Mar-28-13 New Jersey Employers Add 12,900 Jobs in February
Unemployment Rate Drops
Higher employment levels were recorded in both the private (+7,100) and public (+5,800) sectors of the state’s economy as total nonfarm wage and salary employment in New Jersey advanced in February to a seasonally adjusted 3,942,900, as measured by the BLS through its monthly employer survey.
New Jersey’s private sector employers have added 44,600 jobs over the past year (February 2012 – February 2013).
“This is another solid jobs report that continues the general, upward trend of growth and progress established under the Christie Administration with nearly 13,000 total jobs added, bringing the number of private sector jobs added under this administration to 120,000," said Charles Steindel, Chief Economist for the New Jersey Department of Treasury. “The unemployment rate is also moving in the right direction, as more New Jerseyans continue to re-enter the workforce and find employment."
In February, private sector job gains were posted in five of New Jersey’s nine major industry sectors. Industries that recorded gains included education and health services (+3,800), information (+3,600), leisure and hospitality (+1,800), other services (+1,000), and professional and business services (+700). Job losses occurred in trade, transportation and utilities (-2,400), financial activities (-1,100), construction (-200) and manufacturing (-100).
Public sector employment in February was higher by 5,800 with advances recorded at all three levels of government: federal (+400), state (+1,800), and local (+3,600).
Based on more complete reporting from employers, previously released January estimates were revised lower by the BLS, down by 4,800 jobs, to show an over-the-month (December 12 – January 13) total nonfarm employment loss of 2,200 jobs. Preliminary estimates had initially indicated an over-the-month gain of 2,600 jobs.
Over the month of February, the unadjusted workweek for production workers decreased by 0.4 hours to 39.5 hours, average hourly earnings were higher by $0.23 to $19.02 and weekly earnings rose by $1.57 to $751.29. Compared to February of last year, the unadjusted workweek decreased by 2.2 hours, average hourly earnings decreased by $0.40, and weekly earnings were lower by $58.52.
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.