From the APP:
While help-wanted signs abound, employers say they are scrambling to fill jobs in an exercise that could get more difficult as the giant Baby Boomer generation continues to reach retirement age.
“We’re very busy, and some people retired out,” said Mark Curcio, president of Encur, a Keyport manufacturer that has struggled to keep up with some of its shipping commitments.
The monthly jobs report released Thursday showed New Jersey added 10,200 jobs, bouncing back from May, when it lost 7,000 jobs. It helped the jobless rate reach a milestone, dropping below its previous low of 3.6% in June 2000.
New Jersey’s economy had struggled since then, through the Great Recession, superstorm Sandy and millennials moving to the cities. But it has shown resilience in recent years.
From May 2018 to May 2019, the state ranked 24th in job growth nationwide. And its economy is expected to remain stronger than its neighbors during the next six months, a report by the Philadelphia Federal Reserve Bank said.
The improved labor market is tipping the balance of power in favor of workers, namely, millennials and Generation Z that were raised in the digital age and are putting their stamps on the economy, according to a new report by Rutgers University economists James W. Hughes and Joseph J. Seneca.
It leaves New Jersey on the cusp of a new era that is changing the state’s landscape from one that was largely suburban to one that looks more like a city: high-density housing; vibrant downtowns; and restaurants and bars that are in walking distance, they said.