New Jersey private sector employers added to their payrolls in November for the seventh consecutive month while employment in the public sector moved lower. Estimates produced by the U.S. Bureau of Labor Statistics indicate that total nonfarm wage and salary employment in New Jersey increased by 7,100 in November to reach a seasonally adjusted level of 3,896,300. The gains were recorded in the private sector (+9,700) of the state’s economy while employment in the public sector fell by 2,600.
New Jersey has now regained a total of 485,700 jobs in the six months since April, or about 58% of the jobs lost due to the coronavirus pandemic and measures taken in response to it. The state’s unemployment rate increased by 2.2 percentage points to 10.2% in November, mainly due to New Jersey residents re-entering the labor force seeking employment over the month. See the technical notes at the end of this release for information about the impact of the coronavirus on this month’s employment estimates.
Based on more complete reporting from employers, previously released total nonfarm employment estimates for October were revised higher by 2,300 to show an over-the-month (September – October) decrease of 2,900 jobs. Preliminary estimates had indicated an over-the-month loss of 5,200 jobs. The state’s October unemployment rate was revised lower to 8%.
In November, employment increases were recorded in six out of nine major private industry sectors. Sectors that recorded job gains include trade, transportation, and utilities (+14,300), education and health services (+2,900), financial activities (+2,100), information, (+900), manufacturing (+600), and professional and business services (+500). Sectors that recorded job losses include leisure and hospitality (-6,400), construction (-3,800), and other services (-1,400). The public sector recorded a decrease of 2,600 over the month, concentrated at the federal level (-2,700).
Preliminary BLS data for December will be released on Jan. 21, 2021.
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