According to preliminary estimates by the federal Bureau of Labor Statistics (BLS), the unemployment rate in New Jersey moved to 4.7 percent in September, up from 4.5 percent in August.
As preliminary estimates reported employment contractions for September, more complete reporting from employers showed much larger increases in total nonfarm employment for August, according to data released by BLS.
The BLS revisions showed employment up by 1,100 jobs in August, for an over-the-month (July-August) gain of 1,300 jobs, continuing a three-month employment gain in New Jersey. Previously released August estimates showed an increase of 200 jobs. Preliminary BLS data for September shows payrolls in both private and public sectors of New Jersey’s economy were lower by 6,300, reaching a seasonally adjusted level of 4,124,200 total non-farm jobs.
For the first nine months of 2017, employment is up by 20,500 jobs (+0.5 percent), adding 19,300 private jobs and 1,200 public jobs. Looking over the longer term growth, New Jersey’s private sector employers have added 31,200 jobs over the past year (September 2016 – September 2017). Since the recessionary low point of private sector employment in February 2010, the Garden State’s private sector employers have added 317,800 jobs.
In September, job gains were posted in two of nine major private industry sectors. Sectors that increased were education and health services (+4,200) and professional and business services (+800). Over the month, public sector employment was lower by 400 jobs. Additionally, sectors that reported a dip in employment are leisure and hospitality (-5,500), trade, transportation and utilities (-2,400) information (-1,400), financial activities (-800), construction (-400), manufacturing (-200), and other services (-200).
Technical Notes: Estimates of industry employment and unemployment levels are arrived at through the use of two different monthly surveys.
Industry employment data are derived through the Current Employment Statistics (CES) survey, a monthly survey of approximately 5,000 business establishments conducted by BLS of the US Department of Labor, which provides estimates of employment, hours, and earnings data broken down by industry for the nation as a whole, all states and most major metropolitan areas (often referred to as the “establishment” survey).
Resident employment and unemployment data are mainly derived from the New Jersey portion of the national Current Population Survey (CPS), a household survey conducted each month by the US Census Bureau under contract with BLS, which provides input to the Local Area Unemployment Statistics (LAUS) program (often referred to as the “household” survey).
Both industry and household estimates are revised each month based on additional information from updated survey reports compiled by BLS. In addition, these estimates are benchmarked (revised) annually based on actual counts from New Jersey’s Unemployment Compensation Law administrative records and more complete data from all New Jersey employers.Related Articles: