Slow But Steady Job Growth Predicted For New Jersey [AUDIO]
The Conference Board's latest consumer confidence index has dropped slightly, from 81.8 to 79.7, because many people are feeling less optimistic about pay hikes and wage increases over the next 6 months.
But in New Jersey, most experts don't seem too concerned.
"I think you'll still see small incremental growth for the last four months of the year, and better growth for the first quarter of next year. We're growing each and every month, which is a very, very good sign," says the President of the New Jersey Business and Industry Association, Phil Kirschner.
He points out many business bosses are a bit frustrated, because "usually by three years after a recession, there is tremendous job growth, and that obviously has not happened - what we are seeing is more slow, incremental small job growth during most months."
Kirschner adds the watch-word for the business community seems to be caution.
"It's like they've been bit once, when the recession came 5 years ago," he says, "and they're really reluctant to stick their toe back in the water."
He also stresses demand for workers really depends on the specific industry you're talking about, since in New Jersey "we track 10 different sectors, and I believe last month five were up, four were down and one was the same."