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Stephen Jenco on Last Week's Poll

'You're going to see challenges in New Jersey.'

By Brianne Harrison | Updated on December 07, 2007

IF THERE IS A RECESSION, HOW WILL NEW JERSEY FARE?

Although the country is bracing itself for a possible recession, this week’s poll respondents proved to be surprisingly optimistic. Nearly half (41%) believe that New Jersey will weather a recession without a problem. Slightly more than a third (32%) predict a bleak future, however. The rest (26%) are waiting to see what happens. Stephen Jenco, Grubb & Ellis’ client services manager, was somewhat cautious in his response to the question, leaning towards the wait-and-see camp, although he doesn’t seem to think that the state will sail through a recession with no problems at all. Here are his thoughts:

“If you’re looking at the economy as a whole, New Jersey has been a little sluggish compared to the rest of the country. When you look at the number of jobs that have been created nationally and you compare that to New Jersey, New Jersey’s been a little behind, and that’s when the national economy was doing pretty well. If there’s a recession and the national unemployment rate starts to rise, you’re going to see even more employment challenges in New Jersey.

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