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Forecast: NJ’s economic recovery ‘inching along’

Local News | Nov 04, 2010

Forecast: NJ’s economic recovery ‘inching along’

NEW BRUNSWICK, N.J. (AP) — Economists at New Jersey’s largest university say New Jerseyans should see an increase in personal income and benefit from very low inflation in the coming year.

But losses in public jobs are, in part, slowing the Garden State’s economic comeback.

The findings were released Wednesday during the Rutgers Economic Advisory Service forecast and conference in New Brunswick.

The study finds New Jersey has lost 269,000 jobs since January 2008. About 45,000 alone disappeared from May through September.

Economics Advisory Service director Nancy Mantell says New Jersey has lost 42,400 public sector jobs since May. More than half came from local governments.

Mantell says in the near term, most economic activity will be in the service and finance sectors. The report predicts very modest growth in construction.

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