DeCROCE: NEW JERSEY FAMILIES ARE HURTING AS STATE JOB MARKET CONTINUES TO SUFFER LOSSES

SAYS CORZINE MUST ACT TO SALVAGE NJ ECONOMY 

Saying that New Jersey families are facing an economic crisis, Assembly Republican Leader Alex DeCroce today called on Governor Jon Corzine to take action to address New Jersey’s struggling economy as the state continues to lose private sector jobs at a faster pace than in neighboring states.

“For years, New Jersey families have been struggling to make ends meet because of our excessive tax burden,” said DeCroce, R-Morris and Passaic. “Now, in addition to that crushing tax burden, our families face the prospect of losing jobs and not being able to pay their bills because of an ever-weakening job market.”

In the first two months of 2008, New Jersey lost 10,400 private sector jobs. This came after several studies in the past year ranking New Jersey among the worst state’s in the nation for businesses.

Today, economists at the Rutgers Bloustein School of Planning and Public Policy released data showing that, even as neighboring states exceeded national job growth figures in 2007, New Jersey was among the ten worst states in creating private sector jobs trailing far behind states like New York, Pennsylvania and Connecticut in creating private employment opportunities.

The report included a section titled “‘Flat-lining’ New Jersey” saying New Jersey trails its economic peer states in job growth by as much as twelve times our state’s rate of growth and may find itself in particularly “precarious position” in 2008.

DeCroce pointed to the Corzine administration’s policies which he said have actually made matters worse for the private sector. These policies include imposing a costly paid family leave program on businesses, adopting new regulations on the business community and New Jersey’s ever increasing state tax burden.

“Businesses look for positive signs and stability when deciding where to locate and expand,” DeCroce said. “When they look at the tax and regulatory policies in this state, and the condition of our state budget, they have little reason right now to be optimistic about New Jersey.”

“Governor Corzine should recognize that we are facing an economic crisis and he should start to undo those policies that are choking off job growth in this state,” DeCroce said. “Looking at these job figures, there is a serious concern as to whether people are going to be able to find work and support their families in New Jersey.

“Our families are hurting and we must take action now to help provide job opportunities for these residents,” DeCroce concluded. “If we don’t, we will soon find fewer and fewer families that can afford to stay in this state.”

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