General Business

New Jersey Employment Expands in November

Unemployment Rate Ticks Up to 3.4%

New Jersey employers added to their payrolls in November while the state’s unemployment rate moved higher, according to estimates produced by the U.S. Bureau of Labor Statistics.

Total nonfarm wage and salary employment in the state increased by 7,200 to reach a seasonally adjusted level of 4,212,900. The state’s unemployment rate moved higher by 0.2 percentage point to 3.4 percent for the month, as more New Jerseyans entered the labor force in search of employment. The Garden State’s unemployment rate remains below the national rate of 3.5 percent. Those who are neither employed nor actively seeking work are considered not in the labor force. When these persons initially return to the labor force by starting a job search they are counted as unemployed, which can cause the unemployment rate to increase.

Looking at the longer term, over the year, November 2018 – November 2019, employment in New Jersey was higher by 34,300 jobs. Gains recorded in the private sector (+36,400) of the New Jersey economy were tempered somewhat by contraction in the public sector (-2,100). Since February 2010 (the low point of the last recession), New Jersey’s private sector employers have added 421,900 jobs.

Based on more complete reporting from employers, the previously released total nonfarm employment estimate for October was revised lower by 100 to show an over-the-month (September – October) gain of 10,100 jobs. Preliminary estimates had indicated an over-the-month gain of 10,200 jobs. The state’s revised October unemployment rate was unchanged at 3.2 percent.

In November, employment increases were recorded in five out of nine major private industry sectors. Industry sectors that gained jobs include leisure and hospitality (+3,800), trade, transportation, and utilities (+3,300), manufacturing (+2,300), education and health services (+1,000), and financial activities (+700).  Sectors that recorded a job loss include other services (-1,000), information (-800), construction (-700), and professional and business services (-600). Over the month, public sector employment was lower by 800 jobs.

Preliminary BLS data for December 2019 will be released on Jan. 23, 2020.

To access more business news, visit NJB News Now.

Related Articles: