Unemployment jumps in February in N.J. to 8.2 percent

[The Star Ledger]

Unemployment jumps in February in N.J. to 8.2 percent
by Lisa Fleisher and Chris Megerian/The Star-Ledger
Wednesday March 25, 2009, 11:37 AM

New Jersey's unemployment rate shot up to 8.2 percent, as the professional and business services sector shed about 10,000 jobs, the Department of Labor and Workforce Development said today.

It's the 13th straight month the unemployment rate has risen, and follows an announcement weeks ago that the national unemployment rate went up to 8.1 percent. In a bright spot, education and health fields continued to hire and add jobs.

At a National Career Fairs job fair outside the Radisson Martinique On Broadway Hotel last month, Barry Rosenberg of New York, from center left, John Fromholtz of New Jersey, and Dale Turnage, of Vacaville, Calif., wait to enter the building.

The state's unemployment rate generally follows the national rate, but this is the first time since October 2006 it has risen above the national level, the department said.

In February, 19,700 jobs were lost, mostly in the private sector, adding up to more than 30,000 jobs lost so far this year.

About 3.97 million people have jobs in New Jersey, the department said.

Gov. Jon Corzine told reporters today that he was disappointed by the figures. "But I'm not in the least surprised," he said.

Mergers in the pharmaceutical industry and the meltdown on Wall St. has taken a particular toll on the state, which is closely tied to both sectors, he said.

"We know that people in the state of New Jersey, like people across the country, are struggling with economic job loss," he said.

Eight of 10 industries saw job losses, with manufacturing, construction and financial activities following the general professional and business services category. People in manufacturing worked ever-so-slightly longer hours, up .2 hours to 41.4 hours a week, while their average hourly wages inched up 20 cents to $18.59. That's 70 cents an hour higher than February of last year, but the workweek is still about .3 hours shorter than last year.

So far this year, education and health-related businesses have added 13,600 jobs, the department said.

News about new home sales and durable goods also came out today.

http://www.nj.com/business/index.ssf/2009/03/unemployment_jumps_in_february.html