Overall unemployment rate moved up to 3.9% with the biggest shift in Restaurants & Hotels, which lost 3,000 roles, based on the most recently available information published in December 2022.
Total employment in the Atlantic City-Hammonton, NJ market declined by 658 jobs in October and the unemployment rate increased compared to the prior month by 20 bps to 3.9%. The national unemployment rate increased by 8 bps over the same time to 3.4%.
- Atlantic City-Hammonton, NJ unemployment rate is 50 bps above the national rate which is a negative sign.
- Unemployment in the market is 340 bps below the unemployment rate in the market last year at this time, which is a positive.
- Average wages (per hour) grew in October versus prior month by 0.7% and are down compared to last year at this time in the market.
For key employment segments of the market, total jobs declined by -1.6%. Key sectors include:
- Restaurants & Hotels: 41,600; -3,000
- Government: 21,800; +900
- Transportation & Utilities: 21,300; no change
- Education & Healthcare: 21,200; +100
- Business Services: 11,900; +100
Data is based on the most recent 12 months available, through October 2022 (Data published December 2022 and reports created on December 2, 2022). Source: Government data agency and locally acquired statistics.
Note: All reported data is not seasonally adjusted.