PRESS RELEASE: NJGOP Chairman: Sobering Statistics On New Jersey's Shrinking Economy Keep Stacking Up

Trenton, NJ - New Jersey's year-over-year job growth declined to its lowest point since 2011 according to figures released by the U.S. Bureau of Labor Statistics. New Jersey's annual job growth is now at less than one percent. 

Last week Governor Murphy proposed growing the size of state government by over a billion dollars in his annual budget address. 

"Sobering statistics on New Jersey's shrinking economy keep stacking up," said NJGOP Chairman Doug Steinhardt. "The state of New Jersey is on the path to insolvency and Governor Murphy’s progressive idealism is sucking the economic life out of it. Job killing programs like mandated wages, Obamacare fines, corporate tax hikes and billion dollar tax increases are taking a devastating toll on New Jersey’s economy, leaving struggling families with no where to turn.”

Steinhardt continued, "At a time when state government should be shrinking, New Jersey Democrats are growing it. Despite the worst job report in 5 years, state government added 2900 more jobs. Just last week, nj.com released the list of the 25 highest paid employees at NJ Transit, all men and all earning over $200,000. Another report detailed how political insiders are using the Schools Development Authority as their personal, patronage pit."

"New Jersey deserves honest solutions to real problems," said Chairman Steinhardt. "Freeze new taxes. Put a 2% cap on State budget growth, just like New Jersey municipalities do. Then, incentivize business to invest and grow here by cutting corporate tax rates, creating private sector jobs, and shaping a path to the middle class that’s attainable and real not fallacious and phony.”

###