Dec-15-16 New Jersey Employers Add 4,700 Private-Sector Jobs in November
Unemployment Rate Falls to 5.0 Percent
TRENTON, N.J., December 15, 2016 – New Jersey’s private-sector employment grew by 4,700 jobs, as the unemployment rate fell to 5.0 percent in November, according to preliminary estimates by the United States Bureau of Labor Statistics (BLS). New Jersey has added 278,000 private-sector jobs since February 2010, the recessionary low point for private-sector employment in the state.
New Jersey’s labor force participation rate, which measures the number of people employed or actively seeking work, continues to best the national rate, 63.6 percent to 62.7 percent.
"The Department of Labor and Workforce Development just released the preliminary figures for November and they are highly encouraging. The unemployment rate fell to 5.0 percent in November and private sector employment is up by 23,300 jobs over the past year. The New Jersey economic recovery continues," said James Wooster, Chief Economist for the New Jersey Department of Treasury.
Industries that experienced employment gains in November included professional and business services (+7,100), education and health services (+1,000), leisure and hospitality (+900), trade, transportation and utilities (+900), and financial activities (+400). Sectors that experienced contraction were other services (-2,200), manufacturing (-1,800), information (-1,100), and construction (-500). The public sector recorded a loss of 800 jobs.
Based on additional reporting from employers, estimates for October were revised to an over-the-month total nonfarm loss of 9,300 jobs. Monthly employment estimates will be revised again in the BLS annual benchmark report released in March 2017.
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 approximately 5,000 business establishments conducted by the U.S. Bureau of Labor Statistics (BLS) of the U.S. 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 U.S. 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 more complete data from all New Jersey employers.
The benchmarked data, which presents a more complete picture of the New Jersey economy for the entire calendar year of 2016, will be released in March 2017.
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