Economic Recovery

As New Jersey continues its sluggish recovery from the recession, a new Wells Fargo report shows the Garden State is still lagging behind the economic growth of its neighbors.

The top budget analyst with New Jersey's nonpartisan Office of Legislative Services has informed Senate and Assembly budget committees that if the Garden State's economic rebound mirrored national performance, the state would have had roughly $3.3 billion more to spend in the current year's budget.

Many financial experts were predicting a strong economic bounceback at the beginning of 2014, but so far the job creation report has been disappointing, the stock market has been on a roller coaster ride and consumer spending has slowed.

Expansion, but “frustratingly slow expansion” in the next two years.  So says the Federal Reserve in deciding to put off any new action to spur the economy.