New Jersey’s unemployment rate returned to double digits in November, increasing 2.2 percentage points to 10.2 percent, according to figures from the Department of Labor and Workforce Development.
About 58 percent, or 485,700, of the jobs lost because of the coronavirus pandemic have come back, according to the department.
Nonfarm wage and salary employment increased by a net 7,100 in November, with 2,600 public sector jobs lost and 9,700 jobs gained in the private sector. The majority of job losses in the public sector were at the federal level.
The trade, transportation and utilities sector led with the most jobs gained at 14,300 followed by education and health services at 2,900 and financial activities at 2,100. Other industries adding jobs were information, manufacturing and business and professional services. The hospitality, construction and other service areas lost jobs during November, according to the statistics.
“The upsurge in the labor force can be either a bad or good sign,” said Dr. Charles Steindel, former chief economist for the state of New Jersey and current Resident Scholar at the Anisfield School of Business at Ramapo College, who analyzed the numbers for the Garden State Initiative. “It’s not good that so many people have started looking for jobs the last two months and haven’t yet found them. However, the fact that people have started looking again may be a sign that they are a bit more confident about being successful in that search.”
The weekly job picture was a little brighter. The number of New Jersey residents making new claims for unemployment during the week ending December 12 was 16,368, a slight decrease from the previous week, according to DOL statistics. The labor department has distributed $20 billion in benefits since the COVID-19 pandemic began in March and 1.86 million New Jersey residents filed for unemployment.
“When we began the year at almost full employment, it was unfathomable we would be nearing year’s end having given out more than $20 billion in unemployment benefits to workers in need,” said Labor Commissioner Robert Asaro-Angelo. “We are now getting ready to distribute additional aid, and are hopeful Congress will act.”
Some New Jersey residents will lose their benefits when funding from the Coronavirus Aid, Relief and Economic Security Act expires on Dec. 26. Congress was still debating a second stimulus package Thursday that could include benefits for the self-employed and contract workers.
Another round of FEMA payments for lost wages is being processed for some workers. Those $300 payments should be received by Christmas, according to Asaro-Angelo.
