Phil murphy: i'm doing a better job than chris christie

TRENTON, NJ – New Jersey Governor Phil Murphy’s office today touted the governor’s job performance, adding that his administration is doing a better job than his predecessor, Chris Christie.

“Under Governor Murphy’s leadership, New Jersey has more than doubled its real GDP growth rate compared to the Christie Administration, which has resulted in a total GDP increase of 7.4% compared to when the Governor took office,” the Governor’s office said on Monday.

Since taking office in January 2018, Governor Murphy and the Legislature have overseen significant strides in New Jersey’s economic development. Data reveals substantial growth in several key areas including GDP, employment, small business, and fiscal responsibility.

GDP Growth

New Jersey’s real GDP growth rate has more than doubled under the current administration, recording a 7.4% increase since Governor Murphy assumed office.

Employment

Since January 2018, the state has added 196,000 jobs. In contrast, job growth during the 10 years prior was just 0.2% annually, adding only 72,400 jobs. This rapid employment increase earned New Jersey a CNBC ranking as the most improved state for business in 2023. The state climbed 23 places to 19th in America’s Top States for Business rankings in 2022.

Small Business and Other New Businesses

The number of small businesses has surged by over 40,000 or 19%, ranking New Jersey among the top five states for small business growth in the Northeast. Furthermore, the state witnessed a 34% increase in high propensity business applications since 2018, landing it in the third spot among select peer states.

Wage Growth

Real median wage growth has registered at 4% during the Murphy Administration, a dramatic improvement over the near-zero growth rate that ranked New Jersey 49th between 2007-2017.

New Industries

Governor Murphy has inaugurated new sectors like film and offshore wind, generating substantial economic inflow and job creation. In 2022, the state set new records in film and digital media production, contributing over $650 million and an estimated 8,500 jobs to the economy.

Fiscal Responsibility

Under the current administration, the average budget surplus has ballooned to more than $6.2 billion. For FY2024, the surplus is projected to exceed 15% of appropriations. Credit rating agencies have upgraded the state’s rating seven times, a sharp reversal from 11 consecutive downgrades under the previous administration.

Governor Murphy’s administration has also made significant debt repayments. Notably, $9.25 billion has been deposited into a Debt Defeasance and Prevention Fund. This effort has paid off $4.7 billion in state debt and supported major projects like school construction and transportation.

Pensions

The Murphy Administration has contributed $32.6 billion to the state’s pension system over six years, four times the $8.8 billion contributed by the Christie administration in eight years.

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