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By Scott Goldstein"We are very dependent on that part of the economy to drive the success of New Jersey," the governor said.
The state lost 7,900 financial sector jobs last year and has experienced an overall loss in private sector jobs in early 2008, according to the New Jersey Department of Labor and Workforce Development.
Corzine''s comments came hours after David Rosen, budget director for the nonpartisan Office of Legislative Services, projected state revenues over the next 15 months will be at least $133 million less than the Corzine administration is anticipating.
The governor said the indications of a nationwide recession include year-after-year drops on home prices, the weakening dollar, increasing food prices and skyrocketing gas and energy costs.
"It is imposing very sharply on consumer attitudes," Corzine said. "Seventy percent of our economy is driven by consumers."
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