Recession Hits Jersey


N.J. unemployment falls to 3.3%; job growth slows in September

On Thursday, the U.S. Bureau of Labor Statistics announced total nonfarm wage and salary employment in New Jersey increased by 3,800 in September, reaching a seasonally adjusted level of 4,239,600.

Specifically, in September, public-sector employment grew by 8,200 jobs, while private-sector employment declined by 4,400.

So far in 2022, New Jersey employers have added nearly 123,000 jobs, and nearly 195,000 over the past 12 months.

The unemployment rate fell by 0.7 of a percentage point, to 3.3%, in September as many previously unemployed residents found new employment while others left the labor force.

In September, four out of nine major private industry sectors recorded job growth.

Sectors that recorded employment increases were:

  • Other services (+1,600);
  • Leisure and hospitality (+500);
  • Information (+300); and
  • Manufacturing (+100).

Sectors that recorded losses were:

  • Construction (-2,700);
  • Professional and business services (-2,700); and
  • Trade, transportation and utilities (-1,500).
This entry was posted in Economics, Employment, New Jersey Real Estate. Bookmark the permalink.

39 Responses to Recession Hits Jersey

  1. Hold my beer says:


  2. Very Stable Genius says:

    Trump’s stolen Mar-a-Lago documents included sensitive secret intel about China and Iran.

    Trump talked a big game about being tough on China, tough on Iran — and then he compromised America’s security for his own personal gain.

    Who did he share these documents with?

  3. The Great Pumpkin says:

    War probably coming.

    “A #XiJinping audacious enough to expel #HuJintao in front of everyone is capable of most anything. We must now prepare for the worst. #China #CCP”

  4. crushednjmillenial says:

    D State Senators seeking to tighten NJ Landlord-Tenant screening laws:

    In the bill linked below, Codey and Stack would tighten the conditions surrounding the tenant screening process. The bill would lock out of public view eviction proceedings for at least the first 60 days after filing, would permanently seal any eviction action wherein a tenant wins, and would limit consideration of certain prior eviction actions against a tenant.

    Jarringly, an eviction that is more than 3 years old cannot be “considered” by a landlord who is screening a prosepctive tenant. Also, a landlord is responsible for delivering any tenant screening document used to evaluate a prospective tenancy to the prospective tenant. Finally, I believe NJ might be alone among the 50 states in requiring a LL provide a notice explaining why a prospective tenancy was denied.

    My thoughts:
    (1) Bad policy to bar public access for the first 60 days – both landlords, tenants, and attorneys for either side currently have easy access to an eviction docket through eCourts to monitor a case, so sealing them for the first 60 days automatically drives up the costs to keep informed of what is going on in a case;
    (2) Better policy would be for a tenant to have the right to SEEK a seal, and make the standards for granting one very low;
    (3) With regard to limiting screnning to evictions less than 3 years old and compelling LL’s to deliver notices re screening criteria, this law would increase compliance costs for landlords. By increasing these compliance costs, this law drives NJ LL-T operations in the direction of NYC-style operations (wherein, you have strict 40X income requirements and other extreme vetting of tenants because it is so costly to deal with the bad ones).
    (4) This legislation is not necessary. While in NJ, there are many corporate and diligent LL’s that will auto-deny someone with an eviction, there are also a multitude of mom-and-pop small operators that own 5-unit buildings and similar that don’t do much hardcore screening. Currently, low screening is mostly-ok when evictions are processed normally (a 2 or 3-month window from first missed rent payment to the tenant being locked out is somewhat reasonably set off by the maximum 1.5 months of security deposit).

  5. Ex says:

    Love how quiet the MAGA-faggots on this board are.
    If Trump were in power all you’d hear about is hOw gReAt
    tHe mArKet is DOing…!??!

    Proud Gravy Seals.

  6. Roger says:

    Why is Ex spreading hate speech against the LGBTQ+ community?

  7. Phoenix says:

    Its just a Bimmer thing..
    Why is Ex spreading hate speech against the LGBTQ+ community?

  8. Juice Box says:

    Ex has man-o-pause. After age 40 it just gets tougher to be tough…. Between the hot flashes, rectal dryness and decline in hormone production he is one cranky son of a bitch.

    There are pills and patches and creme for it like Androderm…

  9. Hold my beer says:


  10. Roger says:

    Ex has come full circle turning into exactly the people he claims to hate coming here and using the f word. Could you imagine the outcry if a Republican used the f word?
    Grow up and stop being so immature.

  11. Juice Box says:

    101st Airborne 4,700 troops is now in Romania…..might get hot soon….

