Trenton, New Jersey — New Jersey lost an estimated 25,600 jobs in July, its largest one-month decline since the early months of the COVID-19 pandemic and enough to erase all job growth recorded in the state since February 2024.
The preliminary figures from the New Jersey Department of Labor and Workforce Development showed the sharpest monthly decline since April 2020, when pandemic shutdowns eliminated nearly 685,000 jobs. State officials cautioned that July’s estimate could be revised because of low survey response rates and seasonal-adjustment issues.
Despite the losses, New Jersey’s unemployment rate edged down to 4.4%. Economists noted that payroll and unemployment figures come from separate surveys and do not always move together.
The slowdown also reflects weaker job growth nationally, but New Jersey stood out compared with neighboring states. Maryland added jobs in July, while Pennsylvania lost fewer positions and New York’s decline was spread across a much larger labor force.
Economists cited several possible factors, including weaker national growth, tariffs, immigration enforcement and New Jersey’s high business costs. Leisure and hospitality showed the largest year-over-year decline, losing about 26,000 jobs.
Republican lawmakers blamed taxes and business costs, while Gov. Mikie Sherrill’s administration pointed to federal trade policies. Economists said both state and national factors may be contributing, but cautioned against drawing conclusions from a single preliminary report.
Sources
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