This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

NJ Jobless Rate Falls To 9.3 Percent In February

By ANGELA DELLI SANTI

TRENTON, N.J. (AP) â¿¿ New Jersey's jobless rate dropped by two-tenths to 9.3 percent in February, according to preliminary figures released Thursday.

The state Labor Department reported that employers added 12,900 workers to their payrolls for the month. Higher employment levels were recorded in both the private and public sectors.

The state unemployment rate, however, remained well above the federal rate, which fell by one-tenth to 7.7 percent in February.

Adjusted figures show New Jersey's unemployment rate has not been below 9 percent since May 2009, when Democrat Jon Corzine was governor and Republican Chris Christie was campaigning to unseat him.

Charles Steindel, chief economist for now-Gov. Christie, touted the most recent report as further evidence that jobs are being created in the state.

"This is another solid jobs report that continues the general, upward trend of growth and progress established under the Christie administration, bringing the number of private-sector jobs added under this administration to 120,000," Steindel said.

But Sen. Barbara Buono, the Democratic gubernatorial candidate, said the report illustrates New Jersey's continuing unemployment crisis. She said the 430,000 jobless residents represent "an unacceptably high number," and blamed Christie for vetoing a bipartisan jobs-creation package.

"The governor has vetoed legislation that would have created good-paying jobs across the state without offering any plan of his own," she said.

One of the vetoed bills was sponsored by Buono, and would have encouraged partnerships between New Jersey-based pharmaceutical companies and other industries and colleges and universities.

Job gains were posted in education and health services, information, and leisure and hospitality, among other sectors. Job losses were reported in trade, transportation and utilities, financial activities, construction and manufacturing.

Public-sector employment gained 5,800 positions, with federal, state and local governments all showing gains.

January's jobs numbers were revised downward to show a loss of 2,200 jobs from December to January.

Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs