NJ bounces back

From the APP:

NJ jobs: Unemployment rate drops to record low 3.5%, leaving employers in a pinch

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.

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

31 Responses to NJ bounces back

  1. dentss dunnigan says:


  2. grim says:

    Will be interesting to watch these numbers as we start rolling into July – which saw the minimum wage increase.

  3. Yo! says:

    Could we be in different type of economic cycle? With MMT and big time fiscal stimulus, the good economic news should be flowing for years to come. It has happened before – Australia in year 29 without recession.

  4. The Great Pumpkin says:


    Been saying this for a long time, glad you are opening up to it. Roaring 20’s 2.0…I’ve said this a long time ago. Pretty amazing to watch it happen before my eyes.

    Yo! says:
    July 19, 2019 at 8:02 am
    Could we be in different type of economic cycle? With MMT and big time fiscal stimulus, the good economic news should be flowing for years to come. It has happened before – Australia in year 29 without recession.

  5. The Great Pumpkin says:


    Now that it’s not me saying it, do you actually believe it? Nj dying? Should people run for the hills?

    Like I told you many times, nj was going through an adjustment period. You took as dying, but it was only morphing into its new image. Mark my words, within the next 10 years, nj economy will be one of the most powerful in the nation. Nj adjusted fast..pretty amazing.

  6. The Great Pumpkin says:

    For people that don’t live in north jersey, all I can tell you is that lots of northern nj is no longer recognizable from 10 years ago. It’s spreading everywhere in the north. It really is mind blowing.

  7. Bystander says:


    Shut down the blog, please. The rest of us can find one another in a dark corner of the web. New handles and we will filter out any references to NJ or its towns. I am not kidding. It is beyond insufferable.

  8. Grim says:

    One month and this guy sees nirvana.

  9. The Great Pumpkin says:


    What’s so insufferable? That I’m right? It hurts, huh?

    I’ll stop posting today since it’s so unbearable to hear someone make some pretty good calls. I give a recommendation to short Netflix last week, and not one individual came on here to say…wow, that’s an amazing call if I ever saw one. Instead I got sh!!ed on like always.

    Do you hate when I’m right because that makes you wrong? Can’t handle it?

  10. PumpkinFace says:

    What’s so insufferable?

    Prime example = yesterday

  11. Yo! says:

    Questions for board: What is the corruption level in the NJ residential appraisal industry today? What are the penalties for producing fake appraisal?

  12. PumpkinFace says:

    Every bit of “logic” you tried to employ was ignorant and erroneous. It was full of repeated/regurgitated claptrap that’s been explained to you ad nauseam. And rather than entertain the possibility that you are wrong, you believe you are Copernicus.

    Why don’t you display your brilliant intellect on NJ.com articles or yahoo? Give us a breather. We’re slow. We need time to digest it all.

  13. grim says:

    Questions for board: What is the corruption level in the NJ residential appraisal industry today? What are the penalties for producing fake appraisal?

    30yr’s feedback is worth more than mine, but based on the last few deals I’ve been arms length to (friends, family, colleagues) – seems pretty restrained/reasonable.

    Probably the biggest complaint I’m hearing is fewer appraisers managing a significantly more diverse/larger area, bad comps, etc. Mostly it’s from Realtors who feel that outsiders aren’t properly valuing the unique advantages of the neighborhoods their listings are in.

    I’d say still seems skewed conservative, still has the hangover from the bust. On the low end, I’ve seen a couple deals fall apart because the appraisals were actually fairly unreasonably – low – small homes valued less than comparable buildable lots).

  14. Juice Box says:

    re: “What are the penalties for producing fake appraisal?”

    They do get suspended and license revoked. There is a board of appraisers you can complain to.

    Here is a list of actions against appraisers.


  15. GdBlsU45 says:

    The amount of garbage the left has assisted in infiltrating our country is mind boggling. It’s absolutely criminal what today’s productive children are being saddled with. Another reason why it’s paramount for the left to ramp up the indoctrination in schools. Spin the blame onto another demographic.

  16. 3b says:

    Grim one month Nirvana . I was thinking the same thing.

  17. GdBlsU45 says:

    “Another” medical billing loophole that I just found got hit with. It’s widely practiced but if you aren’t savvy it will bite you in the a$s.

    When visiting med express and similar places, ask for the up front payment amount vs the contract insurance charge. I was offered to pay 129 when I visited and just ended up paying 200 after insurance adjustment with”insurance” kicking in 50. This is the medical billing industry taking their piece of the pie. 100% markup.

  18. grim says:

    Check your urgent care provider to see what classification they fall into.

