'09
By Mayor David Roberts
Hoboken resident Hector Torres considers himself lucky. That’s because Torres has a job.
After surviving a round of layoffs at his financial services firm, 37-year-old Torres is one of the 22,000 commuters who board buses, trains, and ferries for the daily trek to Manhattan from Hoboken.
“I’ve seen friends and co-workers who have lost their jobs. It’s an unfortunate economic climate and I’m grateful to have made it this far. Again, there are no guarantees,” says Torres.
Surprisingly, Hoboken has fared better than many communities throughout the current recession. Over the past two decades the “Mile Square City” has transformed itself from a gritty industrial community to a hip, white-collar workforce.
Companies such as publishing house John Wiley & Sons have moved their corporate headquarters to the city’s waterfront, creating hundreds of new jobs. Later this year, Starwood Resorts will open a 25-story W Hotel and Residences, also on the waterfront, providing jobs to local residents.
Fortunately, Hoboken is well positioned to withstand the national downturn. Of course, nothing is recession-proof, but the local job base for those working in hospitality and the corporate world, to cite two examples, has grown.
By all accounts, the hospitality industry, the Hoboken University Medical Center (HUMC), John Wiley & Sons, and Marsh & McLennan are among the city’s largest employers. HUMC employs hundreds of workers who are an important part of the fabric of the city, providing first class health care. HUMC employees, along with those from the many other companies that call Hoboken home, can be seen patronizing many of the stores and restaurants throughout the day. And with over 130 establishments, Hoboken’s hospitality industry provides countless jobs, whether on site or with purveyors and suppliers.
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