Oct-18-12 Unemployment Rate Moves Lower Private Sector Employment Moves Upward
New Jersey’s private sector employers have added 41,600 jobs over the past year (September 2011 – September 2012). Since February 2010, the low point of private sector employment during the recession, private sector employment has increased by 84,900 jobs.
"While New Jersey's job market in September still showed the effect of the summer doldrums apparent in the national figures these last few months, there are positive signs," said Charles Steindel, Chief Economist for the New Jersey Department of Treasury. "The state’s labor force participation rate and employment population ratios remain above national averages, our long-term uptrend in private sector employment continues and September's dip in unemployment might be a sign that the situation will be getting better."
Over the month, job gains in the private sector (+1,100) of the state’s economy were offset by a contraction in public sector jobholding (-2,300).Preliminary estimates indicate that total nonfarm wage and salary employment in New Jersey decreased marginally in September, down by 1,200 jobs, to a seasonally adjusted 3,905,400, as measured by the United States Bureau of Labor Statistics (BLS) through its monthly employer survey.
Based on more complete reporting from employers, previous gains estimated for August were revised lower by 3,000 jobs to show an over-the-month (July-August) total nonfarm employment gain of 2,300 jobs. Preliminary estimates had indicated an over-the-month gain of 5,300 jobs.
In September, private sector job gains were reported in six of ten industry sectors, while losses were registered in three and one was unchanged. Larger over-the-month gains were posted in the other services (+3,200), information (+2,900), and education and health services (+1,200) industry sectors. Smaller gains occurred in manufacturing (+900), finance (+500) and trade, transportation and utilities (+100).
The industry sector with the largest loss was construction, which contracted by 4,200 jobs. Other industries that recorded losses included professional and business services (-2,400) and leisure and hospitality (-1,100).
In September, public sector employment was lower by 2,300 primarily due to contraction at the local (-4,900) government levels.
Over the month, the unadjusted workweek for production workers increased 0.1 hour to 41.0 hours, average hourly earnings were lower by $0.21 to $19.35 and weekly earnings fell by $6.65 to $793.35. Compared to September of last year, the unadjusted workweek increased by 0.1 hour, average hourly earnings increased by $0.38, and weekly earnings were higher by $17.48.
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.