From the NJ Department of Labor and Workforce Development:
Job losses slowed in May as New Jersey employers reduced employment by 6,200 over the month, the smallest monthly drop since September 2008. The state’s unemployment rate moved to 8.8 percent while remaining lower than the national rate of 9.4 percent.
According to preliminary estimates from the New Jersey Department of Labor and Workforce Development’s monthly survey of employers, nonfarm wage and salary employment in the Garden State decreased by 6,200 jobs in May, to a total of 3,935,100. The loss was less than half the average monthly drop over the most recent six-month period (-16,000) and mirrors the employment pattern nationally. The previously released April estimate was revised lower by -4,300 for a revised March-to- April loss of 18,700.
“In May, New Jersey’s employment losses somewhat moderated from those of previous months,” said New Jersey Labor Commissioner David J. Socolow. “Through Governor Corzine’s leadership New Jersey is investing state and federal resources in needed infrastructure upgrades. These important projects will help generate jobs for our citizens and help the economy rebound from the global economic recession.”
Over the month, six of ten private industry sectors realized losses while four recorded gains. Public sector employment was higher by 400. The largest losses occurred in trade, transportation and utilities (-5,800), construction (-4,900) and information (-1,100). Increasing jobs in heavy and civil engineering construction, mainly due to infrastructure projects getting underway, were not enough to offset contractions in commercial and residential construction. In trade, transportation and utilities the majority of the loss was in retail trade.
Job gains were concentrated in leisure and hospitality (+5,200) and other services (+1,300). Hiring was evident in both the accommodation and food services, and arts, recreation, and amusements components of leisure and hospitality as businesses ramp up for the summer season. The gain in other services was due to higher payrolls at businesses such as automotive repair services, personal care services and business/professional organizations.