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Jobs Report Offers Major Upside Surprise

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the staff of the Ridgewood blog

Ridgewood NJ, on Friday, concerns about a potential bubble on Wall Street seemed to dissipate amid a robust US jobs report, which bolstered investors’ confidence in America’s ongoing economic strength. Despite any lingering concerns about delayed rate cuts, the blowout report overshadowed them. In March, US payrolls surged by 303,000, surpassing all expectations. Additionally, the unemployment rate dipped to 3.8%, wages exhibited solid growth, and workforce participation saw an uptick, reaffirming the resilience of the labor market, which continues to drive the economy forward. As a result, all major groups in the S&P 500 experienced gains.

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New Jersey Is the State with the 2nd Worst Unemployment Rate Change

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  • the staff of the Ridgewood blog

Trenton NJ, with the U.S. having gained 216,000 jobs in December, WalletHub today released updated rankings for its report on Changes in Unemployment Rate by State, along with a WalletHub Q&A.

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U.S. payrolls increased a better than expected 216,000 in December, on increase in Government Jobs

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the staff of the Ridgewood blog

Ridgewood NJ, total nonfarm payroll employment increased by 216,000 in December, and the unemployment rate was unchanged at 3.7 percent, the U.S. Bureau of Labor Statistics reported today. Employment continued to trend up in government, health care, social assistance, and construction, while transportation and warehousing lost jobs.

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New Jersey Sees Highest increase in Unemployment Rate in the U.S.

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the staff of the Ridgewood blog

Trenton NJ, New Jersey recorded the most significant rise in the nation’s unemployment rate, as reported by the U.S. Bureau of Labor Statistics on Friday.

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Payroll Employment Rises by 236,000 in March; Unemployment Rate Unchanged at 3.5%

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the staff of the Ridgewood blog

Washington DC, (8:30 am)total nonfarm payroll employment rose by 236,000 in March, and the unemployment rate changed little at 3.5 percent, the U.S. Bureau of Labor Statistics reported today. Employment continued to trend up in leisure and hospitality, government, professional and business services, and health care. This news release presents statistics from two monthly surveys.

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Layoffs make Headlines but Companies have Been on a Hiring Spree

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the staff of the Ridgewood blog

Ridgewood NJ, While Amazon, Salesforce and other giants across technology and finance have combined to fire tens of thousands of workers, small and medium-size US businesses have been on a hiring spree. So much so that, according to new data, overall hiring far exceeded expectations in December while applications for jobless benefits fell to a three-month low.

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New Jersey Increase Unemployment Insurance Benefits

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the staff of the Ridgewood blog

Trenton NJ, The New Jersey Department of Labor and Workforce Development (NJDOL) today announced changes in the maximum benefit rates and taxable wage base that take effect January 1, 2023, for Unemployment Insurance, Temporary Disability Insurance, Family Leave Insurance, and Workers’ Compensation.  Continue reading New Jersey Increase Unemployment Insurance Benefits

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New Jersey Job Numbers Soft Despite Plunge in Unemployment Rate

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  • Private-sector jobs fall for first time since the worst of the pandemic
  • Sharp drop in the unemployment rate reflects decline in labor force, as well as increase in numbers working
  • Sharp decline in construction, as government jobs grow

the staff of the Ridgewood blog

Morristown NJ, on October 20th, New Jersey’s Department of Labor and Workforce Development issued the monthly jobs report for September 2022. Dr. Charles Steindel, former Chief Economist of the State of New Jersey, analyzed the report for the Garden State Initiative: Continue reading New Jersey Job Numbers Soft Despite Plunge in Unemployment Rate

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Payrolls Increased a More than Expected 372,000 in June

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the staff of the Ridgewood blog

Washington DC, total nonfarm payroll employment rose by 372,000 in June, and the unemployment rate remained at 3.6 percent, the U.S. Bureau of Labor Statistics reported today. Notable job gains occurred in professional and business services, leisure and hospitality, and health care.

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After Repeated Calls for NJ Labor Commissioner Robert Asaro-Angelo to Resign the NJDOL Finally Begins to Act

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the staff of the Ridgewood blog

Trenton NJ, after repeated  calls for NJ Labor Commissioner Robert Asaro-Angelo to resign .The New Jersey Department of Labor and Workforce Development (NJDOL) has begun scheduling in-person appointments for workers who have had trouble with their unemployment claims, and on March 28 will begin seeing claimants with previously scheduled appointments at select One-Stop Career Center locations. No walk-ins will be served.

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Pressure Mounts On New Jersey Labor Commissioner Robert Asaro-Angelo to Resign

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the staff of the Ridgewood blog

Trenton NJ, Senator Kristin Corrado (R-40) called for New Jersey Labor Commissioner Robert Asaro-Angelo to resign following his recent appearance before the Senate Labor Committee and two years after his department’s offices closed to the public:

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New Jersey Is the State with the 3rd Worst Unemployment Rate Recovery According to a WalletHub Study

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the staff of the Ridgewood blog

Trenton NJ, With the U.S. gaining 199,000 jobs in December, below the previous month’s 249,000 jobs, WalletHub today released updated rankings for the States Whose Unemployment Rates Are Bouncing Back Most, to illustrate which areas of the country have had the best recovery so far.

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October ’21 NJ Jobs Report: Job Recovery Continues as Unemployment Falls Further Behind the Nation

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October ’21 NJ Jobs Report: Job Recovery Continues as Unemployment Falls Further Behind the Nation

State adds 20,000 jobs, remains 200,000 below pre-pandemic level

NJ’s 7.0% Unemployment Rate is 2.4% higher than U.S. average, which fell .2% to 4.6%

Despite recent gains, Leisure & Hospitality remain 20% below pre-pandemic

Workforce remains 140,700 smaller than February ‘20

Distinct differences in jobs recovery among NJ’s regions

the staff of the Ridgewood blog

Morristown NJ,  On November 18th, New Jersey’s Department of Labor and Workforce Development issued the monthly jobs report for October 2021. Dr. Charles Steindel, former Chief Economist of the State of New Jersey, analyzed the report for the Garden State Initiative:

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Older workers who dropped out of the workforce when Covid hit have not come back

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the staff of the Ridgewood blog

Ridgewood NJ, the labor force participation rate  remains at or near an all-time low. The USA  is more than four million jobs below where we were PRE-COVID A big part of the problem,  is that government welfare programs are providing generous benefits that can match the financial rewards from working.

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September’s Jobs Report Big Miss, Payrolls Increasing by only 194,000

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the staff of the Ridgewood blog

Washington DC, total nonfarm payroll employment rose by 194,000 in September, and the unemployment rate fell by 0.4 percentage point to 4.8 percent, the U.S. Bureau of Labor Statistics reported today. Notable job gains occurred in leisure and hospitality, in professional and business services, in retail trade, and in transportation and warehousing.

Continue reading September’s Jobs Report Big Miss, Payrolls Increasing by only 194,000