New Jersey’s unemployment rate increased to 4.7% in July, as total nonfarm employment fell by 10,300 jobs to a seasonally adjusted level of 4,375,000, state labor officials said Thursday.
The preliminary June employment estimates were also revised downward, bringing the job loss for that month to 4,2000, not 1,200 as previously reported. The change did not affect the state’s June unemployment rate, which remained unchanged at 4.6% for that month.
In July, just two out of nine private industries recorded employment gains compared to June: the trade, transportation, and utilities sector (+2,600), and the education and health services (+1,800) sector.
Employment losses were recorded in professional and business services (‑3,000), leisure and hospitality (‑2,700), other services (‑2,000), manufacturing (‑1,800), construction (‑1,700), financial activities (‑1,600), and information (‑900).
Public sector jobs also decreased by 1,000 in July.
Over the past 12 months, New Jersey has added 48,500 private sector nonfarm jobs. Six out of nine private sector industries recorded a year-over-year gain between July 2023 and July 2024. These include private education and health services (+34,900), trade, transportation, and utilities (+16,700), professional and business services (+3,600), other services (+1,800), construction (+800), and leisure and hospitality (+300).
Losses were recorded over that same 12-month period in the information sector (‑3,900), manufacturing (‑3,200), and financial activities (‑2,500).
The public sector has recorded a gain of 10,100 jobs over the past 12 months.
New Jersey’s 4.7% unemployment rate in July is higher than the national jobless rate of 4.3%.
