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Health Care Study: March 2013 
The overall health, both of New Jersey's economy and its people, is clearly tied
to the capabilities of the evolving health care industry.

• The health care industry contributed $30 billion to New Jersey's
  Gross Domestic Product in 2010, or roughly 7 percent of all
  state output.
  
  

• From 1990 through 2011, the health care sector in New Jersey has
  added 171,100 new jobs, while all other industries combined had a
  net gain of only 50,000.
  
  

• Health care establishment employers paid more than $21.9 billion
  in total wages in 2011, or about 12.2 percent of all wages paid in
  New Jersey.
  
  

Health Care Labor Market View
New Jersey’s Economic Health Depends on Health Care Industry
The overall health, both of New Jersey’s economy and its people, is clearly tied
to the capabilities of the evolving health care industry.

• The health care industry contributed over $32 billion to New Jersey’s
  Gross Domestic Product in 2008 (roughly 7% of all output).
  
  

• New Jersey employers, across all health care industries, paid more than
  $21 billion in wages in 2009.

Bio Pharma Life Science Study: February 2013 
The vitality of the biopharmaceutical and life-sciences cluster in New Jersey is
fundamental to the state's economic health with its well-paying jobs.

• New Jersey's bio/pharma life sciences employment totaled 121,655 in 2011,
  or 3.9 percent of the state's private sector workforce. Nationally, the
  proportion was just 2.0 percent.
  
  

• From 2006 to 2011, the number of establishments in this cluster grew by
  8.1 percent. Despite recent mergers by firms in the drug and the
  pharmaceutical component, the number of establishments increased by 14.0
  percent, outpacing growth nationally (+6.5%) over the period.

Issue # 20 (8/28/12)
Life Science Remains Strong in the
Garden State

New Jersey's biopharmaceutical and life-science industry cluster continues to
expand the state's long-established record of science- and knowledge-based
advancements even as it continues to add enormous value to the State's
economy. The latest available employment data (third quarter of 2011),
showed that the 3,129 business establishments of the biopharmaceutical and
life-science industry cluster reported an employment level totaling 122,442
jobs. This industry cluster relies on the highly skilled and educated workforce
for which New Jersey is noted.

• In 2010, the biopharmaceutical and life-science industry cluster accounted for
  about 3.9 percent of the state's total employment. However, because these jobs
  are well-paying, the cluster is responsible for 8.1 percent of New Jersey's
  total payrolls.
  

Bio Pharma Life Science Labor Market View
NJ's Changing Biopharm/Life Sciences Industry Reaches Beyond Traditional
Pharmaceuticals
The vitality of the biopharmaceutical and life-sciences cluster in New Jersey is
fundamental to the state’s economic health with its well-paying jobs;

• Accounted for $23 billion or nearly 5.0 percent of New Jersey’s gross
  domestic product.
  
  

• Invested nearly $20 billion in research and development, the 3rd most
  among the 50 states.

TLD Study: March 2013 
The real estate ideal of "location, location, location" aptly describes
New Jersey's transportation, logistics and distribution industry.

• In 2011, transportation. logistics and distribution (TLD) employed 355,349
  workers in New Jersey. The cluster employed 11.3 percent of the state's
  private sector workers, a higher percentage than for the nation (8.9%).
  
  

• TLD contributed 45.8 billion dollars to the state's Gross Domestic Product
  (GDP) in 2011.
  
  

• In 2011, employers in the state's TLD industry cluster paid a total of $24.0
  billion in wages.
  
  

• The state offers access to the nation's freight rail network and is also home to
  several key transportation facilities necessary for a strong TLD industry
  cluster including three major seaports and a large international airport.
  

• Located between New York City and Philadelphia, New Jersey is within a day's
  drive of 40 percent of the US population who purchase $2 trillion in merchandise
  yearly.
  
  

• According to 2010 figures (latest available) from the U.S. Army Corps of
  Engineers, Waterborne Commerce Statistics Center, New Jersey's shipping
  activity accounts for 6.6 percent of the nation's tonnage of total cargo volume.

TLD Labor Market View
New Jersey Well Positioned for Transportation, Logistics and Distribution

The real estate ideal of, “location, location, location,” aptly describes New Jersey.

• New Jersey has 36,000 miles of highways and 500,000 trucks move freight over
  these roads daily.
  
  

• Within a day’s drive of the Garden State, truckers can reach 40 percent of the
  US population, or 100 million consumers who purchase $2 trillion in merchandise
  each year.

LHR Study: March 2013
Many of the businesses within leisure, hospitality and retail trade also directly
and indirectly support the state's tourism industry

• Leisure, hospitality and retail trade (LHR) employment totaled 772,680
  in 2011, or 24.5 percent of all private sector workers in the state.
  
