Contact Us
Make My Homepage

More Jobs, Fewer Layoffs in New Jersey

Adding to signs that the job market is strengthening, the Labor Department says fewer folks in New Jersey and nationwide are seeking unemployment benefits. 

(FLickr: Phillie Casablanca)

Nationally, applications for unemployment benefits dropped 14,000 to a seasonally adjusted 351,000.  That matches a four-year low reached last month.  When unemployment benefit applications drop consistently below 375,000, it usually signals that hiring is strong enough to lower the unemployment rate.

In New Jersey, new claims fell below the pre-recession average and continuing claims, while seasonally elevated, trended downward.  “For more than two years now, there has been a downward trend in the number of individuals receiving regular benefits,” said Pat O’Keefe, Director of Economic Research at J.H. Cohn in Roseland.  “While, we can’t say it’s a robust recovery, it is now a sustained one.”

“This sustained growth is still occurring against the backdrop of a very significant, negative experience for the state’s labor market and we still have a long way to go,” said O’Keefe.  “What we’ve got now is normal turnover in the labor market.  There are always jobs being created or disappearing and those things continue whether the economy is weak or strong.  But, we’re seeing it now at levels that suggest that, here in New Jersey, our labor market is improving.  Employment levels have not only stabilized, but are gradually moving up.”

Audio clip: Adobe Flash Player (version 9 or above) is required to play this audio clip. Download the latest version here. You also need to have JavaScript enabled in your browser.

RELATED:

Best of the Web


Leave a Comment

It appears that you already have an account created within our VIP network of sites on . To keep your points and personal information safe, we need to verify that it's really you. To activate your account, please confirm your password. When you have confirmed your password, you will be able to log in through Facebook on both sites.

Forgot your password?

*Please note that your points, prizes and activities will not be shared between programs within our VIP network.

It appears that you already have an account on this site associated with . To connect your existing account with your Facebook account, just click on the account activation button below. You will maintain your existing profile and VIP program points. After you do this, you will be able to always log in to http://nj1015.com using your Facebook account.

*Please note that your points, prizes and activities will not be shared between programs within our VIP network.

Please fill out the information below to help us provide you a better experience.

Register on New Jersey 101.5 quickly by logging in with your Facebook account. It's just as secure, and no password to remember!

Not a Member? Sign Up Here.

Sign up for an account to comment, share your thoughts, and earn points to get great prizes.

Register on New Jersey 101.5 quickly by logging in with your Facebook account. It's just as secure, and no password to remember!