November 2024 | Released December 19, 2024
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United States Employment Snapshot
In November, among the 50 states and the District of Columbia unemployment fell in 6, rose in 25, and remained unchanged in 20.
The highest unemployment rate was 5.7 percent in Nevada, and the lowest was 1.9 percent in South Dakota. Nationally, the unemployment rate rose by 0.1 percentage point to 4.2 percent.
In November, payroll jobs rose in 39 states and fell in 12. The largest payroll job percent increase was 0.9 percent in Washington. The largest payroll job percent decline was 0.3 percent in Vermont.
New Jersey Employment Snapshot
In November, New Jersey added 3,100 net payroll jobs and the unemployment rate fell by 0.1 percentage point to 4.6 percent. In the prior month, New Jersey remained unchanged with 0 net payroll jobs.
Over the past 12 months, New Jersey added 38,400 net payroll jobs and the unemployment rate fell by 0.2 percentage points from 4.8 percent.
Nationally, nonfarm payrolls rose by 227,000 in November, or 0.1 percent. New Jersey is tied for 40th in the nation for percentage gain in nonfarm payroll employment over the past 12 months.
In November, New Jersey’s private sector added 2,400 net private payroll jobs, and over the past 12 months it added 30,900 private payroll jobs. In the prior month, New Jersey lost 200 net private payroll jobs.
In November, employment in New Jersey fell by 3,404, and over the past 12 months it rose by 14,856.
New Jersey’s labor force participation rate fell to 64.5 percent in November from 64.6 percent and ranks 20th in the nation. In the past 12 months, the labor force participation rate has fallen by 0.3 percentage points.
New Jersey Payroll Employment
New Jersey added 3,100 net payroll jobs, or 0.1 percent, on a seasonally adjusted basis during November. In the prior month, New Jersey remained unchanged with 0 jobs. New Jersey nonfarm payroll employment has increased in 7 of the past 12 months.
Nationally, nonfarm payrolls rose by 227,000 in November, or 0.1 percent. New Jersey is tied for 40th in the nation for percentage gain in nonfarm payroll employment over the past 12 months.
New Jersey added 2,400 private sector jobs, or 0.1 percent. on a seasonally adjusted basis during November. In the prior month, New Jersey lost 200 jobs. New Jersey private sector payroll employment has increased in 7 of the past 12 months.
Nationally, private sector payroll jobs rose by 194,000 jobs in November, or 0.1 percent. New Jersey ranks 39th in the nation for percentage gain in private sector payroll employment over the past 12 months.
The best performing sectors on a seasonally adjusted basis during November were Education and Health Services (5,700) and Leisure and Hospitality (2,000).
The poorest performing sectors during the month were Professional and Business Services (-2,800) and Trade, Transportation, and Utilities (-3,500).
The best performing sectors during the last 12 months were Education and Health Services (45,600) and Government (7,500).
The poorest performing sectors during the last 12 months were Information (-6,300) and Professional and Business Services (-11,900).
New Jersey Labor Force
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 labor force participation rate in New Jersey fell to 64.5 percent in November from 64.6 percent in the prior month.
New Jersey ranks 20th in the nation.
The 10-year high for the labor force participation rate in New Jersey was 65.1 percent occurring in June 2023, and the 10-year low was 60.6 percent in April 2020.
The national labor force participation rate fell by 0.1 percentage points to 62.5 percent in November.