NJ Adds Jobs in March

TRENTON – Total nonfarm employment in New Jersey rose by 13,800 jobs in March to reach a seasonally adjusted level of 4,386,600, according to preliminary estimates from the U.S. Bureau of Labor Statistics. The unemployment rate remained at 4.8 percent.

Revised estimates of total nonfarm employment for February showed an upward revision of 2,100 for a revised January-to-February monthly loss of -3,200. The state’s unemployment rate for February remained unchanged at 4.8 percent.

In March, seven out of nine private industry sectors recorded job growth. Sectors that recorded employment gains were private education and health services (+5,900), leisure and hospitality (+1,800), professional and business services (+1,200), construction (+1,000), other services (+800), trade, transportation, and utilities (+600), and manufacturing (+100). Sectors that recorded losses for the month were information (-200) and financial activities (-100). Government employment rose by 2,600 jobs, mainly at the local level.

Over the past 12 months, New Jersey has added 84,200 nonfarm jobs. Roughly 89 percent of those gains were in the private sector, with eight out of nine private sector industries recording a year-over-year gain between March 2023 and March 2024. Those industries were private education and health services (+43,500), leisure and hospitality (+14,100), other services (+6,400), trade, transportation, and utilities (+6,200), construction (+3,400), professional and business services (+1,300), manufacturing (+600), and financial activities (+300).  Losses were recorded year-over-year in information services (-1,100). The public sector recorded a gain of 9,400 jobs over the past 12 months.

Preliminary BLS data for April will be released on May 16.

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Article and graphics courtesy of the NJ Department of Labor and Workforce Development.