In November, the unemployment rate in New Jersey experienced the largest increase in the nation, according to the U.S. Bureau of Labor Statistics. Other states, along with the District of Columbia, saw increases in the unemployment rate between November 2022 and November 2023. As a result of these changes, New Jersey now has the fourth highest unemployment rate in the United States, matching with Illinois.

Despite this increase, the number of payroll employment in New Jersey went up, with the addition of approximately 63,000 filled job positions by the end of November 2023. The simultaneous increase in employment and unemployment rates indicates that the number of newcomers in the job market outnumbers the available job openings. The unemployment rate in neighboring states New York and Pennsylvania stands at 4.3% and 3.4% respectively, with Pennsylvania seeing one of the largest declines in unemployment.

Across the nation, 20 states saw their over-year unemployment rates decrease, while it remained consistent in 15 states.