"Putting people back to work is an emotional issue for me. Regardless of party, I'm going to make that (job creation) happen. - statement of Governor Christie at Barnegat on August 4, 2011 - PolitickerNJ So Governor Christie takes ownership of NJ job creation. Although it's something which is affected by state, national, and even international events, he said yesterday he is going to make it happen. We now have every right to hold him to this statement, examine his past results, and track his success or lack thereof in the future.
How's this job creation faring so far? Poorly. According to the Federal Bureau of Labor statistics, seasonally adjusted NJ unemployment is now at 9.5%, unchanged from that of 12 months ago. The NJ Department of Labor reports in the last 12 months total NJ non-farming employment decreased by 16,300 jobs with a large decrease of 36,200 jobs in government employment. The largest asset of many New Jerseyans and one vulnerable to unemployment is housing. According to RealtyTrak, there are currently 60,430 New Jersey foreclosure properties. During the current year there have been 12,072 new foreclosure filings, but only 4,327 foreclosure sales. Without data specifically for NJ, the S&P/Case-Shiller Home Price Indices show that nationally home prices are back to their summer 2003 levels. Not a pretty picture.
Christie has staked his reputation on job creation. Let's see how he does as we approach the next several november elections. If the past is prologue to the future, I would not advise betting your job (if you have one) on Christie succeeding. |
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