Deep Dive: New Jersey sees mixed recovery when it comes to unemployment
New jobless claims fell to 310,000 last week, a new pandemic low, which comes shortly after 2.6 million people lost the $300-a-week federal unemployment boost.
The numbers are having a big impact on the entire economy.
Caleb Silver with Investopedia says New Jersey is seeing sort of a mixed recovery when it comes to unemployment.
Hudson County fairs the worst at 8.3% unemployment -- the national average is 5.2%. Bergen County is at 7.4%, Monmouth County at 6.6% and Morris County at 6%.
The issue with unemployment is people out of work, and not being able to get back into job force, could reduce consumer spending. It also puts a lot of pressure on people at home.
Silver also says government jobs have been hit the hardest, as has the leisure and hospitality sector. Government jobs are still down about 51,000 from pre-pandemic levels. The leisure and hospitality sector rebounded especially throughout the summer by adding 181,000 jobs.