A struggle to find optimism in South Jersey
Looking six months ahead, 30 percent
of responders believed sales would improve,
while 20 percent expect sales to diminish over
the same period.
Grim employment forecast casts doubt on some good economic signs “We don’t try to tabulate those or make Trebing said the Federal Reserve Bank
judgments. When things are tough, we get of Philadelphia may in the future develop
By João-PIErrE S. ruth positive sign. “When inventories draw down, more complaints.” surveys for specific industries that are
FINdING A SILvER lining in the local economy companies have to manufacture more,” For third quarter 2009, the responders cyclically sensitive. Professional business
takes some doing, based on the latest South Worrall said. “That’s a good sign.” indicated a reading of -3.6 on an index services, accounting services and outsourcing
Jersey Business Survey issued earlier this month. And while Worrall said southern of general activity — its highest rating services are subject to different pressures than
Members of the Chamber of Commerce Southern New Jersey’s labor market is not since the second quarter of 2007 — an education and health care, he said.
New Jersey maintained their pessimism regarding worse off as a whole compared to improvement over the -9.9 reading Worrall said companies operating in the
employment, but they expected sales to increase other parts of the state, pockets of registered in the second quarter of 2009. state are trying to weather the economy, but
over the next six months. That means as business deep unemployment can be found. According to the survey, 36 predicted newcomers would resist opening up
slowly picks up, employers in southern New “If you look at the county level, you percent of responding firms reported shop in New Jersey.
Jersey may be cautious about bulking up their see some with more than 12 percent lower levels of business activity during “Where we do lose is firms considering
staff to meet demand. unemployment,” he said. John D. Worrall the third quarter, with 32 percent of entering the state and doing business here,” he
The quarterly survey, conducted by the Trebing said 139 members of responding companies that reported said. As the cost of doing business increases,
Federal Reserve Bank of Philadelphia, polled the chamber responded to the latest survey, higher levels of activity. New Jersey’s tax and regulatory climate may
chamber members on general business activity, representing the gamut of major industries, Some good news could be found in sales, discourage companies from relocating here,
employment levels, inventories and sales. including retail, wholesale and manufacturing. which improved