The most recent figures from the New Jersey Department of Laborindicate the state's unemployment rate stands at 4.2%, a slightrise from the 4.1% reported in October, but still well below thenational average of 4.7%. The state Department of Labor estimatesthat 2,100 jobs were added in November.

"Jobs in New Jersey have expanded consistently over the pastseven months," says labor commissioner David Socolow in a DOLrelease. "Looking back at this time last year, the gain of 2,100jobs in November of 2007 was a significant improvement overNovember of 2006, when employment fell by 2,300 jobs."

Job growth means company growth, and accordingly, overallvacancy rates fell for the third month in a row, finishing Novemberat 23.6%. The lowest vacancy rates in Northern New Jersey werefound in Newark, at 13.2%, and the Hudson Waterfront, whose vacancyrate fell to 11.7% from the 12% it reported in October. Accordingto the report, over one million sf of space was absorbed in theHudson Waterfront market in 2007.