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Thu Nov 15, 2012, 10:44 PM

NJ jobless rate dips to 9.7 percent; 12K jobs lost

Source: AP

TRENTON, N.J. (AP) New Jersey lost nearly 12,000 jobs in October, most of them in the private sector, even as the unemployment rate inched down to 9.7 percent, the state Labor Department reported.

The drop of one-tenth of a percentage point, from 9.8 percent in September, still left New Jersey's jobless rate well above the national figure which was 7.9 percent for October.

The Christie administration cited as positive signs a 4,500 increase in construction jobs last month and the fact that New Jersey has now recorded two consecutive monthly drops in the jobless rate, from the high of 9.9 percent in August. It also said the long-term job trend remains positive.

The leisure and hospitality industry was responsible for the biggest loss in October, with 9,700 fewer jobs.

Read more: http://news.yahoo.com/nj-jobless-rate-dips-9-7-percent-12k-183125205--finance.html

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