The New Jersey labor market estimates for July indicate a state labor market that is showing signs of easing, as total nonfarm employment fell by 10,300 jobs to reach a seasonally adjusted level of 4.375 million jobs in the state. The unemployment rate increased by 0.1 percentage point, to 4.7%, from June to July.
According to a Thursday release from the U.S. Bureau of Labor Statistics, revised June employment estimates show that the job loss was 4,200 (preliminary estimates were 1,200).
For July, two out of nine private industries recorded employment gains compared with June. Sectors that recorded job gains include trade, transportation and utilities (+2,600) and education and health services (+1,800). Sectors that recorded employment losses include professional and business services (‑3,000), leisure and hospitality (‑2,700), other services (‑2,000), manufacturing (‑1,800), construction (‑1,700), financial activities (‑1,600) and information (‑900).
Public-sector jobs decreased by 1,000 for July.
Over the past 12 months, New Jersey has added 58,600 nonfarm jobs. About 83% of those gains were in the private sector, with six out of nine private-sector industries recording a gain between July 2023 and this July.
