03/28/2014
New Jersey lost 3,700 jobs in February as the jobless rate stayed the same at 7.1 percent in another demonstration that the state's economy is struggling.
The state lost 4,900 private-sector jobs while adding 1,200 government posts, according to the monthly employment report released by the New Jersey Department of Labor and Workforce Development.
The jobless rate of 7.1 percent in January is still higher than the national level of 6.7 percent.
The lackluster report was bolstered by an upward revision of the state's January employment picture, showing that the state added 4,200 jobs instead of the previously announced loss of 3,900 jobs.
The state has added 500 jobs in the first two months of the year. The state added 18,800 jobs in all of 2013, well below the 43,900 added the previous year.
"The winter has clearly affected the state's job market," said Charles Steindel, chief economist for the New Jersey Department of Treasury. "The large and welcome upward revision for January suggests that in these conditions the preliminary numbers may be less reliable than usual. We anticipate that the numbers should get better with the weather."
The biggest February losses came in the leisure and hospitality sector, which shed 4,800 jobs, and financial activities, which lost 3,200. The construction sector declined by 2,000 jobs.
The biggest increase came in the trade, transportation and utilities area, which added 3,400 jobs, and professional and business services, which gained 2,700 jobs.
source
New Jersey lost 3,700 jobs in February as the jobless rate stayed the same at 7.1 percent in another demonstration that the state's economy is struggling.
The state lost 4,900 private-sector jobs while adding 1,200 government posts, according to the monthly employment report released by the New Jersey Department of Labor and Workforce Development.
The jobless rate of 7.1 percent in January is still higher than the national level of 6.7 percent.
The lackluster report was bolstered by an upward revision of the state's January employment picture, showing that the state added 4,200 jobs instead of the previously announced loss of 3,900 jobs.
The state has added 500 jobs in the first two months of the year. The state added 18,800 jobs in all of 2013, well below the 43,900 added the previous year.
"The winter has clearly affected the state's job market," said Charles Steindel, chief economist for the New Jersey Department of Treasury. "The large and welcome upward revision for January suggests that in these conditions the preliminary numbers may be less reliable than usual. We anticipate that the numbers should get better with the weather."
The biggest February losses came in the leisure and hospitality sector, which shed 4,800 jobs, and financial activities, which lost 3,200. The construction sector declined by 2,000 jobs.
The biggest increase came in the trade, transportation and utilities area, which added 3,400 jobs, and professional and business services, which gained 2,700 jobs.
source
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