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  • New Jersey payrolls shrink by 4,700 jobs Economists say decline may signal state slowdown

    11/24/2005 10:33:25 PM PST · by Coleus · 11 replies · 349+ views
    Star Ledger ^ | 11.17.05 | DAVID SCHWAB
    Continuing its lackluster economic performance, New Jersey lost 4,700 jobs last month, the biggest decline in nearly two years. The decline in payroll employment reported yesterday by the state Department of Labor and Workforce Development was the largest since payrolls fell by 6,200 in January 2004. The state gained 5,600 jobs in September. The state's unemployment rate fell to 3.9 percent in October, from 4.4 percent in September, matching the low for the year last reached in May and remaining below the national 5 percent unemployment rate. But economists discounted this unusually large decline, saying the unemployment figure can vary...