From the Record:
New Jersey employment declined by 4,700 jobs in July, according to preliminary data from the United States Bureau of Labor Statistics, following a strong jobs report in June. The jobless rate rose to 5.2 percent last month from 5.1 percent.
The latest data puts the brakes on job-creation momentum in the state. In June, New Jersey’s private sector added 22,200 jobs in June, its best month since February 1996. The jobs total was lifted by the return to work of thousands of striking Verizon employees. The jobs report today said previously released June estimates were revised lower by 4,200, to show an over-the-month non-farm employment gain of 16,100 nonfarm jobs.
“The downward revision to June’s payroll figure is unsurprising given how strong the preliminary estimate was. This combined with July’s job loss clearly illustrates the volatility that has characterized monthly payroll growth throughout 2016,’’ said James Wooster, chief economist for the New Jersey Department of Treasury, in a statement.
Sectors that contracted in July were construction (-3,200), professional and business services (-2,400), leisure and hospitality (-1,600) and information (-400). The public sector recorded a loss of 300 jobs.
Industries that gained employment in July included education and health services (+1,000), manufacturing (+900), financial activities (+800), other services (+400), and trade, transportation and utilities (+200).