“This month’s jobs report was a mixed bag for the state’s economy,” stated GSI’s president Regina M. Egea. “The strong increase in the size of the state’s workforce was a positive development, however a decline in the workforce participation rate and stagnant job growth while the U.S. continues to grow, shows an economy that lacks vibrancy. Of particular note, was the significant job losses in the Professional and Business Sector. That will bear monitoring in the months ahead.”
Garden State Initiative’s president Regina Egea was a guest on this weekend’s edition of State of Affairs with Steve Adubato. In a wide-ranging interview Ms. Egea touched on GSI’s focus on restoring New Jersey’s ability to compete with other states, her recent op-ed separating the facts about New Jersey’s economy from Governor Murphy’s rhetoric and GSI’s research report series Adding It All Up on the cost and size of New Jersey’s government and opportunities for savings.
“New Jersey’s underlying employment data stands in contrast to the Administration’s aspiration of “getting more people to work,” said GSI’s president Regina M. Egea. “The state shed private sector jobs this month. Coupled with the poor growth of our workforce size and a lagging participation rate, this month’s report illustrates an economy far behind the national economic boom.”
Garden State Initiative’s president Regina M. Egea and her recent op-ed on the true state of New Jersey’s economy were a topic of discussion of the weekly New Jersey political insiders column featuring Democratic strategist Julie Roginsky and Republican strategist Mike DuHaime.
Mr. DuHaime stated, “Regina Egea makes many good points, but the most notable is that NJ’s growth is 41% slower than the country as a whole. NJ’s growth is less than half of New York’s, less than half of Delaware’s and way less than Pennsylvania as well. That’s just the reality.”
In an op-ed published on NJ.com, Garden State Initiative’s president Regina M. Egea responded to a recent opinion piece by Governor Phil Murphy published in the same publication. She took issue with Gov. Murphy’s claim that New Jersey is an economic “leader” among states:
“John Adams, a Founding Father, and like Gov. Phil Murphy, a Massachusetts native, once said “Facts are stubborn things.” Governor Murphy’s effort in Sunday’s op-ed to depict New Jersey as an economic “leader” is long on rhetoric but woefully short on facts.”
Are New Jersey’s public employee retirees remaining in-state or leaving for a more tax-friendly retirement?
That’s the question we asked after a recent news report from Illinois found that 71,000 retired public employee pensioners, roughly 18%, were collecting their benefits, totaling $2.4 billion annually, out of state.
Our analysis found that this year nearly $2.6 billion in pension payments, almost 25% of all payments, will be headed out of state, two and a half times the national rate.
GSI is once again ahead of the curve. Just two weeks after we released a report on $2 billion in potential cost savings on New Jersey’s roads and bridges, yet another report has been issued finding serious deficiencies in how the Garden State operates programs to maintain our infrastructure. In its’ Annual Highway Report, the Reason Foundation ranked the state’s highway system 50th, or dead last, when it comes to overall cost-effectiveness and condition.
Much like the GSI report, the study found that New Jersey compares poorly to other high-cost states in the region finding “New Jersey’s overall highway performance is worse than Delaware (ranks 42nd), New York (ranks 45th) and Pennsylvania (ranks 35th)…”
How can New Jersey retain more jobs? That was the question GSI’s president Regina M. Egea was asked by New Jersey Monthly magazine in an interview with Steve Adubato, one of our state's leading public affairs commentators.
The interview offered a glimpse into GSI’s accomplishments since its 2017 founding. Among the topics covered was the need for a fundamental shift in the way our state does business, beginning with efforts to address our ever-growing tax burden and cost of living. Additionally, the interview touched on the current debate over tax incentives, what can be done to retain and lure millennials to New Jersey, and how to optimize our infrastructure investments.