Fdic: N.J. Economy Continues to Decline ; Weak Job Growth, Home Sales Cited

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NEWARK Further evidence that economic growth in New Jersey has declined came Thursday as a federal banking agency found continued deterioration in the state's jobs and home sales.

Employment grew by just 0.9 percent in the second quarter, trailing the national average of 1.4 percent, the Federal Deposit Insurance Corp. reported. The rate in central and southern New Jersey was above 1.5 percent, but losses in northern New Jersey due to factory closings and layoffs dragged the average down.

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Fdic: N.J. Economy Continues to Decline ; Weak Job Growth, Home Sales Cited

Jobs growth has been largely flat for the past two years, in part becaus...

See the full content of this document

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