NJDOL: New Jersey posts eighth consecutive month of job gains
New Jersey posts eighth consecutive month of job gains
Unemployment rate drops in August
TRENTON – Preliminary estimates produced by the United States Bureau of Labor Statistics indicate that total non-farm wage and salary employment in New Jersey increased by 20,300 in August to a seasonally adjusted level of 3,981,000. This is the eighth consecutive monthly gain in the state’s total non-farm employment level. The August increase was split between the private (+10,200) and public (+10,100) sectors of the state economy. New Jersey has now recovered 468,600 jobs, or about 65 percentt, the number of people lost in March and April 2020 due to the coronavirus pandemic and the measures taken to respond to it. The state’s unemployment rate fell 0.1 percentage point to 7.2% for the month. See the technical notes at the end of this release for more information on the impact of the coronavirus on this month’s employment estimates.
Based on more comprehensive employer reports, previously released estimates of total non-farm employment for July have been revised upwards to show an increase over the month (June to July) of 21,200 jobs. Preliminary estimates had indicated a gain during the month of 14,600 jobs. The state’s unemployment rate in July was unchanged at 7.3%.
In August, employment increases were recorded in six of the nine largest private sectors. Sectors that recorded job gains understand professional and business services (+3,700), education and health services (+3,100), leisure and hospitality (+2,700), manufacturing (+1,900), construction (+500 ) and financial activities (+200). Sectors that recorded job losses include other services (-1,200), commerce, transport and utilities (-500) and information (-200). During the month, public sector employment increased by 10,100 positions, mostly at the local level (+9,400) due to increased employment in local public education.
Preliminary BLS data for September 2021 will be released on October 21, 2021.
Technical remarks: For more information from the United States Bureau of Labor Statistics regarding the impact of the coronavirus pandemic on industry employment and unemployment estimates, please visit: https://www.bls.gov / covid19 / employment-situation-covid19-faq-august-2021. htm
Estimates of employment and unemployment levels in industry are obtained from two different monthly surveys.
Industry employment data is derived from the Current Employment Statistics (CES), a monthly survey of approximately 4,000 New Jersey business establishments conducted by the US Bureau of Labor Statistics (BLS) of the US Department of Labor, which provides estimates of employment, hours, and income data broken down by industry for the country as a whole, all states, and most major metropolitan areas (often referred to as the “establishment” survey).
Data on resident employment and unemployment are primarily derived from the New Jersey portion of the National Current Population Survey (CPS), a household survey conducted monthly by the US Census Bureau under contract to the BLS , which provides data to the Local Unemployment Statistics (LAUS) (often referred to as the “household” survey).
Industry and household estimates are revised monthly based on additional information from updated survey reports compiled by the BLS. In addition, these estimates are calibrated (revised) annually based on actual counts from New Jersey Unemployment Compensation Act administrative records and more comprehensive data from all New Jersey employers.
Effective with the release of the January 2018 estimates, the Current Employment Statistics (CES) program has been converted to simultaneous seasonal adjustment, which uses all available estimates, including those for the current month, to develop seasonal factors. . Previously, the CES program developed seasonal factors once a year during the annual baseline process. For more information on simultaneous seasonal adjustment in the CES State and Area program, see www.bls.gov/sae/saeconcurrent.htm.
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