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President Joe Biden signing the Infrastructure Investment and Jobs Act at the White House, Nov. 15, 2021. (Official White House Photo by Cameron Smith)

Report: More jobs for New Jerseyans, as well as more unemployment

New estimates show mixed signals for the economy

By Ricky Suta, September 14 2023 12:30 pm

After two months of reported job losses, New Jersey saw significant job growth in August, but the unemployment rate also rose.

In estimates released today by the U.S. Bureau of Labor Statistics, New Jersey’s total non-farm workforce grew by 12,300 jobs in August; there were 6,700 new private sector jobs reported.

This comes after two months of job losses: New Jersey lost 4,200 jobs in July and 3,600 in June.

Although the growth in jobs is a welcome sign, the state’s unemployment rate also rose, going from 3.7% in July to 4.2% in August.

Job growth and the unemployment rate all shape the mid-term electorate when affordability and cost of living are expected to be top-of-mind issues for voters. The report today suggests a mixed bag, with the dueling growth of jobs set against an increasing unemployment rate.

Still, job growth was widespread in the private sector, where seven of the nine major private industries experienced gains.  These private sectors include leisure and hospitality; professional and business services; education and health services; manufacturing; information; financial activities; and other services.

In addition to the private industries, the public sector also recorded growth in August, reporting a gain of 5,600 jobs, at the local level.

There were, however, some sectors that suffered losses, including trade, transportation, utilities; and construction.

The growth of jobs in New Jersey is part of a trend. In the past year, 67,300 non-farm jobs have been gained.

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