    Where is the AUMF from congress?

  12. Phoenix says:

    Where is the AUMF from congress?

    We have a President that is having flashbacks from 1945. He wants to make history and thinks it’s WW2.

    America is becoming more aggressive by the minute.

  13. The Great Pumpkin says:

    The IKEA Marriage Test

    Before you marry someone, go to IKEA together and a buy a piece of furniture.

    Bring it home and build it.

    If you can successfully navigate that entire process without wanting to kill each other, you’re ready to get married.

  14. The Great Pumpkin says:

    IKEA is a purpose built relationship minefield.

    Just when you think you’ve made it out alive, they have an entire section of random shit you definitely don’t need but somehow deeply want.

    “This massive photo of [insert city we’ve never been to] is perfect for the living room.”

  15. Hold my beer says:

    How often does the US have troops rotating through those eastern and central european countries. And what are only 4,700 guys going to do? Do we trust Ukraines army to make a breakthrough to link up if airborne gets dropped behind russian lines to take a nuclear power plant or dam?

  16. Ex says:

    Outrage!! You seditious twats should all be taken out and shot.

  17. Original NameGenerator says:


    This is for you.

    Explains X thinking. Add those red hats on top and I love Russia T-Shirt with Putin riding bare chested a horse named trump.

    BTW – I noticed some red hatter booger fisher trying to use my trademark humorous names. Well don’t – you don’t have the IQ or wit. Move to Alabama, you will improve both states’ IQ.

    I have posted since the beggining with names like Not (before stolen), Jaime Dimon evil eyebrow and many others. Always some lazy non-creative types takes it away.

  18. Fast Eddie says:

    From Frank Lunz on why he has no idea how it will end up:

    “He predicted that part of the problem will come from the fact that the vote “will look overwhelmingly Republican at midnight, and it won’t be as Republican when all the votes are counted,” because votes on Election Day are counted first, followed by ballots cast in early voting and then absentee ballots.”

    Just saying.

  19. Fabius Maximus says:

    “There are pills and patches and creme for it like Androderm…”

    There’s someone speaking from experience.

  20. Fabius Maximus says:

    “and it won’t be as Republican when all the votes are counted,”

    Except in those states like Florida where most of the Absentee Ballots are GOP due to Overseas Deployments. At that point they will scream that you can declare that D who was ahead at midnight and the AP algorithms will calculate that that the Absentee will have no impact into the final result.

  21. Fast Eddie says:

    Except in those states like Florida where most of the Absentee Ballots are GOP due to Overseas Deployments.

    And in states that are not like Florida, razor close races will turn blue in the wee hours of the morning. Papered over windows and other vote counting ‘techniques’ are assured.

  22. Phoenix says:

    America is wayyyyy more involved in this war than it would ever admit to.

    We are fighting the Russians.

  23. Fast Eddie says:

    What’s up with AOC doing the “street” lingo shit? Did you see the dance she did, too? This was at a town hall meeting where her constituents were… ahem… not too happy:

  24. leftwing says:

    Well, my Sunday morning news feed is upbeat….Go long wool blankets….

    Dozens of LNG-laden ships queue off Europe’s coasts unable to unload by Marwa Rashad and Belén Carreño (Reuters)

    Dozens of giant ships filled with super-cooled natural gas are waiting for unloading in Europe, where regassification capacity is tight and storage is rapidly filling ahead of the peak demand period this winter. [Link]

    BBC prepares secret scripts for possible use in winter blackouts by Severin Carrell and Jim Waterson (The Guardian)

    Ahead of a winter where the UK is likely to suffer severe electrical grid pressure, the national broadcaster is preparing scripts discussing the energy shortages. [Link]

  25. Phoenix says:

    Abortion takes a backseat to putting gas in your car or groceries on the table.

    “The liberal Navigator public tracking poll flashed a major warning sign for Democrats in mid-October, reporting a 20 percentage point jump since September in the share of independent voters concerned about the economy and gas prices.

    That was not the only data showing a turning of the tide in the battle for Congress. Regional challenges had shown up in internal Democratic polls from deep blue sanctums in the Pacific Northwest, New York and even Rhode Island, Democratic strategists say. Crime, a major focus of Republican advertising, has also risen as a major issue in several races.

    Candidates say they have felt the ground shift.

    “The economic concern is definitely worse, and I think that is probably part of what has corroded concern about abortion rights,” said Marie Gluesenkamp Perez, 34, a Democratic candidate for Congress in southern Washington State.”

