Issue # 17 (1/30/12)
New Jersey - Older on Average

Data from the 2010 Census show that New Jerseyans are living longer.
Not only does the Garden State have more older residents (population
65 and older), it als has fewer residents who are age 18 and younger.
This issue of NJ Labor Market Views provides an analysis of the
state's population by age group.

• The median age in New Jersey in 2010 was 39.0 years.
  
  
• The age cohort with the greatest percentage of growth was residents age
  85 and over.

Issue # 16 (12/2/11)
As Construction Grows Stronger New Jersey's Economy Will Follow

Although construction makes up a relatively small proportion of New Jersey's
private sector employment, a healthy construction industry helps drive broader
economic activity. In this issue of NJ Labor Market Views read about the
impact of the construction industry on New Jersey's economy.

• New Jersey's construction industry directly contributed $12.6 billion in 2005
  inflation-adjusted dollars to the nation's 2009 gross domestic product (GDP)
  representing 2.8 percent of the GDP generated nationally by this industry.
  
  
• In 2009, jobs in New Jersey's construction industry paid higher average
  annual wages ($60,588) than the average for the state's private sector as a
  whole.

Issue # 14 (10/19/11)
People From Many Nations Form New Jersey's Hispanic Population

According to figures from the 2010 Census, New Jersey is home to more than 1.5
million Hispanics in 2010.  They account for nearly 18 percent of the total
population and form one of the Garden State's fastest growing minority groups.  In
this issue of New Jersey Labor Market Views get a detailed analysis of New
Jersey's Hispanic population.

• Hispanics are projected to comprise 22.2 percent of the state's total population
  by 2028.
  
  
• Since the 1970 Census, New Jersey's Hispanic population has increased by
  439 percent.

Issue # 13 (9/22/11)
Advanced Manufacturing Creates the Products and Processes of Tomorrow 
The term "advanced manufacturing" is often used to describe the 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..
  
  
• More than $11.6 billion in wages were paid in 2009, or roughly 6.8 percent of New
  Jersey's total wages paid.

Issue # 12 (9/06/11)
Annual Average Wage in 2010 Rebounds From First Decline

New Jersey's annual average wage reached a new high in 2010 after seeing its first decline
in more than 40 years in 2009.

• The 2010 annual average wage in New Jersey rose to $56,385 from $55,173 in 2009,
  an increase of $1,212 or 2.2 percent.
  
  
• The highest annual average wage growth during 2010 occurred in the industry sectors
  of finance and insurance (+7.2%) and management of companies and enterprises (+6.4%).

Issue # 11 (8/11/11)
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.

Issue # 10 (7/13/11)
New Jersey’s Leisure, Hospitality and Retail Cluster: The Shore and More

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 766,410 in 2009,
  or 24 percent of all private sector workers in the state.
  
  
• New Jersey LHR employers paid more than $20 billion in wages during 2009,
  or 11.8 percent of the state total.

Issue # 9 (6/23/11)
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.

Issue # 8 (6/14/11)
Growth of County Population From 1790 to 2010

New Jersey has undergone many changes in business, in fashion, and in population
since 1790 when the first national census was conducted. 

• From a total of 184,139 residents in 1790, New Jersey’s population grew by more than
  4,600 percent to a level of 8,791,894 in 2010.
         
• Between 1824 and 1857, New Jersey’s original 13 counties were divided to create eight
  additional counties.

Issue # 7 (5/16/11)
Growing New Jersey Minority Population Reaches Majority in Some Municipalities

Census 2010 data on race and ethnicity showed that New Jersey is a highly diverse state with
the nation’s fourth largest Asian population and seventh largest Hispanic population. 

• Populations of two municipalities in Essex County had more than 97 percent minority residents.
         
• Non-Hispanic white residents comprise 90 percent of the population in 137 municipalities.

Issue # 6 (5/11/11)
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.

Issue # 5 (4/18/11)
Most New Jerseyans Call Smaller Municipalities Home
Where we live makes a great deal of difference to us and to our families.Each municipality
in the Garden State has its own personality and character and that has an impact on many
things from the makeup of the people we call neighbors;

• Just over half of us reside in smaller towns with populations between 10,000 and 50,000
         
• Another quarter of Garden State residents live in towns of 50,000 to 100,000 residents

Issue # 4 (4/11/11)
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    

Issue # 3 (4/06/11)
Signs of the Times? “Help Wanted” and Job Growth
Recent indicators of New Jersey’s economic health, taken together appear to point toward
a brightening economic picture.  

• Job openings posted by employers were up in each of the last two months, increasing
      nearly two percent in February.
• Private sector employment increased in six-of-10 supersectors in February
      adding nearly 7,000 jobs.

Issue # 2 (3/22/11)
The Changing Face of New Jersey Is More Diverse Than Ever
Look at the people around you. The diversity you’re seeing is a hallmark of the
Garden State according to the 2010 Census. New Jersey continues to be one of
the most racially and ethnically diverse states. The latest figures showed that in
New Jersey between 2000 and 2010: 

• The increase in the Hispanic population was greater than the total population increase.
• The fastest growing racial group was Asian, which increased by 51.1 percent.