New Jersey’s unemployment rate rose to 5.4% in November, marking an increase of 0.8 percentage points from the previous year, according to state employment data released Tuesday. The state saw a decrease of 1,700 jobs in November, bringing total employment to a seasonally adjusted level of 4,396,000 jobs. October also showed a net loss of 3,600 jobs, resulting in a combined two-month net loss of 5,300 positions.
The report was delayed due to a 43-day federal government shutdown that ended on November 12. As a result, the unemployment rate for October is unavailable because household survey data was not collected during the shutdown.
November’s jobless rate is higher than the national average of 4.6% for the same month. The U.S. Bureau of Labor Statistics will release further details on how New Jersey compares with other states.
Among private industry sectors in New Jersey, only three out of nine recorded job gains compared to October: private education and health services (+4,900), trade, transportation and utilities (+1,800), and financial activities (+800). Sectors with job losses included professional and business services (-3,600), leisure and hospitality (-2,800), construction (-2,000), manufacturing (-800), and information (-100). Other services remained unchanged over the month. The public sector added 100 jobs in November.
Over the past year, New Jersey’s private sector gained 18,800 jobs across four sectors: private education and health services (+28,200), professional and business services (+12,200), manufacturing (+700), and financial activities (+100). However, there were losses 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 this period.
The latest report also revised September’s preliminary employment estimates downward by 500 jobs; this resulted in an August-to-September gain of 10,400 positions.
Compared to November last year when the unemployment rate was at 4.6%, New Jersey has seen its jobless rate rise by nearly one percentage point over twelve months.
The New Jersey Business & Industry Association (NJBIA) represents employers across various sectors as the largest statewide employer association in the nation. It promotes business success by providing essential information and services to its members while encouraging collaboration between businesses as well as with government entities and academic institutions (official website). NJBIA advances competitive excellence for its members through advocacy efforts and practical support initiatives designed to help businesses prosper throughout New Jersey.
