5 States with the Largest Declines in Unemployment in 2022

2. New Jersey

Rate of unemployment in Dec 2021: 5.1%

Rate of unemployment in Dec 2022: 3.4%

In 2022, New Jersey has managed to recover approximately 96% of the jobs that were lost due to the effects of the COVID-19 pandemic in March 2020. This is around 703,300 jobs in around 2 years. Some of the areas that showed a rise in employment include financial jobs, education, health, leisure and hospitality, and professional and business services. The state has been working constantly to add jobs, and successfully improve the economic conditions of New Jersey.