NJ Employment Dips in July; Unemployment Rate Ticks Up to 4.7%

Preliminary labor market estimates for July, produced by the U.S. Bureau of Labor Statistics, indicate a New Jersey labor market that is showing signs of easing. The unemployment rate increased by 0.1 percent to 4.7 percent from June to July. Total nonfarm employment fell by 10,300 jobs to reach a seasonally-adjusted level of 4,375,000 jobs in the state.