TRENTON, N.J. — New Jersey lost an estimated 25,600 nonfarm jobs in July, while the state’s unemployment rate edged down to 4.4%, according to preliminary employment estimates released Thursday.
Data produced by the U.S. Bureau of Labor Statistics showed the state had a seasonally adjusted employment level of 4,357,600 nonfarm jobs in July.
Despite the significant monthly decline, state officials cautioned that the size of the employment loss is likely overstated because seasonal adjustment factors do not adequately account for seasonal declines in professional and business services. July survey response rates were also lower than expected.
The unemployment rate fell by 0.1 percentage point, from 4.5% in June to 4.4% in July.
June employment estimates were revised downward. The state is now estimated to have lost 4,200 jobs from May to June, compared with a preliminary estimate of 300 jobs lost. The June unemployment rate remained unchanged at 4.5%.
Three of nine private-sector industries added jobs in July. Trade, transportation and utilities gained 600 jobs, while manufacturing and information each added 100.
Professional and business services recorded the largest monthly decline, losing 13,400 jobs. Leisure and hospitality lost 7,300 jobs, followed by private education and health services, down 2,700; construction, down 1,300; other services, down 1,100; and financial activities, down 900.
The public sector added 300 jobs during the month.
Over the past year, New Jersey lost 19,600 nonfarm jobs, including 20,000 jobs in the private sector.
Private education and health services was the only private industry sector to post a year-over-year increase, adding 26,400 jobs.
Year-over-year losses were recorded in leisure and hospitality, down 12,800; trade, transportation and utilities, down 8,000; professional and business services, down 7,000; construction, down 4,900; information, down 4,100; manufacturing, down 3,800; financial activities, down 3,300; and other services, down 2,500.
The public sector added 400 jobs over the year.
Preliminary employment estimates for August and revised July figures are scheduled to be released Sept. 17.
