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Sunday, August 16, 2009


New Jersey Jobs

Finding jobs in New Jersey became more difficult in June, according to the most recent data from the Bureau of Labor Statistics. During the month the state’s unemployment rate jumped 0.4 percent from May’s 8.8 percent to 9.2 percent. Although this is significantly higher than the 5.2 percent rate New Jersey experienced last year, it was still somewhat lower than the national average of 9.5 percent.

According to the New Jersey Department of Labor and Workforce Development, total non-farm employment in the state fell by 2,100 jobs in June. This shows that job declines have slowed somewhat since April, when the state lost 18,700 jobs.

Still, a large number of positions were lost in the state’s thee highest-paying areas of employment in June, according to Combined employers in the information, financial activities, and professional and business services sectors did away with 4,700 jobs. Some experts believe that these important industries will have to begin to show signs of recovery before it will be possible for the rest of the job market to return to its previous health.

Since January of 2008 a total of 159,800 New Jersey jobs have been lost. The industry to lose the largest number of positions during this time period was the very important professional and business services sector. In around a year and a half employers in this industry did away with 48,700 positions.

During this time period the goods producing areas of employment also took a huge hit. Since money is now tighter for many Americans, many companies have decreased production. As a result of this, employers have had to cut staff members in order to keep their profit margins up. Altogether these industries lost 63,400 positions. Manufacturing saw the greatest decline, losing 33,700 jobs. The construction industry, hurt by the housing market slump, saw the loss of 29,800 jobs. Mining and logging, which added 100 positions, was the sector under this category to add jobs during the time period.

Aside from mining and logging, only three other areas of employment created new jobs in New Jersey between January 2008 and June 2009. The largest increase occurred in the education and health services sector, where employers added 12,000 new positions. The catch-all category other services followed, adding 3,000 positions. The government sector also created 900 new jobs.


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