Apr-19-12 Unemployment Rate Unchanged at 9.0 Percent Employer Payrolls Lower in March
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Over the year, March 2011 – March 2012, total nonfarm employment in New Jersey has increased by 38,300 jobs. Moreover, since February 2010, which was the low point of private sector employment during the recession, New Jersey private sector employers have added 60,600 jobs.
“New Jersey’s economy has expanded steadily throughout the first two years of the Christie Administration, creating thousands of private sector jobs,” said Charles Steindel, Chief Economist for the New Jersey Department of Treasury. “The majority of indicators suggest that New Jersey employment growth will continue over the long term, creating a stronger economy for everyone.”
Preliminary estimates indicate that total nonfarm wage and salary employment in New Jersey moved lower in March, down by 8,600, to a seasonally adjusted 3,881,800, as measured by the United States Bureau of Labor Statistics (BLS) through its monthly employer survey. Lower payrolls at private employers (-11,600) was somewhat offset by gains in the public sector which saw employment increase by 3,000 due to gains at the local government level.
Based on more complete reporting from employers, previously released February estimates were revised slightly lower, down by 1,700, to show an over-the-month (January – February) total nonfarm employment gain of 7,000 jobs. Preliminary estimates indicated an over-the-month gain of 8,700 jobs.
In March, employment contracted in seven of ten private sector industry supersectors while three registered gains. Industries that recorded the largest losses included, professional and business services (-4,000), construction (-3,200), education and health services (-1,800), manufacturing (-1,500) and financial activities (-1,400). In professional and business services, all three components realized lower payrolls over the month: professional, scientific and technical services (-1,900), administrative support/waste management/remediation (-1,800), and management of companies (-300). In construction, less than seasonally expected hiring — probably due to the mild weather which kept projects going through the first two months of the year — resulted in the downward movement. The loss in education and health services was entirely in the education services (-2,300) segment while the drop in manufacturing was concentrated in the durable goods (-1,700) component. Employment in financial activities was lower in both the finance and insurance (-800) and real estate, rental and leasing (-600) categories.
Small employment gains were evidenced in information (+800), other services (+500) and trade, transportation and utilities (+100). Public sector employment in February was higher by 3,000, due entirely to increases at the local government level (+3,100). Local government employment includes county, municipal and local government education.
Over the month, the unadjusted workweek for production workers decreased 0.6 hour to 41.1 hours, average hourly earnings were lower by $0.11 to $19.26 and weekly earnings declined by $16.14 to $791.59. Compared to March of last year, the unadjusted workweek increased by 1.0 hour, average hourly earnings increased by $0.30, and weekly earnings were higher by $31.29.
Press Release Tables
Technical Notes: Estimates of industry employment and unemployment levels are arrived at through the use of two different monthly surveys.
Industry employment data are derived through the Current Employment Statistics (CES) survey, a monthly survey of business establishments conducted by the US Bureau of Labor Statistics (BLS) of the US Department of Labor, which provides estimates of employment, hours, and earnings data broken down by industry for the nation as a whole, all states, and most major metropolitan areas (often referred to as the “establishment” survey).
Resident employment and unemployment data are mainly derived from the New Jersey portion of the national Current Population Survey (CPS), a household survey conducted each month by the US Census Bureau under contract with BLS, which provides input to the Local Area Unemployment Statistics (LAUS) program (often referred to as the “household” survey).
Both industry and household estimates are revised each month based on additional information from updated survey reports compiled by BLS. In addition, these estimates are benchmarked (revised) annually based on actual counts from New Jersey’s Unemployment Compensation Law administrative records and other data.
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