TRENTON, September 19, 2013 _ New Jersey’s unemployment rate moved lower for the second consecutive month in August, down by 0.1 percentage point to 8.5 percent from the July rate of 8.6 percent. The rate has dropped steadily over the past year, falling by more than a full percentage point since August 2012 to reach the lowest level since March 2009.

The long-term employment trend remains positive, with private sector employment in New Jersey expanding by 60,300 jobs over the past year (August 2012 – August 2013). Furthermore, since February 2010, the recessionary low point for private sector employment, private sector employment has increased by 142,400 jobs. Preliminary estimates indicate that total nonfarm wage and salary employment in New Jersey decreased modestly in August by 1,500 jobs, to a seasonally adjusted 3,958,700, as measured by the United States Bureau of Labor Statistics (BLS) through its monthly employer survey.

“The state has had strong job gains over the last year and a major decline in unemployment with the rate dropping steadily, falling by more than a full percentage point since August 2012. Considering we're looking at the lowest unemployment rate since March 2009 and we saw vigorous job growth last fall, we are hopeful we will see a repeat,” said Charles Steindel, Chief Economist for the New Jersey Department of Treasury.

Jobholding in the public sector was unchanged in August, as the decline occurred solely in the private sector. Based on more complete reporting from employers, previously released July estimates were revised higher, up by 1,100, to show an over-the-month (June – July) total nonfarm employment loss of 10,700 jobs.

In August, private sector job gains were posted in five of nine major industry sectors while four recorded a loss. Industries that added employment included education and health services (+2,800), leisure and hospitality (+2,100), trade, transportation and utilities (+1,900), manufacturing (+600), and other services (+200). Job loss occurred in professional and business services (-5,900), financial services (-2,400), information (-700), and construction (-100).

Public sector employment was unchanged in August. Gains at the state (+600) and federal (+100) levels were counterbalanced by a drop in local government employment (-700).

Over the month, the unadjusted workweek for production workers decreased 0.3 hours to 40.6 hours, average hourly earnings were higher by $0.39 to $19.26 and weekly earnings rose by $10.18 to $781.96. Compared to August of last year, the unadjusted workweek decreased by 0.3 hours, average hourly earnings decreased by $0.37, and weekly earnings were lower by $20.91.

Technical Notes: Estimates of industry employment and unemployment levels are arrived at through the use of two different monthly surveys.

Industry employment data are derived through the Current Employment Statistics (CES) survey, a monthly survey of business establishments conducted by the US Bureau of Labor Statistics (BLS) of the US Department of Labor, which provides estimates of employment, hours, and earnings data broken down by industry for the nation as a whole, all states, and most major metropolitan areas (often referred to as the “establishment” survey).

Resident employment and unemployment data are mainly derived from the New Jersey portion of the national Current Population Survey (CPS), a household survey conducted each month by the US Census Bureau under contract with BLS, which provides input to the Local Area Unemployment Statistics (LAUS) program (often referred to as the “household” survey).

Both industry and household estimates are revised each month based on additional information from updated survey reports compiled by BLS. In addition, these estimates are benchmarked (revised) annually based on actual counts from New Jersey’s Unemployment Compensation Law administrative records and other data.