New Jersey employment slumps by more than 13,000 jobs
Reposted from NJ.Biz
New Jersey lost more than 13,000 jobs in May, the state Department of Labor and Workforce Development said this week. However, the unemployment rate held steady at 4.1 percent, below the national rate of 4.3 percent.
The preliminary figures from employers found that total employment in the Garden State fell by 13,100, to a seasonally adjusted level of just over 4.1 million. The contraction was entirely in the private sector, which lost 14,000 jobs.
On the upside, April’s preliminary figure of 1,900 jobs gained was revised upward, to a total of 2,900 positions added.
The state added 48,100 private-sector jobs from May 2016 to May 2017, the department said.
In May, only two sectors added jobs: Manufacturing grew by 500 positions, while construction grew by 100. Among the sectors that lost jobs: Professional and business services declined by 9,000 jobs; trade, transportation and utilities fell by 2,400; financial activities dropped by 1,400; education and health services lost 800 positions; information lost 500; and leisure and hospitality lost 400.
The public sector added 900 jobs for the month.
Presented as a public service by Joe Peters of Coldwell Banker
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