NJ unemployment rate drops as slow recovery continues
New Jersey recovered 3,900 jobs in April – another sign of a slow recovery as the state’s unemployment rate fell slightly to 7.5%, according to the monthly employment report released by the Bureau of Labor Statistics.
Despite the low number, this is the fourth month of job creation since the pandemic slowed the economy. And amid the nationwide hiring problem, the United States added just 266,000 jobs, or about a quarter of a million expected jobs. The national unemployment rate is 6.1%.
New Jersey’s April gains were largely in the private sector and bring the total jobs recovered in the state to 388,400, or about 54% of the jobs lost at the height of major closures linked to a pandemic in March. and April 2020.
The bureau adjusted March’s unemployment gains to 20,000, about 400 less than preliminary reports indicated. The unemployment rate for March was revised to 7.6%.
The leisure and hospitality industry, which has been hardest hit by the mandatory shutdowns, has regained 3,000 jobs, according to the report. Education and health services increased by 900 jobs, information by 700 jobs and construction by 400 jobs. Declines were reported in trade, which lost 800 jobs, in manufacturing, which lost 500 jobs and around 400 jobs in financial sectors.
Public sector employment also increased by 400 jobs, the office reported.
The recovery has stalled in recent months, although Gov. Phil Murphy is slowly lifting restrictions inside and out as the CDC’s mask guidelines evolve. Economists hope it will create more jobs for people looking to return to work, but others argue that unemployment benefits prevent workers from taking jobs.
More than 2.1 million residents have applied for unemployment benefits since the pandemic began in March 2020. In New Jersey, unemployed people are still eligible for unemployment benefits until September 4, including the weekly federal supplement. of $ 300.
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