New Jersey’s unemployment rate fell from 7.0% in October 2021 to 6.6% in November, Save Jerseyans, but as is so often the case in this state, the details of the Department of Labor and Workforce Development’s monthly jobs report paint a more complicated and troubling picture.
“We are still well higher than the national average (4.2%) but at least November showed some meaningful improvement. However, in contrast with the nation, where November saw a big drop in unemployment and a large increase in the labor force, New Jersey’s labor force was virtually unchanged (up a mere 700),” observed Dr. Charles Steindel, a former Chief Economist of the State of New Jersey in an analysis of the new numbers released by Garden State Initiative. “The longer-term stagnation in New Jersey’s workforce (November’s level was under the 2008 average) remains baffling, even taking into account our sluggish population growth.”
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You can check out GSI’s full report here.
The Murphy Administration’s report is over here.
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