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March 13, 2018

Revised data released by the U.S. Bureau of Labor Statistics (BLS) indicates the New Jersey labor market added 43,400 jobs in 2017. Preliminary estimates for January 2018 show the trend continuing, with a monthly total nonfarm job gain of 13,000, with the state's unemployment rate holding steady at 4.7 percent.

The revised data shows that over the December 2016 - December 2017 period, five of nine major private-industry sectors added jobs: education and health services (+20,300); trade, transportation, and utilities (+15,300); leisure and hospitality (+8,500); manufacturing (+3,200); and other services (+2,000). Sectors that recorded job losses were construction (-2,800), information (-2,600), and professional and business services (-1,000). The financial activities sector was unchanged. Government employment was higher by 500 jobs.

Preliminary nonfarm wage and salary estimates for January show an increase in total nonfarm farm employment of 13,000 jobs over the previous month, reaching a seasonally adjusted level of 4,159,800. The majority of the gain was recorded in the private sector (+11,100).

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