New Jersey employment growth continues; unemployment rate at 3.9%

New Jersey Department of Labor & Workforce Development figures for May show a continuance in its stretch of job growth and declining unemployment, according to data released Thursday by the U.S. Bureau of Labor Statistics.

The state’s unemployment rate declined to 3.9%, marking the 18th continuous month of job growth in the state.

Total nonfarm employment increased by 6,700 jobs, to reach a seasonally adjusted level of 4,199,100.

Over the year (May 2021 – May 2022), total nonfarm employment grew by 206,300 jobs for an average monthly gain of 17,200. New Jersey has now recovered 703,300 jobs, or about 96% of the number lost in March and April 2020 due to the pandemic.

In May, employment increases were recorded in six out of nine major private sectors. Sectors that recorded employment increases were financial activities (+2,600), education and health services (+2,600), leisure and hospitality (+2,000), other services (+1,500), information (+400) and professional and business services (+100). Sectors that recorded decreases were construction (-1,300), manufacturing (-1,300) and trade, transportation, and utilities (-100).

Over the month, public sector employment increased by 200 jobs.