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New Jersey Retail Market Report 2H 2020

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Employers added to their payrolls in November for the seventh consecutive month, increasing by 7,100 jobs from October to reach a total of 3.9 million jobs. New Jersey has regained 485,700 jobs since April, or 58% of the jobs lost due to the coronavirus pandemic. Despite the increase in employment, the unemployment rate rose again to 10.2%, as more residents re-entered the labor force to seek employment.

The COVID-19 pandemic has continued to significantly impact New Jersey’s retail sector, with the retail trade and leisure and hospitality industries experiencing many of the job losses since the onset of the pandemic. Following a 38.4% drop in employment in April, the latest employment figures show a 42.2% improvement in November to 726,600 jobs, as restrictions have been eased, and retail employees are slowly being brought back to work. However, with the recent surge in COVID-19 infections, the improvements the State was experiencing could begin stall.


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New Jersey Retail Market Report 2H 2020

Download Report