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| File Photo: Mario Tama/Getty Images) |
Posted: Wednesday, 19 November 2008 3:00PM
New Jersey Unemployment Hits 5-Year High
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TRENTON, N.J. (AP) -- Unemployment in New Jersey climbed to its highest level in five years in October.
The state Labor and Workforce Development Department says the jobless rate rose from 5.8 percent in September to 6 percent last month, the highest rate since July 2003.
The nation's jobless rate rose to 6.5 percent.
New Jersey employers slashed 6,000 jobs, the third consecutive monthly loss.
All the job losses were recorded in the private sector, with 2,500 cut in trade, transportation and utilities.
Employment in the manufacturing sector has fallen by nearly 12,000 this year.
The state says education and health services recorded moderate gains of 1,200 jobs in October. The government sector posted an increase of 100.
Employment in the state has fallen in eight of the 10 months of 2008.
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