TRENTON – New Jersey’s labor market grew slightly in December, adding 1,400 nonfarm jobs to a seasonally adjusted level of 4,265,700, according to preliminary estimates produced by the U.S. Bureau of Labor Statistics.
Private sector employment rose by 100 jobs for the month, continuing a streak of 32 consecutive months of growth starting in May 2020. The unemployment rate held steady at 3.4 percent.
November employment estimates were revised upward by 6,400, for an adjusted gain of 18,100 jobs between October and November. The unemployment rate remained unchanged, at 3.4 percent.
In December, four out of nine major private industry sectors recorded job growth. They were education and health services (+4,400), trade, transportation, and utilities (+2,200), other services (+500), and information (+100). Sectors that recorded a loss for the month were construction (-3,400), professional and business services (-2,500), manufacturing (-500), financial activities (-400), and leisure and hospitality (-300). Month-over-month, the state’s public sector increased by 1,300 jobs.
For all of 2022, preliminary estimates show job growth was broad-based, with all but one of the nine major private industry sectors recording job gains. The sectors that added jobs for the year were trade, transportation, and utilities (+38,700), education and health services (+38,200), leisure and hospitality (+37,600), other services (+15,600), professional and business services (+13,000), financial activities (+4,200), manufacturing (+2,400), and information (+300). Construction (-8,900) was the only sector to record a loss. Year-over-year, the state’s public sector added 7,800 jobs.
Preliminary BLS data for January 2023, as well as benchmarked data that presents a more complete picture of the New Jersey economy for calendar year 2022, will be released on March 13.
Article and Data Courtesy of the NJDOL