New Jersey added jobs in February, fueled by growth in the private sector, as the state’s unemployment rate declined by 0.1 percentage point to 4.6 percent.
Total nonfarm wage and salary employment increased by 15,800 for the month, to a seasonally adjusted level of 4,178,000, according to preliminary estimates produced by the U.S. Bureau of Labor Statistics. All the job gains occurred in the private sector (+17,000) of the state’s economy.
Based on more complete reporting from employers, previously released total nonfarm employment estimates for January were revised higher by 2,400 jobs to show an over-the-month (December 17 – January 18) increase of 15,400 jobs. Preliminary estimates indicated an over-the-month gain of 13,000 jobs.
Over-the-year February 2017 – February 2018, employment in New Jersey was higher by 63,200, with the majority of the gains recorded by private-sector employers (+62,200). Since February 2010 (the low point of the last recession), New Jersey’s private-sector employers have added 372,400 jobs.
In February, employment increases were recorded in all nine major private-industry sectors. The largest industry employment gain was recorded in the trade, transportation and utilities (+6,700) sector. Gains were also registered in education and health services (+2,400), construction (+2,100), leisure and hospitality (+1,700), manufacturing (+1,700), other services (+1,200), financial activities (+500), information (+300), and professional and business services (+300). Over-the-month, public-sector employment was lower by 1,200 jobs.
Preliminary BLS data for March will be released on April 19th.
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