Thursday, January 19, 2006

Jones Lang LaSalle

N.J. unemployment rate climbs in Dec.

TRENTON (AP) -- New Jersey's unemployment rate in December was 4.7 percent, up from 4.6 percent in November, the state Department of Labor and Workforce Development reported Wednesday.

The December unemployment rate also rose from the same period in 2004, when it was 4.2 percent, although it was lower than the nationwideunemployment rate of 4.9 percent for December 2005.

The Garden State registered 3,000 new nonfarm jobs in December from November, the vast majority in the private sector.

The education and health-services sectors added 1,700 jobs in December. In the construction industry, 1,400 jobs were created, while the financial sector, bolstered by increases in the finance and insurance areas, grew by 600 jobs.

The state was hurt by losses in the manufacturing sector, which lost 1,400 jobs, as well as the professional and business sectors, which lost 1,300 jobs.

The New Jersey Business and Industry Association, which represents private sector employers, said that in comparison with other states, New Jersey's job growth has been weak and inconsistent during the past two years and is evidence of a "sluggish economic recovery."