New Jersey nonfarm wage and salary employment increased by 20,000 in October to reach a seasonally adjusted level of 4,025,300. Meanwhile, the state’s unemployment rate declined slightly to 7.0%, the New Jersey Department of Labor & Workforce Development announced Thursday.
Estimates produced by the U.S. Bureau of Labor Statistics show New Jersey job gains in eight out of nine major private industry sectors: professional and business services (+8,900); trade, transportation, and utilities (+4,000); leisure and hospitality (+3,200); construction (+2,700); other services (+1,100); manufacturing (+1,000); financial activities (+1,000); and education and health services (+300).
The only private sector to record an employment loss over the month was information (-300). Over the month, public sector employment decreased by 2,000.
The state’s unemployment rate declined from 7.1% in September to 7.0% in October, the NJDOL said. One year ago, the October 2020 unemployment rate was 7.7%.
New Jersey has now recovered 512,900 jobs, or about 72% percent of the number lost in March and April 2020 due to the impact of the coronavirus pandemic, the NJDOL said in a press statement.
