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New Jersey Employers Add to Payrolls in March

New Jersey’s payroll employment continued to advance in March, driven primarily by an increase of 4,200 jobs in the private sector. The state’s unemployment rate held steady at 4.6 percent, remaining above the national rate of 4.1 percent.

Total nonfarm wage and salary employment increased by 5,100 in March to reach a seasonally adjusted level of 4,180,300, according to preliminary estimates produced by the U.S. Bureau of Labor Statistics.

Based on more complete reporting from employers, previously released total nonfarm employment estimates for February were revised lower by 2,800 jobs to show an over-the-month (January-February) increase of 13,000 jobs. The state’s revised February unemployment rate was unchanged at 4.6 percent.

Looking at the longer-term, over the year March 2017-March 2018, employment in New Jersey was higher by 67,100, with the majority of the gains recorded by private sector employers (+65,100). Since February 2010 – the low point of the last recession – New Jersey’s private sector employers have added 373,600 jobs.

In March, employment increases were recorded in four out of nine major private industry sectors. Industry sectors which recorded job gains over the month include leisure and hospitality (+3,800), professional and business services (+2,100), manufacturing (+1,200), and trade, transportation, and utilities (+1,100). Job losses were recorded in construction (-1,400), other services (-1,200), education and health services (-1,000), information (-200), and financial activities (-200). Over the month, public sector employment was higher by 900 jobs, with most of the gains at the state level (+700).

Preliminary BLS data for April 2018 will be released on May 17.

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