One of the most dramatic consequences of the recent recession crisis has been the loss of jobs, which was reported in 2009 to have been in excess of 173,000 in New Jersey, as companies struggled with slumping sales and other business difficulties.
Recent 2010 statistical findings have shown that the NJ job market has begun to show promising results for New Jersey professionals as well as for those recently entering or re-entering the job market.
NJ Unemployment claims during the week ending July 17th were stated to be 23% higher than those for week
ending July 24th, which were stated to be 9,760, according to the US Department of Labor’s Bureau of Labor.
For the week ending July 24, 2010, NJ was also reported to have 173,215 continued unemployment claims, down 2% from the previous week. Also reported was fewer layoffs in construction, trade, service, and manufacturing jobs. Manufacturing News Inc. reported a loss of 29K+ manufacturing jobs since December 2007 and a loss of almost 18K industrial jobs from 2008 to December 2009. Recent statistics, as those mentioned above, serve promising for the future of manufacturing jobs.
National outlook shows job additions in the 2010 US private sector. The BLS reported 71,000 jobs were added nationwide to the private sector by week ending July 31, 2010. Due to the elimination of census jobs, the BLS attributes the initial unemployment claims increase of 19,000 to 479,000 from the week prior to July 31, 2010.
The US unemployment rate is currently 9.5% while New Jersey’s unemployment rate is 9.3%, as of July 31st, 2010.
Posted by: Anne-Kathrin Dammel
Marketing Coordinator,Complete Personnel Services
(908) 704-1550 ext. 21
adammel@completepersonnel.com
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