Morristown, NJ

New Jersey Unemployment Rate Drops to 4.1 Percent

Morristown Minute

New Jersey’s employment growth continued for the 17th consecutive month in April, with the state’s unemployment rate dropping to 4.1%.

Job growth so far in 2022 has averaged 18,700 jobs per month as the unemployment rate falls 1% from the 5.1% recorded this past January.

New Jersey has now recovered 695,700 jobs or 98.2% of job losses that occurred in March and April of 2020 due to the impact of the pandemic.

https://img.particlenews.com/image.php?url=1m2KWa_0fkpmCuD00
NJ Department of Labor

In April, employment increases were recorded in eight out of nine private industry sectors.

Some of these include:

  • Leisure and hospitality (+4,700)
  • Trade, transportation, and utilities (+4,400)
  • Education and health services (+4,200)
  • Professional and business services (+1,000)
  • Manufacturing (+800)
  • Financial activities (+500)
  • Information (+300)

Construction (-2,600) was the only sector that saw decreased employment from the prior month.

https://img.particlenews.com/image.php?url=2gVjgH_0fkpmCuD00
NJ Department of Labor

Over the month of April, public sector employment increased by 200 jobs.

From 2020 to 2021, 94,700 unemployed workers found jobs, and 135,200 additional workers lost their jobs. Overall, the civilian workforce in New Jersey decreased by 40,500 workers.

About one year ago today the unemployment rate was at 7% with 325,700 NJ residents unemployed.

Today, 4.1% of residents are unemployed, a 0.1% decrease in unemployment from a month prior – during which time about 2,000 NJ residents found new jobs.

https://img.particlenews.com/image.php?url=1njyRc_0fkpmCuD00
NJ Department of Labor

A few last interesting statistics:

Weekly work hours for the manufacturing industry averaged just under 40 hours a week, a decrease in weekly work hours of about 2%.

Hourly earnings in the manufacturing industry averaged around $25 per hour, increasing by about $0.40 from a year ago.

Weekly earnings in the manufacturing industry dropped by approximately $27 per week, averaging $986 earned per week compared to weekly earnings of one year ago at $1,014.

Click here for the full state report.

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