New Jersey employers added 2,200 nonfarm jobs in August, according to preliminary data from the United States Bureau of Labor Statistics (BLS). Garden State private sector employers have added 274,600 jobs since February 2010, the recessionary low point for private sector employment in the state.
The three-month moving average, which evens out the volatility in the monthly employment figures, shows New Jersey’s private sector employment growth averaging 4,700 jobs over the last three months. Private sector employers have added 54,200 jobs over the year (August 2015 – August 2016).
This preliminary BLS data shows the unemployment rate edged up to 5.3 percent in August. New Jersey’s labor force participation rate, which represents the number of people employed or actively seeking work, continues to exceed the national rate 63.9 percent to 62.8 percent.
“The Garden State continues to add jobs during this economic recovery. Employment growth remains persistent, with 2,200 jobs added in August and a three-month moving average growth rate at a healthy 3,500 jobs per month.” said James Wooster, Chief Economist for the New Jersey Department of Treasury.
Industries that experienced employment gains in August included leisure and hospitality (+2,300), trade, transportation and utilities (+1,600), other services (+1,000), construction (+200) and information (+100). Sectors that experienced contraction were education and health services (-1,500), manufacturing (-1,000), financial activities (-600) and professional and business services (-100). The public sector recorded a gain on 300 jobs.
Based on more complete reporting from employers, previously released estimates for July were revised to show an over-the-month total nonfarm drop in employment of 7,800.Related Articles: