New Jersey’s labor market showed stability in June, with non-farm employment seeing a modest increase of 600 jobs, reaching a total of 4,338,300 jobs, all of which were in the private sector. The state’s unemployment rate ticked up slightly to 3.7 percent. Despite this, NJ’s overall labor market continued to grow steadily, with the labor force participation rate reaching 65.4%, the highest since March 2013, and the employment population ratio reaching 63%, the highest since September 2008.
Regarding job sectors, 4 out of 9 private industries experienced job growth in June, including education and health services, leisure and hospitality, information, and other services. Sectors like professional and business services, financial activities, manufacturing, trade, transportation, utilities, and construction recorded job losses. Public sector jobs also saw an increase of 5,000 over the year.