New Jersey Adds Jobs, Yet Unemployment Rate Rises
TRENTON, N.J. (CBS) - The latest jobless numbers in the Garden State present what could best be called a mixed message.
On the one hand, New Jersey added about 7,500 private-sector jobs in February. That segment has grown for three of the last five months.
On the other, the unemployment rate went up — from 9.1 percent in January to 9.2 last month.
So, what gives?
“The ‘discouraged’ workers that we survey re-entered the job market — I think they saw the job market improving,” explains New Jersey labor commissioner Harold Wirths (right). “They actually re-enter (the job market) and it pushes the numbers up.”
Not a surprise, according to most economists. Traditionally, unemployment figures are the last to improve in an overall economic recovery.
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