The unemployment rate in the Garden State is inching closer to 10 percent.
The unemployment rate of 9.9 percent is at a 35-year high. Rutgers University economics professor Joseph Seneca from Rutgers says New Jersey’s problems are a reflection of a slowing national economy.
“Growth of jobs at the national level was at the beginning of the year and the last couple of months have been weak for the national economy,” he said. “That’s certainly echoing in New Jersey except the New Jersey numbers are particularly weak.”
Seneca says there’s not much to be done in the short term.
“Nothing real quick, there’s no silver bullet for the state. The same thing for the national economy,” he said.
New Jersey’s unemployment rate has been above 9 percent for 39 months in a row.