    If I walk into MedExpress, they charge me my $50 urgent care co-pay.

    The other morning I walked into the Valley system urgent care (they were open earlier), they only charge the primary care co-pay, which for me is $30.

  19. GdBlsU45 says:

    I’m high deductible plan.

  20. Libturd, seen crazy things done with ping pong balls. says:

    “Could we be in different type of economic cycle?”

    When did I last hear this?

    I am slowly but surely cycling into more conservative, defensive positions. I’ve done (and hope most of you) have done way better than I could have ever imagined the market would treat me. Sadly, I’m not seeing it in the economy. All of the Millennials I’ve run into remind me a lot of what it was like during the early to mid nineties. Struggling to buy or even rent a decent place. They have jobs, but they don’t pay much. They are also much more frugal and demanding. Economically, our infrastructure is failing every which way you look. Whether it’s black outs, massive traffic everywhere you go. Trains, both the MTA and NJ Transit absolutely falling apart. Kiosks everywhere you luck. No one can get an order right whether it’s fast food, or the cashier at the grocery. Heck, even Boeing can’t get quality anymore.

    I’m not seeing the roaring 20s. I’m seeing the beginnings of the 70s.

    The economic numbers? Don’t let them fool you. They are juiced by the repatriated dollars, lower corp tax rates and the huge giveaway from a few years ago. My investment club (which is really doing a nice job beating the indexes this year) looks at the fundamentals of hundreds of companies both horizontally and vertically diversified. The amount of money that came in due to the negative taxation in 2017 was a friggin’ bounty. When charted, it appears as an anomaly often to the 3rd or 4th or sometimes 10th order. The problem is, the effects of this onetime windfall are starting to wear off. What dumb trick is Trump is going to use next?

    Where’s my damn infrastructure improvement if this economy is so great?

    “Could we be in different type of economic cycle?”

    Believe me. That statement is the death knell to all prosperous cycles. I would err on the side of caution and make sure to look this gift horse in the mouth. Because if you do, you’ll see it’s very long in the tooth.

  21. Juice Box says:

    re: Where’s my damn infrastructure improvement if this economy is so great?

    The Democrats don’t want to give it to Trump. There was talk of a $2 trillion infrastructure bill but that seems dead now and then there is the USMCA bill. If that bill passes there will be a resurgence in the rust belt, not sure if it is going to get the vote the way things are going before Congress recess for the summer.

  22. Juice Box says:

    Speaking of stocks MSFT absolutely crushed it and there is more to come. The stock barely moved and it was higher a week ago.

  23. Friday Firew0rksWatcher says:

    BBC News wire, reporting iran seizes British Flagged Tanker.

    Now, heat up the popcorn and watch the show.

  24. chicagofinance says:

    To those who remember, my cousin was born in Albania and graduated Wesleyan in 2013. Earned his CFA in 2 1/2 years, and started to work with the Balyasny Hedge Fund. He just got poached by Citadel. So he has officially arrived at 28. Not bad for a son of a Walmart dock worker.

  25. Juice Box says:

    Re: Straight of Hormuz – Lots of shipping traffic there today, the seized tanker Sterna Impero can be seen on the live map below heading towards Bandar Abbas Iran. There is allot of internaitonal miltary there, they can still take it back. UK Cobra committee is meeting now, perhaps commandos in helicopters on the way?


  26. Libturd, seen crazy things done with ping pong balls. says:


    Congrats. Though I can’t stand hedge fund managers and most of everything related to Wall street. I still can appreciate the effort your cousin has put in to join those assholes. Bring on the debt!

  27. Juice Box says:

    Griffin from Citadel paid the most for a home ever. $238 million for 3 floors at 220 central park south. 24000 sq ft. Most expensive building in NYC at $7,040
    sq ft.


  28. Juice Box says:

    RutRoh – 2nd British tanker seized. MV Mesdar

  29. No One says:

    Good for your cousin, Chi. Now that he’s arrived, next step is staying power to hang in there long enough.
    I don’t keep up with hedge funds much, the main thing I know about Balyasny was that I always saw those guys sponsoring the annual Ayn Rand institute dinner in NYC. I wonder whether they promoted that in the firm.

  30. XRumerTest says:

    Hello. And Bye.

  31. The Original NJ ExPat says:

    Poor Pumpy. He’s like this little legless homeless person, shit for brains, shit for education, shit for underpants…just begging, with less than a full complement of fingers, with his tin cup on his soiled skateboard. Meanwhile, real men pass him by in their business suits and shined shoes and he doesn’t understand why people look down on his “sage” wisdom, spewed from between his gapped and yellowed teeth.

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