New Jersey Has Recovered 99% of Jobs Lost to Covid, Economists Say

Preliminary estimates produced by the U.S. Bureau of Labor Statistics show total nonfarm wage and salary employment in New Jersey increased by 6,300 jobs in July to reach a seasonally adjusted level of 4,218,300. Private sector employment grew by 12,100 jobs. So far this year, New Jersey employers have added 101,500 jobs for an average monthly gain of 14,500.

Since April 2020, the state has recovered 722,500 total nonfarm employment, or about 99 percent, of all public and private sector job losses caused by the pandemic. The unemployment rate fell by 0.2 percentage points to 3.7 percent in July.

The revised June total nonfarm employment estimates show an increase of 9,000 jobs compared with May; preliminary estimates had shown an increase of 9,800. June’s unemployment rate was unchanged at 3.9 percent.

In July, seven out of nine major private industry sectors experienced job growth. Sectors that recorded employment increases were professional and business services (+4,900), education and health services (+4,200), trade, transportation, and utilities (+2,500), manufacturing (+1,100), other services (+800), construction (+700), and financial activities (+300). Leisure and hospitality (-2,400) was the only sector to record a loss, while information was unchanged. Month-over-month public sector employment decreased by 5,800 jobs, declining as a result of job loss at the local level (-7,200).

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