Economists and policy experts say New Jersey is in a unsustainable bubble that will most likely burst next year, causing layoffs. And the government, they say, has not implemented policies that will help residents earn higher wages and spend more as consumers.
The state is in its 107th month of expansion — the second largest expansion in American history, and there’s a good chance it will continue until the summer of 2019, said James Hughes, a faculty fellow at Rutgers University’s John H. Heldrich Center for Workforce Development.
But once the bubble bursts, it is unclear how the economy will adjust, he said.