file photo by Boyd Loving
the staff of the Ridgewood b;log
Ridgewood NJ, According to Garden State Initiative (GSI) analysis of the newest jobs numbers released by the Bureau of Labor Statistics (BLS) today, New Jersey’s job growth for 2018 was much smaller than first reported. Instead of the previously reported 61,900 new jobs added in 2018, there were actually only 39,400 new jobs added last year – a decline of 44%. (The Bureau of Labor Statistics revises jobs statistics on a monthly and annual basis to account for new data available and more in-depth analysis that is able to take place.)
The revised numbers from BLS mean that while New Jersey did still experience jobs growth for 2018, the actual growth was lower by 27,500 jobs than initially reported. New Jersey’s labor force is still smaller than the average labor force size in 2006.
Some Key Findings of the GSI report :
- New jobs in 2018 revised downward 44% – from 61,900 to 39,400
- Labor force remains smaller than average labor force in 2006
- Participation rate continues to trail national average
- Unemployment ticked up .1 to 4.0%