While job levels remained relatively unchanged, the state’s unemployment rate continued its downward trend for the sixth month in a row.
September’s 3.1 percent rate marked a 0.1 percentage point drop – continuing the trend of once again registering New Jersey’s lowest monthly rate since recording began in 1976. That’s according to data released by the New Jersey Department of Labor and Workforce Development on Thursday, citing estimates from the U.S. Bureau of Labor Statistics.
New Jersey’s unemployment rate also came in under the national rate of 3.5 percent.
Total non-farm wage and salary employment fell by 200 to a seasonally adjusted level of 4,197,200, LWD said. But, year over year, employment was up by 44,600 jobs. Compared with September 2018, 43,400 of gains were in the state’s private sector and 1,200 in the public.
Five out of nine industries in the state’s private sector exhibited gains for September: “other services” were +3,100; leisure and hospitality +2,200; financial activities +1,000; and both construction and manufacturing +500, each.
Professional and business; trade, transportation and utilities; information; and education and health services all recorded losses in September, down by 4,100, 1,100, 800 and 400, respectively.
LWD revised total nonfarm employment estimates for August, lowering the number by 3,000, to show a decrease of 1,900 jobs — whereas preliminary estimates had indicated an increase of 1,100 jobs. However, the August unemployment rate remained unchanged at 3.2 percent.
Over the month, public sector employment was lower by 1,100 jobs, mainly at the state level (-900).