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New Jersey Unemployment Rate Falls As Workforce Shrinks

Wednesday, October 20, 2010

New Jersey's unemployment rate fell below the national average in last month. The state's Department of Labor reports that 9.4 percent of New Jersey residents were unemployed last month, two-tenths of a percent lower than the national unemployment rate. 

But the decline actually was actually due to people leaving the workforce. New Jersey esimates 3.8 million people are currently employed in the state.

In September, the public sector lost 10,800 jobs while private sector unemployment fell by 9,400. For the year, the private sector in New Jersey has lost 3,900 jobs. For the same period a year ago, 108,400 jobs were eliminated.

The state labor office reports that six out of ten sectors lost jobs and only three had slight gains. Professional and business services had the biggest losses of 4,500. The manufacturing sector had the biggest monthly gains as 1,800 people were hired in September.

 

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