TRENTON – Treasurer Andrew Sidamon-Eristoff said Tuesday he believes the state has been lagging in job growth, especially when compared to the nation, because much of the growth is based in manufacturing, an area in which New Jersey has a very small base.
“The national recovery is based largely in manufacturing and durable goods,” he told the Assembly Budget Committee. “New Jersey is unfortunately no longer the center of manufacturing.”
Another fact that affects the unemployment numbers is that the state is leading the nation in decreasing its public sector workforce. While in the short term it may paint the state’s unemployment numbers negatively, Sidamon-Eristoff said in the long-term, “That serves us in good stead.”
Assemblyman Albert Coutinho, (D-29), of Newark said there needs to be policies made to encourage job creation for working-class families.