New Jersey Q2, 2019 Employment Statistics- 276,851 employers, up 3.8% from 266,706
- 4,120,241 employees, up 0.8% from 4,085,385
- $1,236 average weekly wage, up 3.0% from $1,200
- The average weekly wage is 12.9% above the national average
- The cost of living is 25.1% above the national average
Employer & Employee Growth
In the last year, the number of employers in the state increased by 10,145, which is an increase of 3.8%. The number of employees in New Jersey increased by 34,856, an increase of 0.8%. During this same period, the average weekly wage increased by $36, an increase of 3.0%.
The number of private employers increased since last years' Q1. The number of private businesses increased by 10,096 or 3.9%. Growth in private businesses in New Jersey grew faster than the national average of 2.9%. The number of employees in these businesses increased since last years' Q1, increasing by 34,039 or 1.0%. The growth in employees of private businesses in New Jersey was slower than the national average of 1.4%.
The average weekly wage of employees of private businesses increased since last years' Q1. The averge weekly wage increased by $35 or 3.0%. Growth in average weekly wage of employees of private businesses in New Jersey grew slower than the national average of 3.8%.
Leading Sectors
Businesses by Sector
The sector with the greatest number of businesses in the state is Professional services with 12.3% of the businesses in the state. The number of businesses in this sector increased by 1.6%. Healthcare (12.2%), which increased by 1.8% and Retail trade (10.8%), which increased by 0.6%, round out the 3 largest sectors.
Table: Sectors by Year-over-Year Qtly Business Change %
| Sector | Change Biz | % Change |
|---|---|---|
| Transport and warehousing | 331 | 4.5% |
| Company management | 63 | 4.2% |
| Other services | 615 | 2.6% |
| Arts and entertainment | 95 | 2.5% |
| Waste services | 400 | 2.4% |
| Accommodation and food services | 480 | 2.4% |
| Real estate and rental | 166 | 2.0% |
| Information | 73 | 2.0% |
| Construction | 450 | 2.0% |
| Healthcare | 606 | 1.8% |
| Professional services | 538 | 1.6% |
| Manufacturing | 108 | 1.2% |
| Utilities | 4 | 1.1% |
| Educational services | 37 | 0.9% |
| Finance and insurance | 102 | 0.9% |
| Agriculture and forestry | 8 | 0.9% |
| Retail trade | 182 | 0.6% |
| Wholesale trade | -11 | -0.1% |
| Mining and oil extraction | -6 | -6.2% |
Employees by Sector
The sector with the greatest number of employees in the state is Healthcare with 14.2% of the employees in the state, had an increase in employees of 1.2% in the last year. Retail trade (10.8%), decreased by 1.9% and Accommodation and food services (8.0%), increased by 1.7%, round out the top 3 sectors.Table: Sectors by Year-over-Year Qtly Employee Change %
| Sector | Employee Change | % Change |
|---|---|---|
| Agriculture and forestry | 520 | 3.8% |
| Transport and warehousing | 6,412 | 3.4% |
| Real estate and rental | 1,466 | 2.4% |
| Company management | 1,896 | 2.2% |
| Manufacturing | 4,367 | 1.8% |
| Accommodation and food services | 5,568 | 1.7% |
| Other services | 2,196 | 1.6% |
| Educational services | 1,255 | 1.5% |
| Healthcare | 7,144 | 1.2% |
| Waste services | 2,682 | 1.0% |
| Professional services | 2,184 | 0.7% |
| Arts and entertainment | 484 | 0.7% |
| Construction | 948 | 0.6% |
| Finance and insurance | -1,290 | -0.7% |
| Wholesale trade | -1,772 | -0.8% |
| Retail trade | -8,729 | -1.9% |
| Information | -2,676 | -3.8% |
| Utilities | -608 | -4.0% |
| Mining and oil extraction | -71 | -5.2% |
Average Weekly Wage by Sector
