New Jersey’s unemployment rate declined by 0.1 percentage point to 4.7% in April, and the number of unemployed residents fell to an eight-month low, according to preliminary labor market estimates produced by the U.S. Bureau of Labor Statistics.
However, the monthly report also shows total nonfarm employment in the state fell by 10,900 jobs to a seasonally adjusted level of 4,374,400. This was the largest decline in total employment since July of 2023.
Revised estimates of total nonfarm employment in March saw a downward revision of 1,300 for a February-to-March monthly gain of 12,500. The state’s unemployment rate for March remained unchanged at 4.8%.
In April, six out of nine private industries recorded losses for the month. These include leisure and hospitality (-8,900), professional and business services (-2,600), manufacturing (-1,000), information (-700), financial activities (-700), and other services (-700).
Sectors that added jobs for the month of April were trade, transportation, and utilities (+2,400), construction (+300), and private education and health services (+200). Public sector jobs increased by 800 in April.
Over the past 12 months, New Jersey has added 76,000 nonfarm jobs. Some 87% of those gains were in the private sector, with six out of nine private sector industries recording a gain between April 2023 and April 2024. These industries include private education and health services (+40,300), trade, transportation, and utilities (+12,100), construction (+5,400), other services (+5,000), leisure and hospitality (+3,700), and professional and business services (+3,300).
Sectors that recorded losses during the 12-month period ending in April were information (-2,200), manufacturing (-800), and financial activities (-600). The public sector recorded a gain of 9,700 over the past 12 months.
