New Jersey’s unemployment rate jumped to a 35-year high of 9.8 percent in July, the state Labor Department said.
The rate climbed from 9.6 percent in June and is above the national level of 8.3 percent, which also increased last month. New Jersey lost 12,000 jobs in July, with the largest drops in manufacturing, construction, and professional and business services, the department said in a statement today.
“The national economy has been sluggish, and, realistically, we can’t be exempt,” Charles Steindel, chief economist for the state Treasury Department, said in the statement. “Considering we have seen job growth in nine out of the past 11 months, we anticipate that job growth should resume and start to put some downward pressure on unemployment.”
via New Jersey Jobless Rate Increases to 35-Year High of 9.8% – Bloomberg.
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