JERSEY CITY – August U.S. Bureau of Labor statistics show that Jersey City’s unemployment rate continues to plunge downward, even while the State of New Jersey saw an increase in its unemployment rate due to the loss of 900 jobs.
New Jersey lost 900 jobs from July to August – a combination of private and public sector positions – resulting in an uptick in the state’s unemployment figures. Meanwhile, during the same period, Jersey City continued to see a downward trend in its unemployment rate dropping from 8 percent in July to 7.6 percent in August.
U.S. Bureau of Labor statistics for the first year of the Fulop administration show Jersey City has outpaced both the nation and state in reducing the unemployment rate two times faster than the national rate. At 7.6 percent, Jersey City also has the lowest unemployment rate of any large city in New Jersey.
“We are pleased that Jersey City’s unemployment rate continues to drop as we bring new businesses to the City and increase employment opportunities for our residents,” Fulop said. “A focus of our administration has been to grow job opportunities, expand job training and provide greater access to employment for all of our residents.”
From June 2013 through August 2014, Jersey City’s unemployment rate dropped from 10.6 percent to 7.6 percent, representing a 3.0 percent decline, while New Jersey’s only dropped 1.8 percent during the same period and the nation’s unemployment rate dropped 1.4 percent.
Much of the job growth is attribute to the administration’s focus on attracting new business to the City, which includes the recent announcements by several firms that they are relocating or opening facilities in Jersey City, such as JPMorgan Chase, RBC, Forbes, Imperial Bag, Nautica and Ahold.
Additionally, several new hotels are planned for Jersey City, with a Hyatt and Marriott recently announced. The Hyatt, which broke ground in August, will create 350 construction jobs, as well as 80 permanent and 60 part-time hotel jobs.
Also due to Jersey City being the leader in the state for construction projects, Jersey City has also seen an increase in construction jobs with more than 4,000 construction jobs either underway or planned as part approved projects.
The administration, through the Jersey City Employment and Training Program has also been focused on matching Jersey City residents with available jobs and offering apprenticeship and training programs. The City has also stepped up its efforts at compliance with construction projects so local residents and minorities are offered the opportunity to work on Jersey City construction projects.
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