THE MONTHLY PAYROLL employment report released by the state Department of Labor and Workforce Development for September provides the last snapshot of the state economy before the global financial crisis spread and intensified.
Economic Heartbeat N.J. Employment Losses Intensify in September Higher-paying sectors, like financial activities, led the broad decline, though unemployment rate eases slightly This monthly report was prepared for NJBIZ by James W. Hughes, dean of the Edward J. Bloustein School of Planning & Public Policy at Rutgers University; Nancy H. Mantell, director of the Rutgers Economic Advisory Service; and Joseph J. Seneca, university professor, Edward J. Bloustein School. Change in New Jersey Payroll Employment (August 2008 to September 2008 - Seasonally Adjusted) THE MONTHLY PAYROLL employment report 1,800 jobs, continuing its pattern of decline. So released by the state Department of Labor and far this year, we’ve lost 9,900 manufacturing Change in Jobs Workforce Development for September provides jobs. While professional and business services Total Nonfarm -3,900 the last snapshot of the state economy before the added 200 jobs in September, this was the result global financial crisis spread and intensified. of a gain of 1,300 jobs in the waste management Total Private Sector -3,700 Employment losses in September, follow- and administrative support subsector. This Goods Producing -2,600 ing the national trend for the month, accelerat- masked losses in the higher-paying subsectors Natural Resources and Mining 0 ed in New Jersey, portending very significant of professional, scientific and technical servic- Construction -800 declines during the balance of the year and deep es (lost 1,000 jobs), and management of com- Manufacturing -1,800 into 2009 as the aftershocks of the global credit panies and enterprises (down 100 jobs). crisis reverberate through the broader economy. In addition, construction lost 800 jobs as Private Service-Providing -1,100 The loss of 3,900 total payroll jobs in Sep- the housing bust continued to deepen, informa- Trade, Transportation & Utilities 200 tember brought the 2008 total employment tion lost 600 jobs and jobs in wholesale trade Information -600 decline to 21,100 jobs this year, measured declined by 500 as consumer retrenchment con- Financial Activities -1,900 December 2007 to September 2008. Similarly, the tinued. Other losses were registered in the below- Professional and Business Services 200 private sector lost 3,700 jobs in September, bring- average paying sectors of arts, entertainment Educational and Health Services 1,000 ing its yearly decline to 18,700 jobs. Surprisingly, and recreation (down 1,100 jobs), educational Leisure and Hospitality 100 during September, state government added 400 services (lost 100 jobs), and other services (down jobs, while local government shed 400 jobs. Since 100 jobs). Accommodations and food services Other Services -100 federal government employment declined by (added 1,200 jobs), and health care and social Government
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