New Jersey’s unemployment rate rose to 5.4% in November, according to state employment data released Tuesday. This marks an increase of 0.8 percentage points compared to the same month last year, when the rate was 4.6%.
The number of employed people in New Jersey decreased by 1,700 in November, bringing the seasonally adjusted total to 4,396,000 jobs. October also saw a net loss of 3,600 jobs, resulting in a combined loss of 5,300 jobs over the two months. The release of this report was delayed due to a federal government shutdown that lasted 43 days and ended on November 12.
The state’s unemployment rate for November is higher than the national average of 4.6%. The U.S. Bureau of Labor Statistics is expected to provide further details on how New Jersey compares with other states when it releases its breakdown of November unemployment rates.
In November, only three out of nine private industry sectors in New Jersey experienced job growth compared to October: private education and health services (+4,900), trade, transportation and utilities (+1,800), and financial activities (+800). Sectors that lost jobs included professional and business services (-3,600), leisure and hospitality (-2,800), construction (-2,000), manufacturing (-800), and information (-100). Other services showed no change for the month. The public sector gained 100 jobs during this period.
Over the past year, private sector employment in New Jersey increased by 18,800 jobs. Gains were seen in private education and health services (+28,200), professional and business services (+12,200), manufacturing (+700), and financial activities (+100). However, losses occurred in construction (-12,500); trade, transportation and utilities (-3,200); information (-3,000); other services (-2,100); and leisure and hospitality (-1,500). The public sector added 1,800 jobs over the same period.
The latest report also revised previous estimates for September downward by 500 jobs. This adjustment means there was a gain of 10,400 jobs from August to September.
The New Jersey Business & Industry Association represents employers across many sectors including manufacturing and retail throughout the state according to its official website. It provides advocacy as well as practical information for businesses and encourages partnerships between businesses and government. Michele Siekerka serves as president and chief executive officer of the association.
Founded in February 1910 as the New Jersey Manufacturers Association and headquartered in Trenton, it now operates as one of the largest statewide employer associations nationwide according to its official site.