TRENTON – New Jersey’s total nonfarm employment grew by 12,300 jobs in August, reaching a seasonally adjusted level of 4,342,200, according to preliminary estimates from the U.S. Bureau of Labor Statistics.
Private sector job growth remained steady for the month at 6,700, while the state’s unemployment rate increased to 4.2 percent due to more residents joining the labor force and fewer residents being employed.
Estimates of total nonfarm employment in July were revised downward by 5,200 jobs, for a June-to-July loss of 4,200. The unemployment rate for July was unchanged at 3.9 percent.
In August, gains in the private sector were broad, with seven out of nine major private industry sectors recording job growth: leisure and hospitality (+1,700), professional and business services (+1,500), education and health services (+1,400), other services (+1,100), manufacturing (+800), information (+600), and financial activities (+400). Sectors recording losses were trade, transportation, and utilities (-400) and construction (-400). The public sector recorded a seasonally adjusted gain of 5,600 jobs, focused at the local level (+5,400).
Over the past 12 months, New Jersey has added 67,300 nonfarm jobs. These gains were distributed across several industries, with seven out of nine private sector industries recording gains between July 2022 and July 2023: Education and health services (+45,600), leisure and hospitality (+13,600), trade, transportation, and utilities (+4,100), construction (+3,100), other services (+2,900), manufacturing (+1,200), and information (+700). Losses were recorded in professional and business services (-14,000) and financial activities (-1,700). Year-over-year, the state’s public sector recorded an increase of 11,700 jobs.
Preliminary estimates for September will be released on October 19, 2023.
Article Courtesy of the NJDOL