Governor Touts Recent Job-Growth Numbers

Some other numbers released yesterday: The state's payrolls now top the four million mark for the first time in two years. Also, the unemployment dropped from 5.4% in February to 5.2% in March, or about a half-point below the national average. Gains were pretty much across the board, although the state continues to lose manufacturing jobs. The March drop was 9%.

Asked when the job creation was going to start backfilling some of the vacant office space - the statewide vacancy rate is well in excess of 20% and some pockets are in the 40% range - McGreevey stressed that a lot of what's happening now involves small and medium-sized businesses, including start-ups. In other words, the feeling is that many of those downsized in the telecom and pharmaceutical industries, among others, are creating their own jobs as entrepreneurs.In any case, "we're investing in job training, new business incentives and programs that will help such high-growth industries as high-tech and biotech," McGreevey told reporters.

"As we always caution, one month does not make a trend, although our preliminary March numbers are among the most impressive I've seen," Kroll said. "Over the last 12 months, we have established a stellar record of creating 54,200 jobs in this state."

"If the jobs phenomenon was truly a national one, you would expect other states to have the same experience that New Jersey has, at the very least, the other relatively affluent states," according to Micah Rasmussen, a spokesman for the Governor. "But we know that's not the case. In fact, the other states in the Northeast combined, all relatively affluent, don't match New Jersey's record. So we know this is a phenomenon that is unique to New Jersey."