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NJ unemployment rate falls to 7.1 percent

Local News | Mar 18, 2014

NJ unemployment rate falls to 7.1 percent

TRENTON, N.J. (AP) — Revised federal data suggests New Jersey’s unemployment rate declined more gradually last year than previously reported.

A report using numbers collected by the federal government was issued Monday by the state Labor Department. It also shows that the state’s unemployment rate is now 7.1 percent, the lowest it has been since December 2008.

Monthly reports showed the state’s unemployment rate declining by more than 1 percentage point from October to December, as people stopped looking for work.

The annual benchmarking of the data shows the decline was less dramatic.

The revised numbers show more job growth in the state last year than reported in the monthly updates. But there were more than twice as many private-sector jobs created in 2012 as the 19,000 added in 2013.

 

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