the Staff of The Ridgewood Blog
MORRISTOWN NJ, Following in the wake of the U.S. economy adding 224,000 jobs in June, New Jersey’s economy added 9,600 private sector and 600 government sector jobs in June, according to Garden State Initiative (GSI) analysis of the newest jobs numbers issued by the Bureau of Labor Statistics. The Garden State’s workforce declined in June, the 2nd straight month of a reduction, with the state’s workforce remaining below 2008 levels. The combination of increased employment and shrinking workforce led the unemployment rate .3% lower to 3.5%.
The state’s workforce shrank by 4,000 individuals in June, the second consecutive month of declines. The state’s average workforce of 4,443,100 in the month, remains below the average annual workforce size of 4,504,400 at the start of the Great Recession in 2008, a decline of 1.3%. The current national workforce has increased 5.6% over the same time period.
Continue reading June ’19 Jobs Report – Modest Job Growth & Shrinking Workforce Drives New Jersey Unemployment Rate Lower
