NJ's monthly jobless rate nears 10 percent
Source: CBS Money Watch
TRENTON, N.J. — New Jersey's unemployment rate hit 9.9 percent in August, a disappointing showing the governor's office sought to blame on the way the federal government measures joblessness.
The state unemployment rate is preliminary and subject to revision. But the near double-digit joblessness at rates not seen in 35 years comes even as 5,300 jobs were added last month and job increases were reported in 10 of the last 12 months.
Charles Steindel, the Treasury's chief economist, said the jobless rate is at odds with signs of economic recovery seen in the state. He said the household employment survey the federal Bureau of Labor Statistics uses to determine the unemployment rate is less reliable than a payroll survey of employers. The payroll survey showed a gain of 50,000 jobs over the past year while the household survey showed New Jersey losing 47,500 jobs during the period, he said.
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Read more: http://www.cbsnews.com/8301-505245_162-57517603/njs-monthly-jobless-rate-nears-10-percent/
Another superb Republican! Heck of a job Chris.
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