And most importantly, once again, to go to the comparison that’s often made by a lot of the liberal critics of the fact that they can’t say that our unemployment rate isn’t lower, they say well still the growth hasn’t been as great, they don’t compare well to the neighboring states, take the federal reserve bank of Philadelphia, where their leading value index was 2.34 percent in New Jersey as of March 31, which is higher than New York’s 1.62 percent, and higher than Pennsylvania’s 2.17 percent, and the nation as a whole is growing at 1.66 percent.
The fact of the matter is that the policies here took longer to get into route because they took longer to institute because we continued to get opposition over and over again from Democrats in the legislature and the warning that I would issue to people as we enter this election season is they want to go back to those failed, old policies.
They’re teeing them up for you right now. Corporate business tax increase, income tax increase, sales tax increase, talking about eliminating the elimination of the estate tax, all of these things are things which have led to this growth, and if you talk at all to any of the folks in the major investment houses, what they will tell you is that already their high net worth individuals are exploring staying in New Jersey as opposed to leaving, especially because of the elimination of the estate tax.
And so all these things are things that are very important to point out and I want to emphasize again, when we walked in here January of 2010, the unemployment rate was 9.8 percent, today it is 4.1 percent.
You know you can continue to say that growth was initially slower, but the fact of the matter is New Jersey unemployment is now lower than it has been at any time since 2001.