New Jersey Exceeded 4.4 Million Jobs in February Setting New Record High
TRENTON – Preliminary labor market estimates for February, produced by the U.S. Bureau of Labor Statistics, indicate the state’s unemployment rate held steady at 4.6 percent, while total non-farm employment increased by 19,200 jobs and reached a record high seasonally adjusted level of 4,402,000 jobs. Although New Jersey’s unemployment rate has changed little in recent months, monthly non-farm employment estimates have increased by 25,800 jobs since November.
Employment estimates from December to January were revised down by 4,900, resulting in a total loss of 11,000, compared to the preliminary job loss estimate of 6,100. The January unemployment rate was unchanged at 4.6 percent.
In February, five out of nine private industries recorded employment gains compared to January. Sectors that recorded employment gains included education and health services (+3,900), trade, transportation, and utilities (+2,500), professional and business services (+1,200), construction (+300), and manufacturing (+200). Sectors that recorded job losses include financial activities (-1,200), information (-100), leisure and hospitality (-100), and other services (-100). The public sector added 12,600 jobs in February.
Over the past 12 months, New Jersey has added 45,800 non-farm jobs, with 82 percent of those gains in the private sector. Six out of nine private sector industries recorded a jobs gain between February 2024 and February 2025. These included private education and health services (+36,800), leisure and hospitality (+3,900), other services (+2,500), manufacturing (+1,800), trade, transportation, and utilities (+1,000), and financial activities (+600). Losses were recorded year-over-year in information (-4,400), professional and business services (-4,000), and construction (-500). The public sector has recorded a gain of 8,100 over the past 12 months.
Preliminary BLS estimates data for March 2025 will be released on April 17, 2025.
NJ Employment Situation Highlights: February 2025. Article courtesy of The NJ Department of Labor.