NJ Unemployment Rate Continues to Drop
More New Jersey residents found jobs in March as the unemployment rate dropped to 9 percent, down by 0.3 percentage points from February. Preliminary monthly data from the United State Bureau of Labor Statistics finds that private sector employees in the Garden State added 10,400 workers during the month.
The data suggests that 44,600 jobs have been added in the private sector over the past year.
Since February 2010, which was the lowest point for private sector employment during the recession, private sector employment has gone up by 127,800 jobs.
“Once again, jobs and unemployment are moving in the right directions, reflecting the growing strength in the state’s economy. Our labor force participation rate and employment-population rate remain well above the national averages and higher than a year ago,” said Charles Steindel, Chief Economist for the State Department of Treasury.