Sarlo Issues Statement on NJ’s Unemployment Rate

Trenton – Senate Budget and Appropriations Committee Chair Senator Paul Sarlo issued the following statement after the U.S. Bureau of Labor Statistics estimated a historically low 3.5% unemployment rate in New Jersey – the lowest since the bureau began keeping state-level records in 1973:

“The bureau’s numbers are a reflection of the sound and strong leadership in our state. We are in amazing shape; we are 2% below what is considered full employment, which is the best place New Jersey has been since we started collecting this data. I’m proud of the responsible steps the Legislature has taken, along with the Governor, to foster good paying, sustainable jobs for New Jerseyans.

“The economy is strong today, but there is still work to be done. We all know that an economy ebbs and flows and that’s why we ensured a $1.3 billion surplus in this year’s budget. My committee and I knew the responsible thing was to prepare for the inevitable. When the next economic downturn comes, I am confident that we have built an economy and a budget with the fortitude to keep our residents healthy, housed and employed.”