NJDOL: Employment Lower in December
Employment Lower in December
December Unemployment Rate Remains at 4.0 Percent
TRENTON – Preliminary monthly estimates released by the U.S. Bureau of Labor Statistics indicate that New Jersey total nonfarm employment decreased by 2,600 jobs in December, to reach a seasonally adjusted total of 4,208,700, while the state’s unemployment rate held steady at 4.0 percent.
A preliminary over-the-year analysis shows that from December 2017 – December 2018, New Jersey employers added 61,900 jobs. All of the gains were recorded by private sector employers (+61,900); public sector employment was unchanged through the year.
The year 2018 represents the ninth consecutive year New Jersey has recorded private sector job growth. Since February 2010 (the recessionary low point for private sector employment), New Jersey’s private sector employers have added 403,900 jobs.
Based on more complete reporting from employers, the previously released total nonfarm employment estimate for November was revised lower by 100 to show an over-the-month (October – November) decrease of 1,900 jobs. Preliminary estimates had indicated an over-the-month decrease of 1,800 jobs. The state’s revised November unemployment rate was unchanged at 4.0 percent.
In December, employment decreases were recorded in five out of nine major private industry sectors. Industry sectors that lost jobs over the month included trade, transportation, and utilities (-2,400), education and health services (-1,500), information (-200), professional and business services (-200), and leisure and hospitality (-200). Industries that added jobs over the month include other services (+900), financial activities (+500), construction (+400), and manufacturing (+400). Over the month, public-sector employment was lower by 300 jobs.
Benchmarked data from the U.S. Bureau of Labor Statistics, which will present a more complete picture of the New Jersey economy for the entire calendar year of 2018, will be released on March 11.
Technical Notes: Estimates of industry employment and unemployment levels are arrived at through the use of two different monthly surveys.
Industry employment data are derived through the Current Employment Statistics (CES) survey, a monthly survey of approximately 4,000 New Jersey business establishments conducted by the U.S. Bureau of Labor Statistics (BLS) of the U.S. Department of Labor, which provides estimates of employment, hours, and earnings data broken down by industry for the nation as a whole, all states and most major metropolitan areas (often referred to as the “establishment” survey).
Resident employment and unemployment data are mainly derived from the New Jersey portion of the national Current Population Survey (CPS), a household survey conducted each month by the U.S. Census Bureau under contract with BLS, which provides input to the Local Area Unemployment Statistics (LAUS) program (often referred to as the “household” survey).
Both industry and household estimates are revised each month based on additional information from updated survey reports compiled by the BLS. In addition, these estimates are benchmarked (revised) annually based on actual counts from New Jersey’s Unemployment Compensation Law administrative records and more complete data from all New Jersey employers.
Effective with the release of January 2018 estimates, the Current Employment Statistics (CES) program has converted to concurrent seasonal adjustment, which uses all available estimates, including those for the current month, in developing seasonal factors. Previously, the CES program developed seasonal factors once a year during the annual benchmark process. For more information on concurrent seasonal adjustment in the CES State and Area program, see www.bls.gov/sae/saeconcurrent.htm.
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