New Jersey’s unemployment rate fell by 0.2 percentage point to 9.2 percent last month, the lowest since May 2009, as businesses recruited workers, according to the state’s labor department and data compiled by Bloomberg.
Total employment in the state rose by 2,600 jobs to 3.8 million, with all the gains coming from companies hiring in October. The federal, state and local government workforce shrank 2,200 overall while private businesses created 4,800 jobs, the department said in a news release today.
Businesses in the state have added a net 1,500 jobs this year through October, compared with 111,000 jobs eliminated during the same period a year earlier, the figures show.
New Jersey lost 16,100 jobs in September, according to revised data, compared with a preliminary estimate of 20,200 jobs lost, the department said.
The state’s unemployment rate was below the national unemployment rate of 9.6 percent in October, according to the Bureau of Labor Statistics.
Industries that hired the most last month include professional and business services that added 2,700 jobs, and financial services, which added 1,600, the state said.