  

• Over one-quarter (28.1%) of all employment in the LHR cluster is
  concentrated in three counties: Bergen, Monmouth and Middlesex.
  Atlantic County ranks fourth for LHR employment due mainly to
  the presence of its casino hotel industry.

• Leisure, hospitality and retail trade (LHR) employment totaled 766,410 in 2009,
  or 24 percent of all private sector workers in the state.
  
  

Financial Services Study: March 2013 

New Jersey's close proximity to New York City, highly competitive corporate
real estate rates and an unmatched talent pool make New Jersey a prime
location for financial services firms.

• Despite a relatively small employment base (5.8% of total employment
  in 2011) finance and insurance contributed almost $37 billion or
  roughly nine percent to the state's Gross Domestic Product in 2011.
  
  
• Financial services relies heavilly on information and technology. New
  Jersey has remained in the forefront of technological advancement by
  becoming a national leader in developing data centers to support the
  industry. In fact, Edison Township (Middlesex County) has recently
  become home to one of the largest data centers in the world.
  

Issue # 22 (10/12/12)
New Jersey Continues Attracting
Financial Services Businesses

Infrastructure, value and talent are all key elements in attracting financial
services firms to the state of New Jersey and keeping them here. Issue 22
of New Jersey Labor Market Views gives an overview of the financial
services industry and its importance to the state's economy.

• The financial services industry is a significant driver of the state's economy
  contributing almost $37 billion, or roughly 9.0 percent, to the 2011 Gross
  State Product. Finance and Insurance industry employers in New
  Jersey paid almost $19.7 billion in total wages in 2011, accounting for
  11 percent of the state's total private sector wages.

Financial Services Labor Market View
Garden State the Destination for Financial Services Businesses

New Jersey's close proximity to New York City, highly competitive corporate
real estate rates and an unmatched talent pool make New Jersey a prime
location for financial services firms.

• New Jersey has one of the most extensive fiber optic networks in the world
  to support the financial industry's high-speed communications needs.
  
  
• The state has a highly educated talent pool - more than 34 percent of New
  Jersey's workforce has earned a bachelor's degree or higher.
  
  
  
  
  

Advanced Manufacturing Study: March 2013 
The term "advanced manufacturing"
is often used to describe products or processes that utilize technological advances
to enhance the way we make the things that we make.

• The advanced manufacturing industry contributed over $17.2 billion to New
  Jersey's Gross Domestic Product in 2010, or about 4.0 percent of all
  state output.
  
  

• Advanced manufacturing employment is primarily comprised of four
  industry groups: chemical manufacturing (44%), computer and
  electronic product manufacturing (22%), machinery manufacturing (12%).
  The remaining 22 percent is made up of selected detailed industries.
  

• In 2011, there were nearly 119,000 people employed in industries
  classified as advanced manufacturing in New Jersey. This represents
  about 47 percent of all manufacturing employment in New Jersey.
  
  

• Chemical manufacturing industries employed over 53,000 in 2011, 21
  percent of all manufacturing workers in the state. New Jersey also
  hosts 6.7 percent of all chemical manufacturing employment
  in the United States.
  
  

• The state's advanced manufacturing industry establishments paid a total
  of more than $11.6 billion in wages in 2011, or roughly 6.5 percent of
  New Jersey's total wages.

Issue # 13 (9/22/11)
Advanced Manufacturing Creates the Products and Processes of Tomorrow

The term "advanced manufacturing" is often used to describe products or processes
that utilize technological advances to enhance the way we make things or the things
that we make. In this issue of NJ Labor Market Views learn how advanced
manufacturing and its ongoing innovation is vital to New Jersey's continued economic
success.

• In 2009, there were more than 127,000 jobs within industries classified as advanced
  manufacturing.
  
  

Technology Study: February 2013 
Industries in the technology cluster have a high proportion of scientists,
engineers and technicians.  They are primarially located in the
utilities, manufacturing, information and professional, scientific and
technical services industries.

• In 2011, New Jersey's technology cluster accounted for 312,000 jobs
  or 10.0 percent of private sector employment statewide.  Nationally
  the cluster was responsible for 8.5 percent of all private sector
  employment.
  

• The annual average wage for the technology cluster was $103,215 
  in 2011, or 181 percent of the statewide average ($56,888) for all industries. 
  Employers in the industry paid over $32 billion in wages or almost 18 percent
  of the wages paid in all industries.
  

• The technology cluster is supported by the strength of New Jersey's
  highly educated workforce as over 80 percent of New Jerseyans
  within the cluster have some college or higher.  Almost 63 percent
  hold a bachelor's degree or higher.