New Jersey Economic Outlook: December 2009

“Be Proud to Be in New Jersey” New Jersey’s economy struggled along with the nation as it endured the most severe recession and financial crisis since the Great Depression. The deterioration in job losses is subsiding, however, and economic activity appears to be improving. Population growth is also getting a bit of a boost as many residents from neighboring New York City are relocating in search … “Be Proud to Be in New Jersey” New Jersey’s economy struggled along with the nation as it endured the most severe recession and financial crisis since the Great Depression. The deterioration in job losses is subsiding, however, and economic activity appears to be improving. Population growth is also getting a bit of a boost as many residents from neighboring New York City are relocating in search of jobs and a lower cost of living. The residential market is heading in the right direction, with single-family permits posting gains, and new and existing homes sales both showing progress. While glimmers of hope have begun to emerge, the Garden State is not quite out of the woods. Thank you for your interest in Wells Fargo’s Economic Commentary by Email. You are receiving this message because you have requested Economic Commentary information and updates sent via email. If you no longer wish to receive these emails, please click on the following link to access the Economic Commentary by Email registration page: http://www.wachovia.com/economicsemail.