New Jersey Economic Outlook: A look Ahead

New Jersey’s economy and labor market appear to be in the early stages of a recovery. Economic activity seems to have picked up for the first time in nearly two years.

Residents from New York City are relocating to the state adding much needed revenue. State finances still pose a huge challenge. However, home prices continue to fall and the unemployment rate remains high. Many cities and townships are dealing with rating agency downgrades that highlight the state’s high debt burden, low pension fund ratio, high post-retirement insurance liabilities and depletion of its General Fund reserves.

To Read The Full and Detailed Economic Outlook Report by Wells Fargo Click Here