The economic picture in New Jersey continues to move, ever so slowly, in the right direction. The number of initial jobless claims was 11,569 for the week ending Oct. 31, down an almost-imperceptible 203 from the previous week.
At the same time, there was also a story this week about New Jersey being on the brink of collapse. The Pew Center on the States listed our own state as one of ten in the nation that is in danger of economic disaster, because of budget deficits, continuing unemployment, foreclosure rates, and other dire factors. The biggest problem here: Our $44 billion debt. (California was the only state listed in worse peril than New Jersey.)
Of course, these problems are interrelated. If we can get the employment figures moving - not just reducing unemployment, but actually increasing the number of jobs - that's going to make it much easier to wrestle with our budget problems. The economic woes of the state government certainly have many causes, but the best cure for them is a thriving private economy.
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