>WASHINGTON – In his weekly address, President Obama spoke to the American people about how the government is partnering with the private sector to make sure workers have the skills and training they need in this economy. This past Wednesday, he announced commitments by the private sector, colleges, and the National Association of Manufacturers that will make it possible for half a million community college students to get a manufacturing credential that has the industry’s stamp of approval. And on Monday, he will travel to North Carolina to meet with his Jobs Council to work on the steps the government can take to spur private sector hiring in the short-term and ensure our workers have the skills and training they need.
Category Archives: private sector job growth
For anyone who may doubt that the economy is beginning to turn around, there is some more good news about job creation here in New Jersey. During the past year 3,800 private sector banking jobs have been created due to the easing of credit and more loans being made.
The number of bank employees in New Jersey rose from 17,203 in June 2008 to 21,003 in June 2009, and state bank lending increased 11 percent from $88.7 billion to $98.9 billion over that period, the state Department of Banking and Insurance said. Banking employees had been going down for several years.
Bank representatives said they picked up lending business when other avenues for consumers shut down, such as mortgage brokers. The secondary market for buying mortgages dried up over the past year, leaving brokers without a place to sell loans they made.
By contrast, some community banks hold onto some of their loans and do not resell them, said Neil Jasey, commissioner of the banking and insurance department.
The number of employees at New Jersey banks fell from 20,616 in June 2006 to 19,697 in June 2007, before hitting 17,203 last year, the department said.