1. James W. Hughes, Dean 2011 Economic Overview

2. Length of Recessions in Months Since 1929 Source: National Bureau of Economic Research.

3. Percent Change in Real GDP: U.S. (seasonally adjusted at annual rates) Source: U.S. Bureau of Economic Analysis.

4. Percent Change in Real GDP: U.S. (seasonally adjusted at annual rates) Source: U.S. Bureau of Economic Analysis.

5. Percent Change in Real GDP: U.S. (seasonally adjusted at annual rates) Source: U.S. Bureau of Economic Analysis.

6. U.S. Private-Sector Employment Change 2008 - 2009 Source: U.S. Bureau of Labor Statistics. 2008 12-Month Loss: -3,784,000 2009 12-Month Loss: -4,987,000 Total 2008-2009 Loss: -8,771,000

7. U.S. Private-Sector Employment Change 2008 - 2009 Source: U.S. Bureau of Labor Statistics.

8. U.S. Private-Sector Employment Change 2009 - 2011 Source: U.S. Bureau of Labor Statistics. 2010 12-Month Employment Gain: +1,173,000

9. U.S. Private-Sector Employment Change 2009 - 2011 Source: U.S. Bureau of Labor Statistics. 2010 12-Month Employment Gain: +1,173,000

10. U.S. Private-Sector Employment Cumulative Losses (thousands), Jan. 2008 – Sep. 2011 Source: U.S. Bureau of Labor Statistics.

11. The Recovery is on track… Source: Tom Toles, Washington Post.

12. But it’s narrow gauge Source: Tom Toles, Washington Post.

13. U.S. Private-Sector Employment Change 2009, 2010, 2011 Source: U.S. Bureau of Labor Statistics.

14. U.S. Private-Sector Employment Average Monthly Change, 2009, 2010, 2011 Source: U.S. Bureau of Labor Statistics.

15. U.S. Private-Sector Employment Quarterly Change, 2009, 2010, 2011 Source: U.S. Bureau of Labor Statistics.

16. U.S. Private-Sector Employment and GDP Recoveries Percent Change Since Start of Recession December 2007 – June 2011 Sources: U.S. Bureau of Labor Statistics, U.S. Bureau of Economic Analysis, National Bureau of Economic Research.

17. Post-Recession GDP Recoveries July 1981 – November 1982 Current 21 months 42 months to date Sources: U.S. Bureau of Labor Statistics, National Bureau of Economic Research, Wall Street Journal. December 2007 – June 2009

18. New Jersey Private-Sector Employment Change 2009, 2010, 2011 Source: U.S. Bureau of Labor Statistics.

19. New Jersey Private-Sector Employment Average Monthly Change, 2009, 2010, 2011 Source: U.S. Bureau of Labor Statistics.

20. New Jersey Private Sector Employment Monthly, 1990-2011 (seasonally adjusted, in thousands) Source: New Jersey Department of Labor. Sep-11 3,241 Sep-98

21. U.S. Housing Starts, 2000-2011 (seasonally adjusted at annual rates) Source: U.S. Census Bureau.