And it's likely to get worse as the recession goes on??
"The recession is not going to end in the next few months and pull New Jersey out of its problems," he said.
The recession is going to stay here because of deficit spending and competition for money.
But for economists, it means that the recession is not going to end in the spring, as they had predicted.
"We've been in business for 25 years and seen recessions come and go," he said.
We're just told to get on with it and hope the recession will go away!
"Six months ago we were still feeling where the recession was going," he added.
For all the unemployed, the recession is still going strong.
"The longer the recession goes, the tougher things get for people," he said.
The recession here is going to make it tough for you to find a job.