From the APP:
New Jersey employers tamped down their hiring in May and are growing more pessimistic about their outlook, a series of reports released this week shows.
The New Jersey Department of Labor and Workforce Development reported Thursday that New Jersey lost 7,600 jobs in May. Its unemployment rate dipped to 3.8 percent — the lowest level since April 2001. But the jobless rate’s decline was due in part because fewer people were in the labor force.
And the Federal Reserve Bank of Philadelphia reported that manufacturing sector’s growth in the region that includes southern New Jersey and parts of Pennsylvania fell in June and showed muted optimism for the rest of the year.
Analysts hope it is simply a spring slump. But the state might be starting to feel the impact of higher tariffs.