New Jersey’s employment rate increased in June while the state’s unemployment levels fell to a historic low, according to new figures by the U.S. Bureau of Labor Statistics.
The state’s unemployment rate decreased by 0.3 percentage points to 3.5% — the lowest monthly figure since records began in 1976 — about 0.2% below the national unemployment rate of 3.7%.
Total nonfarm wage and salary employment increased by 10,200 in June, reaching a seasonally adjusted level of 4.2 million. Gains were seen in the private sector and the public sector of the state’s economy, up 9,600 and 900 respectively.
From June 2018 to June 2019, employment in the state increased by 47,600 jobs, with gains seen in both the private (+45,400) and public (+2,200) sectors. Since the lowest point of the last recession (February 2010), New Jersey’s private sector employers have added approximately 411,000 jobs.
In June, employment increases were seen in eight out of the nine top private sectors, including professional and business services (+3,000); trade, transportation and utilities (+2,600); manufacturing (+1,000); information (+800); education and health services (+800); construction (+700); leisure and hospitality (+600); and other services (+100). The financial services industry was the only sector that was unchanged over the month.