State adds 21,500 jobs, remains 200,000 below pre-pandemic level
Unemployment Rate declines .1% to 7.1%, but rises to 3rd highest in the U.S.
NJ’s Unemployment Rate is 2.3% higher than U.S. average, which fell .4% to 4.8%
Workforce remains 146,700 below February 2020 level
NJ is 1 of 2 states not to see a statistically significant reduction in unemployment over the last 12 months
the staff of the Ridgewood blog
Trenton NJ, Preliminary estimates produced by the U.S. Bureau of Labor Statistics indicate that total nonfarm wage and salary employment in New Jersey increased in September by 21,500 to reach a seasonally adjusted level of 4,000,500. This marks the ninth consecutive month of gains in the state’s total nonfarm job level. The gains were split roughly evenly between the private (+11,900) and public (+9,600) sectors of the state’s economy. New Jersey has now recovered 488,100 jobs, or about 68 percent of the number lost in March and April 2020 due to the impact of the coronavirus pandemic. The state’s unemployment rate moved lower by 0.1 percentage point to 7.1 percent for the month. See the technical notes at the end of this release for further information about the impact of the coronavirus on this month’s employment estimates.
Based on more complete reporting from employers, previously released total nonfarm employment estimates for August were revised lower to show an over-the-month (July – August) increase of 18,300 jobs. Preliminary estimates had indicated an over-the-month increase of 20,300 jobs. The state’s August unemployment rate was unchanged at 7.2 percent.
In September, employment increases were recorded in seven out of nine major private sectors. Sectors that recorded job gains include professional and business services (+4,300), leisure and hospitality (+2,500), trade, transportation, and utilities (+2,300), construction (+2,200), manufacturing (+1,100), education and health services (+400), and financial activities (+200). Sectors that recorded job losses include other services (-900) and information (-200). Over the month, public sector employment increased by 9,600 jobs, concentrated at the local level (+10,200).
Preliminary BLS data for October 2021 will be released on November 18, 2021.
Whether you’re a Republican a Democrat or an Independent voter you’ve got to be sensible and realize that high unemployment is a detriment, a loud warning to our state. NJ could very well drift into an economic depression without a strong workforce. That’s not fantasy. That’s a fact.
As you know unemployment benefits don’t last forever and NJ small businesses can’t be expected to shoulder the additional taxes that Phil Murphy is demanding from them (pay another $225 million). Murphy already borrowed $4.5 billion without tax payer approval. That has to be paid back and no matter what campain slogan Murphy uses he’s still coming for more taxes.
All the while Murphy has no plan to welcome businesses to NJ or to get people motivated to work.
The good news is that you have a choice to vote for fiscally responsible Jack Ciattarelli on November 2nd.