While many economists are forecasting a recession or continued inflationary period, New Jersey’s labor market continues to thrive. In November, the private sector added 11,400 jobs, according to the Department of Labor and Workforce Development. The state has been on a steady streak of job growth since May 2020 — 31 consecutive months now. 

New Jersey’s unemployment rate sits at 3.4%, lower than the national 3.7%. November’s job growth was mostly in the education and health services sectors, with more than 5,300 jobs added. Meanwhile the hospitality sector lost 1,800 jobs. While the construction sector gained 1,600 jobs, manufacturing lost 600 positions. Overall, employment in New Jersey is at a seasonally adjusted level of 4,257,900 — and growing.