TRENTON – Preliminary estimates produced by the U.S. Bureau of Labor Statistics show that total nonfarm wage and salary employment in New Jersey increased in October by 20,000 to reach a seasonally adjusted level of 4,025,300. This marks the tenth consecutive month of gains in the state’s total nonfarm job level. The increases were concentrated in the private sector (+22,000) of the state’s economy. Including the September upward revision mentioned below, New Jersey private sector employers have added over 38,000 jobs during the past two months. Also, New Jersey has now recovered 512,900 jobs, or about 72 percent of the number lost in March and April 2020 due to the impact of the coronavirus pandemic. The state’s unemployment rate continued declining and moved lower by 0.1 percentage point to 7.0 percent for the month. 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 September were revised higher to show an over-the-month (August – September) increase of 26,300 jobs. Preliminary estimates had shown an over-the-month increase of 21,500 jobs. The state’s September unemployment rate remained at 7.1 percent.

In October, employment gains were recorded in eight out of nine major private industry sectors. Sectors that recorded employment increases included professional and business services (+8,900), trade, transportation, and utilities (+4,000), leisure and hospitality (+3,200), construction (+2,700), other services (+1,100), manufacturing (+1,000), financial activities (+1,000), and education and health services (+300). The only sector to record an employment loss over the month was information (-300). Over the month, public sector employment decreased by 2,000, concentrated at the local level (-2,000).

Preliminary BLS data for November will be released on December 16, 2021.

Article Courtesy of the New Jersey Department of Labor