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NJ Unemployment Rate Up Slightly To 3.5%

Preliminary monthly estimates released by the U.S. Bureau of Labor Statistics indicate that New Jersey’s total nonfarm employment increased by 6,500 jobs in December, to reach a seasonally adjusted total of 4,218,100. The state’s unemployment rate edged up a tenth of a percentage point to 3.5 percent as more New Jersey residents entered the labor market in search of employment.

A preliminary over-the-year analysis shows that from December 2018 through December 2019, New Jersey employers added 39,000 workers to their payrolls. All of the gains were recorded by private sector employers (+41,400) as public sector employment declined by 2,400. Last year (2019) represents the 10th consecutive year that New Jersey has recorded private sector job growth — since February 2010 (the recessionary low point for private sector employment), New Jersey’s private sector employers have added 426,300 jobs.

Based on more complete reporting from employers, the previously released total nonfarm employment estimate for November was revised lower by 1,300 to show an over-the-month (October – November) increase of 5,900 jobs. Preliminary estimates had indicated an over-the-month increase of 7,200 jobs. The state’s revised November unemployment rate remains unchanged at 3.4 percent.

Four major private industry sectors recorded employment increases in December. Industry sectors that added jobs over the month include leisure and hospitality (+3,400), professional and business services (+2,700), trade, transportation, and utilities (+1,200), and education and health services (+200). Industries that recorded a decrease over the month include construction (-600), manufacturing (-500), financial activities (-400), other services (-200), and information (-100). Over the month, public sector employment was higher by 800 jobs.

Preliminary data for January 2020 and benchmarked data, which will present a more complete picture of the New Jersey economy for the entire calendar year of 2019, will be released on March 16.

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There are 1 Comments to "NJ Unemployment Rate Up Slightly To 3.5%"

  • Pillow in drum set says:

    I can garenne one thing, as the minimum wage goes up, so will the unemployment rate go up!!!!

    It’s just the way business have to make a living…

    They can’t afford the rate increase, so they lay off a few workers, here and there…

    The one who will be suffering from the minimum wage increase, is non other that the workers.

    And by the way, we the consumers will be suffering as well, because the manufacturers and the distributors have started to raise their prices on everything they sell.

    And if you are wondering how I know this?

    Because I buy food from manufacturers and distributors, and they started to raise their prices.

    Great job governor, keep on running the great state of New Jersey!!!!

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