State enjoyed best monthly job growth

TRENTON — Preliminary estimates by the United States Bureau of Labor Statistics showed total nonfarm employment in New Jersey moved lower in April, while revised estimates for March showed a much larger increase in employment than initially reported, making March the best single month for job growth since February 1996.
Preliminary estimates for April indicate total nonfarm employment dipped in New Jersey, down by 7,500 jobs, as the state’s unemployment rate ticked up to 4.7 percent. However, based on more complete reporting from employers, the previously released employment estimates for March showed it to be the best single month for job growth in over 20 years. March estimates were revised up by 4,700 jobs to show an over-the-month total nonfarm employment gain of 22,000 jobs instead of the 17,300 initially reported.
The long term trend remains positive, with nonfarm employment up by 63,900 jobs over the past year. New Jersey’s private sector employers have added 258,400 jobs since February 2010, the recessionary low point for private sector employment in the state.
The state’s unemployment rate has fallen 1.3 percentage points over the year and remains well below the national rate of 5.0 percent. Additionally, the state’s labor force participation rate, which measures the number of people employed or actively seeking work, grew for a third consecutive month to 64.4 percent, 1.6 percentage points higher than the national rate of 62.8 percent.
Industries that experienced employment gains in April included trade, transportation and utilities (+1,300), manufacturing (+1,100) and financial activities (+800). Sectors that experienced contraction were professional and business services (-6,700), information (-1,800), construction (-1,800), leisure and hospitality (-1,800), education and health services (-1,600) and other services (-200).
The public sector recorded a gain of 3,300 jobs.