NJ Employers Add to Payrolls in February

Preliminary estimates produced by the U.S. Bureau of Labor Statistics indicate that total nonfarm wage and salary employment in New Jersey increased in February by 10,700 to reach a seasonally adjusted level of 3,876,400. The gains were concentrated in the private sector (+12,100) of the state’s economy. New Jersey has now recovered 364,000 jobs, or about 51% of the number lost in March and April 2020 due to the coronavirus pandemic and measures taken in response to it. The state’s unemployment rate was unchanged for the month, remaining at 7.8% in February. See the technical notes at the end of this release for further information about the impact of the coronavirus on this month’s employment estimates.

Based on more complete reporting from employers, previously released total nonfarm employment estimates for January were revised slightly lower by 100 to show an over-the-month (January – February) increase of 800 jobs.  Preliminary estimates had indicated an over-the-month gain of 900 jobs. The state’s January unemployment rate was revised down by 0.1 percentage point to 7.8%.

In February, employment increases were recorded in seven out of nine major private industry sectors. Sectors that recorded employment gains include leisure and hospitality (+6,400), professional and business services (+3,400), education and health services (+3,100), manufacturing (+1,200), trade, transportation, and utilities (+1,200), other services (+900), and financial activities (+400). Sectors that recorded employment contraction include construction (-4,200) and information (-300). Over the month, public sector employment decreased by 1,400 jobs.

Preliminary BLS data for March 2021 will be released on April 15, 2021.

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