In 2023, New Jersey had the biggest rise in jobless rates in the whole country. The rate of unemployment went up from 3.3% to 4.7%, which tied Illinois for fourth place in the country. In spite of this, the state added about 63,000 jobs compared to the year before. The fact that both the jobless rate and the employment rate are going up at the same time shows that there aren’t enough new jobs to meet the needs of people who are entering the job market.
People have different reactions to the news. Some think that the high unemployment rate is because of too many rules and high taxes, which are forcing producers to leave the state. “All manufacturers are leaving because of taxes and rules,” said one reader. New Jersey has too many rules for everything. Another reader agreed with this and added that pharmaceutical research firms are also moving for better opportunities.
On the other hand, some readers said that the jobless numbers were not accurate, saying that there are many job openings but people don’t want to take them. “I don’t believe those numbers for a second,” one reader said. Almost every store in my city has a “Hiring” sign…” This person also said that the high minimum wage and the growing number of jobs that can be done from home could be making the unemployment rate higher.
But there was also an objective point of view, which said that the problem is complicated and needs more research. The reader said that the fact that both the unemployment and employment rates are going up could mean that the new jobs aren’t in areas where people are looking for work, or they might not offer the perks or pay that people are looking for.
People have different reactions to the news that New Jersey’s jobless rate is going up. Some say it’s because of too many rules and high taxes, while others say it’s because there are lots of jobs available but no one wants to take them. There is a third group that says the problem is complicated and needs more research. There is clearly more than one reason for unemployment, and it can’t be summed up in one sentence.