Preliminary estimates produced by the U.S. Bureau of Labor Statistics indicate that total nonfarm wage and salary employment in New Jersey increased by 16,600 in June to reach a seasonally adjusted level of 3,935,600. This represents the sixth consecutive month of job gains in the state’s recovering labor market, and a 33,800 gain over the past two months.
The June increase was concentrated in the private sector (+14,300) of the state’s economy. New Jersey has now recovered 423,200 jobs, or about 59 percent of the number lost in March and April 2020 due to the coronavirus pandemic and measures taken in response to it. The state’s unemployment rate rose slightly to 7.3 percent as more residents entered the labor force in search of work. See the technical notes at the end of this release for further 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 May were revised higher to show an over-the-month (April – May) increase of 17,200 jobs. Preliminary estimates had indicated an over-the-month gain of 13,600 jobs. The state’s May unemployment rate was unchanged at 7.2 percent.
In June, employment increases were recorded in six out of nine major private sectors. Sectors that recorded job gains over the month include trade, transportation, and utilities (+6,200), leisure and hospitality (+4,500), education and health services (+4,100), professional and business services (+800), financial activities (+300), and other services (+200). Sectors that recorded job losses include construction (-1,300), manufacturing (-800), and information (-100). Over the month, public sector employment increased by 2,300 jobs.
Preliminary BLS data for July 2021 will be released on August 19, 2021.
Article Courtesy of the New Jersey Department of Labor