NJ Employment Dips

New Jersey as reported a slight loss in the number of employed within the state by approximately 12,000 year-over-year for the month of December 2018.

The state’s unemployment rate has remained steady from November 2018 to December 2018, but the year-over-year comparison for unemployment has fallen significantly from 4.7% to 4.0%.

Year-over-year, the private sector of the state has gained 61,900 jobs from December 2017.

The bulk of those jobs appear to be coming in the manufacturing section, which gained 9,200 jobs year-over-year.

The hourly earnings for manufacturing has increased by nearly $2 an hour from $21.60 to $23.14.

Since 2008, the state has employed of a 4.5 million people consistently. That number has ranged between 4,540,000 to 4,588,000. The state over the last 11 years has never dropped below that and has never had as many individuals working in its labor force.

If you have any questions about this information or title insurance, please contact Ralph Aponte: 732.914.1400.

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