Despite Private Growth, NJ's Unemployment Rises

TRENTON-Despite modest private sector job growth, New Jersey’s unemployment rate rose 0.4% in August and now matches the national level of 9.7%. Just released figures from the state’s Department of Labor and Workforce Development reveals that 2,900 private-sector jobs were added last month. However, on the public side, 2,100 positions were lost, resulting in a net gain of only 800 jobs.

“In August, New Jersey’s private sector employers continued to add workers to their payrolls,” said New Jersey Labor Commissioner David J. Socolow in a statement. “It is encouraging that New Jersey continued to see a four-month trend of private sector employment stabilizing and moving in a positive direction. But the unemployment rate demonstrates that there is much more to do to put New Jersey back to work.”

In July, the NJLWD initially estimated an addition of 13,000 private-sector jobs. However, that number has been revised downward to 5,600. Consequently, instead boosting its total nonfarm payroll by 5,900, the state lost 500 jobs between June and July.Revisions in the month-to-month tallies are not usual. But they are an indication of the continuing volatility in the state’s employment, says James W. Hughes, dean and professor at the Edward J. Bloustein School of Planning and Public Policy at Rutgers University. “We would urge caution in interpreting one or two months in signaling one direction or another,” he tells GlobeSt.com.