The Recession Hits Home – Job Loss in Central New Jersey

Meltdown. Financial crisis. Recession.

These words hit the newspaper headlines in fall 2008 as Lehman Brothers collapsed and other Wall Street firms stood on shaky ground. The economic fallout included job losses for workers in New Jersey and throughout the nation. Every job sector was impacted.

From September 2008 to December 2009, the unemployment rate in New Jersey rose from 5.8% to 10% (U.S. Department of Labor, Bureau of Labor Statistics). In January 2010, Mercer, Middlesex, and Monmouth Counties experienced unemployment rates ranging from 8.2 to 9.6%. Locally, GE Healthcare announced layoffs of 100 Princeton employees in January 2009. Two significant employers in nearby South Brunswick, Dow Jones and Pfizer, made announcements about closing facilities and eliminating 500 jobs in November 2009. Ligand Pharmaceuticals laid off half its staff in March 2010 and plans to close its Cranbury facility by the end of the year.

With unemployment levels reaching rates not seen in decades, many people in central New Jersey have had to seek assistance from the government and private sector with job training, career counseling, and networking opportunities. Besides dealing with financial setbacks, the unemployed also have to cope with the psychological effects of job loss.

There Is Hope

Visitors to The Recession Hits Home: Job Loss in Central New Jersey will learn about organizations that assist the newly unemployed, career changers, and those about to enter the work force. Mercer County residents can take advantage of the services provided by the One-Stop Career Center in Trenton, including job readiness workshops, a resource room with access to phone, fax, and internet, and vocational training. The Trenton office is part of 1,853 One-Stop Career Centers sponsored by the United States Department of Labor, providing assistance to the unemployed throughout the United States.

Several private sector organizations and institutions, including the non-profit Dress for Success Mercer County; SCORE (America’s Counselors to Small Business); the Princeton Public Library; and the Career Services office of Princeton University aid people from all economic backgrounds, from the economically-disadvantaged to small business owners to recent college graduates.

Through the efforts of the organizations featured in this exhibition, people in central New Jersey affected by the global economic crisis have opportunities to regain entry to the work force.

The Recession Hits Home – Job Loss in Central New Jersey will be on view from Tuesday, July 20 to Sunday, August 22, 2010.