. Hence, moving or haved moved to an economy more rewarding for low skills aka cheaper cost of living.
“One reason: The region’s highly skilled workers have been richly rewarded, while its lower-skilled workers have been replaced by technology, economists at the New York Fed said.”
I hope the governor paves the rest of Rt 35 it is a mess. Whenever I see him and his detail in their black SUVs I slow down to 40 MPH, they really tool around town here way too fast.
https://www.nj.com/traffic/2019/04/road-by-murphy-and-bon-jovis-houses-just-got-repaved-their-neighbors-are-thankful-but-skeptical.html?fbclid=IwAR3CLIpLhCxvB1J9F8qHn8azQ0g9VnoEATHWN3sQUgk4_j33XDTX8QLCjUg
Pumps Every one is crying about high cost not just low skilled. People are working hard and paying high taxes for a broken crumbling infrastructure. Venture out of Wayne and come and see the pride of NJ Transit Hoboken Terminal. The taxes paid vs the level of services provided is a criminal.
8:27 riiiight.
Juice: as much as I enjoy bashing hypocrisy, I think the rte 35 thing is legit. There is substantial work being completed in Redbank and Shrewsberry. That horrible intersection at the railroad track and Newman Springs Road was completely re-paved. Also they’re upgrading multiple traffic signals all the way up and down the road.
Thank god, JJ is back, and just around Easter, hhmmm, makes you think.
JJ. Since you left, we have this m0r0n that lives in Wayne, but think he’s a genius polish Commodore Vanderbilt. And I’m sorry to say, it looks like Grim is hitting the sauce starting at 6:30am, he blames taste testing, but I beg to differ.
We need some good old Alpha Male T & A and Wall Street stories.
Frankly, what is your opinion of Medicare For All. I figure that if Bernie gets de-railed by corporate democrats. Trump is smart enough to recognize a winning issue, along with wanting to get rid of ObamaCare because of ego reasons, he might well do bulldoze all the republicans and corporate democrats and get thru a Medicare for All, because it will forever be known as TrumpCare, and that is what he truly cares about, just like the original Medicare was one of LBJ’s pride and joy accomplishments and is his in the history books.
AI to take out more jobs and biology, people working on research benches to fall victim to robots.
https://www.axios.com/universities-scramble-to-keep-up-with-the-times-with-ai-classes-9773c620-a6a0-436b-bea1-491bc22d34fb.html
College Kids Are Living Like Kings in Vancouver’s Empty Mansions
https://apple.news/A_c6zQoZfRuq05QkN-6UY-g
To the great pumpkin 8;27 ……I tell Tepper that ..
11:47, I read that AI article as a need for a great many more AI students and a severe shortage of AI jobs and careers going forward. So much so that Carnegie is developing high school curriculums to deal with shortage of future workers.
Trump is the guy who keeps getting saved from walking into oncoming traffic, only to complain that someone yanked his collar. This makes Mueller the latest in a long list of figures whose scrupulousness saved Trump from the consequences of his unscrupulousness.
I wouldn’t call it oncoming traffic. The drivers of the cars have been aiming for him for 2 straight years.
You know….all these ads are completely ruining the element of surprise in giving someone in the family a holiday gift. My wife knows what I’m going to get her because if I googled it randomly…our home computer is now bombarded with ads for that particular product at every site.
Blue Ribbon Teacher, 9:40 am
It’s called Incognito Mode. Use it.
My wife probably thinks she’s getting a premium tinder account.
Yeah, I’m gonna take my horse to the old town road
I’m gonna ride ’til I can’t no more
I’m gonna take my horse to the old town road
I’m gonna ride ’til I can’t no more (Kio, Kio)
Frig – Space X launch pushed another week, going anyway for the tour hopefully crowds won’t be like last time.
Time to start looking at girly car ads.