Number of the Day: 9.2 percent

June 18, 2012 | Number of The Day

What’s the old saying about how figures can lie? This seems to be the case in last week’s New Jersey job numbers — although who might be showing a more truthful picture of the state’s employment picture is in the eye of the beholder.

Gov. Chris Christie announced last week that the state added 17,600 jobs
in May, which he said was the largest monthly gain in more than seven years.

At the same time, the federal government issued its new unemployment statistics, which showed New Jersey with growing rate of unemployment at 9.2 percent
, up from 9 percent earlier this year. Nationally, the rate is 8.2 percent.

The majority of the job boost was in the leisure and hospitality industry, which added 9,900 jobs as the summer tourism industry gets underway. The Christie administration pointed out that much of that was due to the opening of the new Revel entertainment resort in Atlantic City. Seasonal government jobs (4,700) were also added to the employment rolls. Meanwhile the financial (-4,800), construction (-3,900) and manufacturing (1,200) sectors lost jobs in May.