Study: boatbuilding layoffs hurt N.J. manufacturing - Trade Only Today

Study: boatbuilding layoffs hurt N.J. manufacturing

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Industrial employment in New Jersey has fallen 6.4 percent since the beginning of the recession, according to the 2010 New Jersey Manufacturers Register, an industrial directory published annually by Manufacturers' News Inc.

The transportation equipment sector experienced the sharpest decline, losing nearly a third of its jobs during the last two years, or 32.8 percent, due partially to layoffs at boatbuilders Viking Yachts, Ocean Yachts and Egg Harbor Yachts.

These companies, however, have recently reported they are starting to hire back workers.

MNI reports New Jersey lost 29,568 manufacturing jobs since December 2007. During the same period, New Jersey lost 548 manufacturers.

MNI reports New Jersey is now home to 10,003 manufacturers employing 433,545 workers.

"As with the entire nation, the recession continues to hit New Jersey's core sectors, while the faltering housing market has affected industries such as wood products and building products," says Tom Dubin, president of the Evanston, Ill.-based publishing company.


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