State unemployment drop continues

TRENTON — Following three consecutive months of gains, New Jersey employers reported fewer jobs in April as the unemployment rate edged lower by 0.1 percentage point to 4.5 percent.
Total nonfarm wage and salary employment decreased by 7,200 in April to a seasonally adjusted level of 4,174,300, according to preliminary estimates produced by the U.S. Bureau of Labor Statistics. The majority of the decline occurred in the private sector (-6,200) of the state’s economy.
Based on more complete reporting from employers, previously released total nonfarm employment estimates for March were revised higher by 1,200 jobs to show an over-the-month (February–March) increase of 6,300 jobs. Preliminary estimates indicated an over-the-month gain of 5,100 jobs.
Looking at the longer term, April 2017–April 2018, employment in New Jersey was higher by 58,600 jobs, with the majority of the gains recorded by private-sector employers (+55,600). New Jersey’s private-sector employers added 368,800 jobs since the February 2010 low point of the recession.
In April, employment decreases were recorded in five out of nine major private-industry sectors. Industry sectors that lost jobs over the month include professional and business services (-4,100), trade, transportation, and utilities (-2,000), financial activities (-2,000), leisure and hospitality (-400), and information (-300). Job gains over the month occurred in the manufacturing (+1,100), construction (+700), education and health services (+500), and other services (+300) sectors. Public-sector employment was lower by 1,000 jobs over the month.
Preliminary BLS data for May 2018 will be released on June 14, 2018.