Jones Lang LaSalle
NJ Added 3,700 Jobs in March while Unemployment Rate Dropped to 4.5 Percent
New Jersey's unemployment rate in March was 4.5 percent, a decline of 0.2 percentage point from the February rate of 4.7. The U.S. rate dropped slightly from 4.8 percent in February to 4.7 percent in March.
According to preliminary estimates from the New Jersey Department of Labor and Workforce Development's monthly survey of employers, the number of persons working on nonfarm payrolls, on a seasonally adjusted basis, rose by 3,700 from February to 4,069,100 in March.
Based on more complete reporting from employers, the previously announced gain of 4,700 from January to February was reduced by 1,300 to 3,400.
Private-sector payrolls accounted for almost all of the over-the-month increase as jobholding improved by 3,300 to 3,421,900.
"The data show that New Jersey continues to maintain a healthy economy with a record high employment level last month," said Acting Commissioner David J. Socolow. "Governor Corzine is focusing the State's resources in a strategy to encourage innovation and prosperity in the industry clusters that offer the greatest potential for continued job growth."
Up by 2,200 over the month to 344,100, the leisure and hospitality supersector accounted for about two-thirds of the private-sector gain. Hiring by food services and drinking places contributed most to the advance with jobholding improvement also noted in the arts, entertainment and recreation sector.
The education and health services supersector added 1,700 to boost employment to 569,100. The healthcare/social assistance segment accounted for most of the increase.
The trade, transportation and utilities supersector also experienced a gain over the month as 1,100 jobs were added to reach a level of 880,300. Increases were noted in the wholesale trade sector and several retail trade segments.
Supersectors, remaining at about the same level, were information and "other" services (includes automotive and equipment repair, personal care services, religious organizations and grant-making institutions). There were declines of 100 each in the manufacturing and financial activities supersectors.
The supersector with the largest loss was professional and business services, down by 1,100 to 594,800. A smaller loss occurred in construction where payrolls were down by 500 to 171,000.
The government supersector rose by 400 with the other local government segment contributing most to the increase.
Since March 2005, the unadjusted workweek for manufacturing production workers rose by 0.4 hour to 42.0, average hourly earnings by $0.19 to $16.44, and weekly earnings by $14.48 to $690.48. Over the month, the workweek expanded by 0.3 hour to 42.0, hourly earnings by $0.14 and weekly earnings by $10.77.
NJ Added 3,700 Jobs in March while Unemployment Rate Dropped to 4.5 Percent
New Jersey's unemployment rate in March was 4.5 percent, a decline of 0.2 percentage point from the February rate of 4.7. The U.S. rate dropped slightly from 4.8 percent in February to 4.7 percent in March.
According to preliminary estimates from the New Jersey Department of Labor and Workforce Development's monthly survey of employers, the number of persons working on nonfarm payrolls, on a seasonally adjusted basis, rose by 3,700 from February to 4,069,100 in March.
Based on more complete reporting from employers, the previously announced gain of 4,700 from January to February was reduced by 1,300 to 3,400.
Private-sector payrolls accounted for almost all of the over-the-month increase as jobholding improved by 3,300 to 3,421,900.
"The data show that New Jersey continues to maintain a healthy economy with a record high employment level last month," said Acting Commissioner David J. Socolow. "Governor Corzine is focusing the State's resources in a strategy to encourage innovation and prosperity in the industry clusters that offer the greatest potential for continued job growth."
Up by 2,200 over the month to 344,100, the leisure and hospitality supersector accounted for about two-thirds of the private-sector gain. Hiring by food services and drinking places contributed most to the advance with jobholding improvement also noted in the arts, entertainment and recreation sector.
The education and health services supersector added 1,700 to boost employment to 569,100. The healthcare/social assistance segment accounted for most of the increase.
The trade, transportation and utilities supersector also experienced a gain over the month as 1,100 jobs were added to reach a level of 880,300. Increases were noted in the wholesale trade sector and several retail trade segments.
Supersectors, remaining at about the same level, were information and "other" services (includes automotive and equipment repair, personal care services, religious organizations and grant-making institutions). There were declines of 100 each in the manufacturing and financial activities supersectors.
The supersector with the largest loss was professional and business services, down by 1,100 to 594,800. A smaller loss occurred in construction where payrolls were down by 500 to 171,000.
The government supersector rose by 400 with the other local government segment contributing most to the increase.
Since March 2005, the unadjusted workweek for manufacturing production workers rose by 0.4 hour to 42.0, average hourly earnings by $0.19 to $16.44, and weekly earnings by $14.48 to $690.48. Over the month, the workweek expanded by 0.3 hour to 42.0, hourly earnings by $0.14 and weekly earnings by $10.77.
posted by Jones Lang LaSalle NJ News Blog at 11:17 AM
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