  26. leftwing says:

    And for anyone with nothing else to do here’s 70+ pp on WFH….

  27. Phoenix says:

    A fifty cal could probably take them out. Sitting ducks.

    Dozens of LNG-laden ships queue off Europe’s coasts unable to unload by Marwa Rashad and Belén Carreño (Reuters)

  28. The Great Pumpkin says:

    Buying a 30 year treasury bond here yielding 4% would either be a complete disaster in persistent inflation or an incredible way to earn yield for decades in a deflationary nightmare.

  29. Phoenix says:

    Yup, that about sums it up. Government assisted taxpayer ripoff.

  30. Juice Box says:

    My wife went down to puerto vallarta for her annual college girlfriends getaway, place got hit with Hurricane Roslyn today some flooding etc. I gather there will be no tan lines from that trip just a hang over.

  31. 3b says:

    Fast; AOC is another poser, she likes to portray herself as growing up in the Bronx, when in actuality she grew up on the mean streets of Yorktown Heights in bucolic Westchester Co.

  32. Fast Eddie says:

    A CNN climate piece argues that your pets have a diet that is too meat-heavy, contributing to climate change. They suggest that you give your pet bugs to eat.

    I guess this will coincide nicely with the recommendation to club your baby to death like a harp seal pup to reduce inflation, too. See, who says the democrats don’t come up with solutions!

  33. leftwing says:

    “Yup, that about sums it up. Government assisted taxpayer ripoff.”

    Silence is consent.
    Inaction is consent.

  34. The Great Pumpkin says:

    “You gotta get long stocks at some point after peak inflation. The lows in equities are not necessarily at the same time as peak inflation. In fact this time you will need a peak inflation portfolio (o/w bonds) and then an overweight stocks portfolio for the lows in equities.”

  35. The Great Pumpkin says:

    Dear Financial Samurais,

    I’m not sure about your city, but San Francisco is highly inefficient and sometimes has corrupt officials. With a $14 billion annual budget, some folks can’t help but want to siphon funds for themselves.

    The latest example of inefficiency is a $1.7 million proposed public toilet in the Noe Valley neighborhood of San Francisco. This is for a single stall!

    Cost highlights:
    $750,000 construction cost
    $300,000 for architecture and engineering fees
    $175,000 project management
    $150,000 for construction management
    $75,000 for soft cost reserve
    $40,000 for utility and topography survey
    $20,000 for contract preparation
    $30,000 for cost estimator
    $25,000 for Department of Building Inspection Permit
    Below is an example of a single $1.6 million public toilet facility built in San Francisco. And no, the tiles are not made out of gold.

    I highlight this example of government waste to motivate you into protecting your income and wealth from the government. Some recommendations include:

    Increase your percentage of total income coming from passive investment income, which gets taxed at a lower rate than active income.

    Start a business so you can contribute to a Solo 401(k) and shield some of your income via legitimate business expenses. If your side business or business makes enough, you can technically contribute up to $61,000 in 2022 and $66,000 in 2023 to a Solo 401(k) plan.

    Set up a revocable living trust so you don’t have your estate stuck in expensive probate court for the entire public to see. The less wealthy you are, the more you may need a revocable living trust to save money.

    Get a term life insurance policy to protect your dependents as the payout is tax-free for those with estate values below the estate tax threshold. As a result, the higher your marginal income tax rate, the more valuable a term life insurance policy payout is.

    Proactively downgrade your property’s statistics online to lower your property’s estimated value on Redfin, Zillow, etc. Your city will likely unlikely do the right thing and automatically lower your assessed value to lower your property taxes in a downturn.

  36. Ex says:

    For years, the largest private Hasidic Jewish school in New York State illegally diverted millions of dollars from a variety of government programs, paid teachers off the books and requested reimbursements for meals for students that it never actually provided, the yeshiva’s operators admitted in federal court on Monday.

    As part of the widespread fraud, school officials took money intended to feed children and used it to subsidize parties for adults, federal prosecutors said.

    In order to avoid facing criminal charges, the school, the Central United Talmudical Academy in Williamsburg, Brooklyn, agreed to pay fines and restitution totaling more than $8 million, according to a deferred prosecution agreement filed Monday in Federal District Court in Brooklyn.

    “Today’s admission makes clear there was a pervasive culture of fraud and greed in place at C.U.T.A.,” said Michael J. Driscoll, assistant director in charge of the F.B.I.’s New York office, referring to the school by its initials in a statement. “We expect schools to be places where students are taught how to do things properly. The leaders of C.U.T.A. went out of their way to do the opposite.”

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