New Jersey employers added 13,800 jobs in March to reach a seasonally adjusted level of 4,386,600, state officials announced on Thursday.
The state unemployment rate remained at 4.8% for the sixth straight month and is a full percentage point above the current national jobless rate of 3.8%. Viewed on annual basis, New Jersey’s unemployment rate is 0.8% higher than it was in March 2023.
Revisions to the preliminary estimates for February showed an upward revision of 2,100 for a revised January-to-February monthly loss of -3,200. The revisions did not affect the unemployment rate for February, which remained unchanged at 4.8%.
In March, 7 of 9 private industry sectors recorded job growth. Sectors that recorded employment gains were private education and health services (+5,900), leisure and hospitality (+1,800), professional and business services (+1,200), construction (+1,000), other services (+800), trade, transportation, and utilities (+600), and manufacturing (+100). Government employment rose by 2,600 jobs, mainly at the local level.
Sectors that recorded job losses for the month were information (-200) and financial activities (-100).
Over the past 12 months, New Jersey has added 84,200 nonfarm jobs. Roughly 89% of those gains were in the private sector, with 8 of 9 private sector industries recording a year-over-year gain between March 2023 and March 2024. Those industries were private education and health services (+43,500), leisure and hospitality (+14,100), other services (+6,400), trade, transportation, and utilities (+6,200), construction (+3,400), professional and business services (+1,300), manufacturing (+600), and financial activities (+300).
The public sector recorded a gain of 9,400 jobs over the past 12 months.
Losses were recorded year-over-year in information services (-1,100).
