NJ Businesses Have Departed for Friendlier Locations

The Cranbury Conservative blog has a revealing entry that illustrates why New Jersey is undergoing difficult economic times. This quote points to our problems:

"The first decade of the 21st century (December, 1999-December, 2009) was completely upside down. New Jersey lost 156,100 private sector jobs, but at the same time it gained 69,400 government jobs. So for every government job added, the State lost more than two private-sector jobs. In contrast, in the 1990s, for every government job added, the State gained 22 private sector jobs. This was not a great way to start the new century."

This type of trend eventually leads to disaster. The private sector not only sustains itself and produces the goods and services we enjoy, it pays for the public sector through tax revenue. When the private sector contracts significantly and the public sector remains constant the remaining private sector companies experience added financial burdens. But when a public sector expansion accompanies the private sector contraction fiscal disaster can (and did) result. Simply stated business is leaving New Jersey for greener pastures.