New Jersey lost 5,700 private-sector jobs in November, bringing the total loss of private-sector jobs over the past three months to 16,800, according to the monthly employment report released yesterday by the NJ Department of Labor and Workforce Development (LWD).
The three-month decline accounts for more than half of the 31,800 private-sector jobs lost in the first 11 months of 2008, a clear indication that the recession, which officially began one year ago for the nation, is deepening.
The November losses were spread across every major industry, including manufacturing (-1,600), construction (-500), and services (-3,500). The LWD also reported that the state’s unemployment rate rose to 6.1 percent in November from 6.0 percent the month before. New Jersey’s unemployment rate remains below the national average of 6.7 percent.
"Businesses throughout the state are struggling as they feel the full impact of this recession," said NJBIA President Philip Kirschner. "Unfortunately, conditions are likely to get worse before they get better. Fortunately, the state is moving swiftly to implement an economic-relief package that will benefit many employers."
Over the past 11 months, the biggest loss of private-sector jobs has come in services (down 13,800 or 0.5 percent) and manufacturing (down 13,600 or 4.4 percent). Construction employment is down by 4,400 jobs or 2.6 percent so far this year.
Over this same period, government employment in New Jersey has fallen by 2,600 jobs, or 0.4 percent, and total employment (public and private) has fallen by 34,400 jobs, or 0.8 percent, to 4,048,200.
Because the state's 2003-2007 employment expansion was so shallow, New Jersey now has 28,000 fewer private-sector jobs than it had eight years ago in December 2000, at the end of the 1990s expansion. |