Preliminary estimates for October show private sector employment increased by 2,600 jobs in October, according to the US Bureau of Labor Statistics (BLS).
October’s job gains enhance New Jersey’s continuing employment growth, as private-sector employers have added 34,100 jobs over the past year (October 2016 – October 2017), according to BLS data. Since February 2010, the low point for private sector employment during the most recent recession, private-sector employers in the Garden State have added 323,700 jobs.
The BLS data for October show total nonfarm wage and salary employment increased to a seasonally adjusted level of 4,125,700. The unemployment rate ticked up to 4.9 percent, according to preliminary estimates from BLS.
Last month, job gains were posted in five of nine major private industry sectors. Sectors that increased were trade, transportation and utilities (+3,100), manufacturing (+1,700), education and health services (+1,400), information (+1,000), and other services (+700). Sectors that recorded a loss were financial activities (-2,000), leisure and hospitality (-1,500), professional and business services (-1,100), and construction (-800). Over the month, public sector employment was lower by 900 jobs.
Based on more complete reporting from employers, previously released September estimates were revised to show that an over-the-month (August-September) total nonfarm employment loss of jobs (6,500) was predominately in the public sector with a drop of 3,900 government jobs. Preliminary estimates had indicated an over-the-month loss of 6,300 jobs primarily in the private sector.Related Articles: