January 25, 2022
Summary
New Jersey added 10,100 net payroll jobs and the unemployment rate fell by 0.4 percentage point to 6.3 percent in December, according to Bureau of Labor Statistics (BLS) data released at 10:00am on January 25, 2022.
Over the past twelve months, New Jersey added 208,700 payroll jobs and the unemployment rate fell by 1.4 percentage points from 7.7 percent.
In December, New Jersey’s private sector added 9,400 net private payroll jobs and over the past twelve months it added 191,900 private payroll jobs in the establishment survey.
In the household survey, the number of unemployed fell by 16,378 on net in December, and over the past year employment rose by 126,168.
New Jersey’s labor force participation rate rose to 62.9 percent in December from 62.8 percent. Since last year, the labor force participation rate rose by 1 percentage point.
The national unemployment rate fell by 0.3 percentage point in December to 3.9 percent. State employment and unemployment data for January is scheduled for release March 14, 2022. The national employment situation report for January will be released February 04, 2022.
New Jersey Payroll Employment
New Jersey added 10,100 net payroll jobs, or 0.2 percent, on a seasonally adjusted basis during December. In the prior month, New Jersey added 28,400 jobs. Over the past twelve months, New Jersey added 208,700 payroll jobs, or 5.4 percent. New Jersey nonfarm payroll employment had increased in each of the past 12 months.
Nationally, nonfarm payrolls rose by 199,000 in December, or rose by 0.1 percent. Over the 12-month period ending with December, nonfarm payrolls rose by 6,448,000 jobs, or 4.5 percent. New Jersey ranks 14th among the 50 states and the District of Columbia for percentage gain in nonfarm payroll employment over the past 12 months.
During December, New Jersey’s private-sector added 9,400 jobs, or approximately 0.3 percent. The private-sector in New Jersey added 30,100 jobs in the prior month. Over the past twelve months, private-sector payrolls in New Jersey added 191,900, or 5.8 percent. New Jersey private-sector payroll employment has increased in each of the past 12 months.
Nationally, private-sector payroll jobs rose by 211,000 jobs in December, or 0.2 percent. Over the past 12 months, the national payroll rose by 5,996,000 jobs in the private sector, or 5 percent. New Jersey is tied for 13th among the 50 states and the District of Columbia for a percentage gain in private-sector payroll employment over the past 12 months.
The best performing sectors on a seasonally adjusted basis during December were Leisure and Hospitality (3,800) and Manufacturing (2,700). The poorest performing sectors during the month were Mining and Logging (0) and Information (-900).
The best performing sectors during the last twelve months were Professional and Business Services (52,300) and Leisure and Hospitality (47,400). The poorest performing sectors during the last twelve months were Mining and Logging (100) and Information (-500).
New Jersey Labor Force Statistics
Labor Force Participation
The labor force participation rate in New Jersey rose to 62.9 percent in December from 62.8 percent in the prior month. At a labor force participation rate of 62.9 percent, New Jersey is tied for 21st in the nation. The labor force participation rate in New Jersey rose by 1 percentage point from a year earlier. The labor force participation rate is the percentage of the civilian noninstitutionalized population age 16 and older who are employed or actively looking for work.
The 10-year high for the labor force participation rate in New Jersey was 66 percent in December 2011. The series high for the labor force participation rate in New Jersey last occurred in June 1997 when the labor force participation rate hit 67.6 percent. The 10-year low for the labor force participation rate was 61.9 percent , last occurring in December 2020. The series low for the labor force participation rate in New Jersey last occurred in March 1976 when the labor force participation rate hit 61.4 percent.
The national labor force participation rate remained steady at 61.9 percent in December. That rate rose by 0.4 percentage point from a year earlier. The all-time high for the national labor force participation rate was 67.3 percent in April 2000. The 10-year high for the national labor force participation rate was 63.8 percent in October 2012. The recent 10-year low occurred in April 2020 at a level of 60.2 percent. The series low for the national labor force participation rate was 58.1 percent in December 1954.
Employment-to-Population Ratio
The employment-to-population ratio, or the percentage of the New Jersey civilian noninstitutionalized population 16 years and older counted as employed, in December rose to 59 from 58.6 percent in the prior month. At 59 percent, New Jersey is tied for 29th among state employment-to-population ratios in the nation. The employment-to-population ratio in New Jersey rose by 1.9 percentage points from a year earlier.
The 10-year high for the employment-to-population ratio in New Jersey was 62.4 percent in December 2019. The series high for the employment-to-population ratio in New Jersey last occurred in April 2000 when the employment-to-population ratio hit 64.4 percent. The 10-year low for the employment-to-population ratio was 52.8 percent in April 2020. This also represents the series low for the employment-to-population ratio in New Jersey.
The national employment-to-population ratio rose by 0.2 percentage point over the month to 59.5 percent in December. That rate rose by 2.1 percentage points from a year earlier. The all-time high for the national employment-to-population rato was 64.7 percent in April 2000. The 10-year high for the national employment-to-population ratio was 61.2 percent in February 2020. The recent 10-year low occurred in April 2020 at a level of 51.3 percent. The series low for the employment-to-population ratio was 51.3 percent in April 2020.