New Jersey’s economy added 13,600 jobs in May but still hasn’t recovered 44% of the jobs that disappeared last March and April when pandemic-related shutdowns were imposed.
Last March and April, the number of jobs in New Jersey plunged by 717,200, nearly 17%. It has gained jobs every month since then except one, adding 403,000 positions in total – but still remaining 314,200 short of the pre-pandemic peak.
At the rate jobs have been added so far in 2021, it would take until the end of 2023 for the economy to recover its pandemic losses.
But next month’s report could look different. The state Department of Labor and Workforce Development noted that the survey took place before pandemic-related restrictions on New Jersey businesses were lifted in late May, so any impact on jobs would become evident next report, issued July 15.
Leisure and hospitality businesses added 6,200 jobs, followed by 3,000 more trade, transportation and utilities jobs and 2,500 more jobs in education and health services. Seven of nine sectors gained jobs, but losses were recorded in construction of 2,200 and financial activities of 400.