Unemployment rate in N.J. dips to 3.1% in September

The unemployment rate in New Jersey is staying on trend in September, dipping lower once again for the sixth consecutive month, while job levels stayed the same, according to the U.S. Bureau of Labor Statistics.

The state’s unemployment rate decreased by 0.1 of a percentage point to 3.1% – the lowest monthly rate recorded since 1976 – and stayed below the national unemployment average of 3.5%.

Employment was higher by 44,600 jobs this month when compared to September 2018, with gains recorded in both the private (+43,400) and public (+1,200) sectors. Since February 2010, which is the low point of the last recession, New Jersey’s private sector added 403,000 jobs.

This month, employment increases were seen in five out of the nine major private industry sectors, including other services (+3,100), leisure and hospitality (+2,200), financial activities (+1,000), construction (+500), and manufacturing (+500). Sectors that lost jobs include professional and business services (-4,100), trade, transportation and utilities (-1,100), information (-800), and education and health services (-400).