New Jersey’s labor market is holding steady, according to the latest figures released on Thursday by U.S. Bureau of Labor Statistics. The state’s unemployment rate remained at 4.6 percent, while total nonfarm employment increased by 7,200 jobs to reach a seasonally adjusted level of 4,396,600 jobs.
Revised estimates of total nonfarm employment in November saw a downward revision of 2,200 jobs, resulting in a monthly gain of 900 from October to November. The state’s unemployment rate for November remained unchanged at 4.6 percent.
In December, six out of nine private industries recorded employment gains compared to November. Sectors that recorded employment gains include professional and business services (+3,900), education and health services (+2,600), leisure and hospitality (+1,300), trade, transportation, and utilities (+900), other services (+600), and financial activities (+200). Sectors that recorded job losses include construction (-2,100), and manufacturing (-500). The information sector recorded no change over the month. The public sector added 400 jobs for December.
Over the past 12 months New Jersey has added 30,300 nonfarm jobs, with about 77 percent of those gains in the private sector. Three out of nine private sector industries recorded a gain between December 2023 and December 2024. These include private education and health services (+44,000), trade, transportation, and utilities (+3,000), and other services (+300). Losses were recorded year-over-year in professional and business services (-8,600), information (-6,500), leisure and hospitality (-4,300), manufacturing (-2,300), financial activities (-1,400), and construction (-800). The public sector has recorded a gain of 6,900 over the past 12 months.
