NJ Employers Added 96k Jobs in First Six Months of 2022
Preliminary estimates produced by the U.S. Bureau of Labor Statistics show total nonfarm wage and salary employment in New Jersey increased by 9,800 jobs in June to reach a seasonally adjusted level of 4,212,800.
Over the first six months of the year, New Jersey employers have added 96,000 jobs, for an average monthly job gain of 16,000.
The state has now recovered 717,000 nonfarm jobs or about 98 percent of the number lost in early 2020 due to the impact of the coronavirus pandemic.
However, June’s private-sector employment (3,629,900) now exceeds the pre-pandemic level recorded in February 2020 (3,621,300) by 8,600 jobs.
The state’s unemployment rate remained at 3.9 percent in June.
Based on complete employer reporting, the previously released total nonfarm employment estimates for May were revised higher by 3,900 jobs to show an over-the-month (April – May) increase of 10,600. Preliminary estimates had indicated an over-the-month gain of 6,700 jobs. The state’s May unemployment rate was unchanged at 3.9 percent.
In June, employment increases were recorded in five out of nine major private industry sectors.
Sectors that recorded employment increases were leisure and hospitality (+7,600); trade, transportation, and utilities (+4,200); education and health services (+3,800); manufacturing (+1,600); and other services (+400).
Sectors that recorded decreases were financial activities (-2,700); professional and business services (-2,600); construction (-2,200); and information (-500).
Over the month of June, public-sector employment increased by 200 jobs.
Preliminary BLS data for July will be released on August 18, 2022.
Stats as of June 2022:
Civilian Labor Force: 4,663,700 NJ residents employed (181,000 unemployed)
Unemployment Rate for June 2022: 3.9% (unemployment rate one year prior: 7.1%)
Private Sector Employment: 3,629,900 (one year prior: 3,434,200, a change of +195,700)
Public Sector Employment: 582,900 (one year prior: 571,200, a change of +11,700)