The state’s unemployment rate dipped from 5.1% in February to 4.9% in March, according to data released Thursday by the New Jersey Department of Labor and Workforce Development.
The preliminary labor market estimates for March which are produced by the U.S. Bureau of Labor Statistics, indicate that New Jersey payrolls increased by 5,800 over the month, resulting in a seasonally adjusted employment level of 4,381,600 jobs.
Previously released employment estimates for February were revised upward by 2,100 to show a January to February loss of -8,200 nonfarm jobs, rather than -10,300. The revision did not affect the February unemployment rate of 5.1%.
The U.S. unemployment rate also decreased slightly from 4.4% in February to 4.3% in March, according to the USBLS.
Over the past month, six of nine private industry sectors in New Jersey have recorded net employment gains. Those sectors were professional and business services (+3,300); private education and health services (+3,200); leisure and hospitality (+1,100); construction (+800); information (+800); and trade, transportation, and utilities (+700).
Sectors that have experienced net job losses include other services (-1,900); financial activities (-1,400); and manufacturing (-400). The public sector lost 300 jobs in March.
Over the past 12 months, the state’s private sector has added 9,300 jobs. Three out of nine private industry sectors recorded year-over-year gains, including education and health services (+30,100); leisure and hospitality (+1,000); and information (+100).
Losses were recorded year-over-year in trade, transportation, and utilities (-6,400); manufacturing (-4,900); construction (-3,600); financial activities (-3,000); professional and business services (-2,100); and other services (-1,900). The public sector lost 5,300 jobs.
