Total employment in New Jersey moved higher in February as private sector employers added 6,800 jobs, according to data released by the United States Bureau of Labor Statistics (BLS) showing eight consecutive months of total nonfarm job growth in the state.
Preliminary estimates for February indicate that total nonfarm wage and salary employment increased in New Jersey to a seasonally adjusted level of 3,994,100, as measured by the BLS through its monthly employer survey, with all the employment gains (+6,800) recorded in the private sector of the state’s economy. Public sector jobholding was slightly lower (-600) over the month.
New Jersey has had eight consecutive months of total non-farm employment gains since June 2014, with an over-the-year (February 2014 – February 2015) increase of 54,400 total nonfarm jobs, as measured by the BLS employer survey. Looking over the longer term, the BLS data shows New Jersey private sector employment has increased by 180,900 jobs since February 2010, the recessionary low point for private sector employment in New Jersey.
The February unemployment rate edged higher to 6.4 percent. Based on more complete reporting from employers, previously released estimates for January were revised to show an over-the-month (December – January) total nonfarm employment gain of 5,600 jobs. Preliminary estimates had initially indicated an over-the-month gain of 12,400 jobs.
In February, private sector job growth was posted in five of nine major industry sectors while four recorded a loss. Industries that recorded employment gains included trade, transportation and utilities (+3,700), leisure and hospitality (+2,600), construction (+2,100), other services (+1,400) and information (+800). Industries that experienced job contraction were financial activities (-2,000), professional and business services (-1,000), manufacturing (-600) and education and health 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 the U.S. Bureau of Labor Statistics (BLS) of the U.S. 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 U.S. 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 the 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.
The benchmarked data, which will present a more complete picture of the New Jersey economy for the entire calendar year of 2015, will be released in March 2016.Related Articles: