New Jersey’s unemployment rate of 7.1 percent is the lowest it’s been since 2008.
What’s more, the federal Bureau of Labor Statistics (BLS) has released a revised 2013 benchmark rate, which is the result of an annual review and adjustment of previously released state-by-state employment data. It shows that for the past 18 months, New Jersey’s unemployment rate was previously below what had previously been stated and that employment growth was about double the preliminary results.
The state Department of Labor and Workforce Development said that New Jersey has added more than 65,000 private-sector jobs in the past two years. According to BLS, total private-sector jobs increased by 10.6 percent last year. Most of the increase was in the service sector, although manufacturing jobs did increase 1 percent. Public-sector jobs were cut by 5 percent.