Legislative Budget Officer David Rosen told senators today that New Jersey continues to lag behind other states in its unemployment picture due to transformations in the state’s high end job market.
Rosen was responding to a question from budget committee Chairman Paul Sarlo, who asked the budget officer why, despite ambitious pro-business policies touted by the governor, New Jersey continues to see unemployment over 9 percent.
“The fact that N.J.’s high end job market has largely been telecomm and pharmaceuticals – (those are) two industries that have been transformed largely beyond our control,” he said. “When the state does initiate policies it would be naïve to expect immediate results in anything we do.”
Rosen said any policy changes may not be seen for several years and even then determining whether the policies resulted in job growth is difficult to determine.