The sector that pays their employees the highest is Company management paying $3,088per week compared with the state average of $1,214. Weekly wages in this sector rose by $180 or 6.2%. Utilities ($2,204), declined by $33 or 1.5% and Finance and insurance ($2,189) increased by $60 or 2.8% round out the 3 largest sectors.Table: Sectors by Year-over-Year Weekly Wage Change %
| Sector | Wage Change | Change % |
|---|---|---|
| Mining and oil extraction | $181 | 11.7% |
| Company management | $180 | 6.2% |
| Arts and entertainment | $32 | 5.6% |
| Retail trade | $33 | 5.0% |
| Manufacturing | $61 | 4.2% |
| Information | $77 | 3.8% |
| Other services | $23 | 3.3% |
| Healthcare | $32 | 3.2% |
| Professional services | $63 | 3.2% |
| Agriculture and forestry | $21 | 3.2% |
| Transport and warehousing | $30 | 2.9% |
| Wholesale trade | $47 | 2.9% |
| Finance and insurance | $60 | 2.8% |
| Educational services | $25 | 2.6% |
| Construction | $33 | 2.4% |
| Real estate and rental | $26 | 2.2% |
| Waste services | $18 | 2.1% |
| Utilities | $-33 | -1.5% |
| Accommodation and food services | $-21 | -4.5% |
Leading Industries
Businesses by Industry
Each broad sector is made up of specific industries. In New Jersey. the industry with the most businesses is Restaurants and other eating places with 6.0% of the businesses in the state (with 16,584 employing 232,678 workers). The Restaurants and other eating places industry had 421 more businesses, an increase of 2.6% in the last year. Computer systems design and related services (3.3% of businesses) added 159 businesses, an increase of 1.8% and Offices of physicians (2.9% of businesses) had 46 fewer businesses, a decline of 0.6% round out the 3 industries with the most businesses.Table: Top 7 Industries by Business Change %
| Industry | Business Chg | % Change |
|---|---|---|
| Tobacco manufacturing | 4 | 200.0% |
| Casinos except casino hotels | 5 | 125.0% |
| Carpet and rug mills | 3 | 100.0% |
| Support activities for forestry | 3 | 60.0% |
| Motor vehicle steering and suspension parts | 1 | 50.0% |
| Battery manufacturing | 1 | 50.0% |
| Major household appliance manufacturing | 1 | 50.0% |
Table: Top 7 Industries by Business Change #
| Industry | Business Chg | % Change |
|---|---|---|
| Restaurants and other eating places | 421 | 2.6% |
| Residential building construction | 261 | 4.4% |
| General freight trucking long-distance | 238 | 17.6% |
| Medical and diagnostic laboratories | 237 | 29.6% |
| Hair nail and skin care services | 228 | 3.9% |
| Private households | 187 | 4.7% |
| Management consulting services | 162 | 2.8% |
Employees by Industry
Computer systems design and related services (3.3% of employees) added 159 employees, an increase of 1.8% and Offices of physicians (2.9% ofemployees) had 46 fewer employees, a decline of 0.6% round out the 3 industries with the most employees.Table: Top 7 Industries by Employee Change %
| Industry | Emp Chg | % Change |
|---|---|---|
| Support activities for forestry | 13 | 237.8% |
| Carpet and rug mills | 6 | 113.3% |
| Family planning centers | 397 | 79.8% |
| Fishing | 84 | 49.1% |
| Accessories and other apparel manufacturing | 329 | 44.7% |
| Health and welfare funds | 45 | 43.4% |
| Credit bureaus | 211 | 42.4% |
Table: Top 7 Industries by Employee Change #
| Industry | Emp Chg | % Change |
|---|---|---|
| Restaurants and other eating places | 4,059 | 1.8% |
| Casino hotels | 3,012 | 15.0% |
| Temporary help services | 2,647 | 2.7% |
| Pharmaceutical and medicine manufacturing | 2,588 | 11.7% |
| General warehousing and storage | 2,568 | 5.5% |
| Management of companies and enterprises | 1,896 | 2.2% |
| Couriers and express delivery services | 1,578 | 6.6% |
Average Weekly Wage by Industry
The industry that pays their employees the most is Trusts estates and agency accounts, paying $112,235 compared with the state average of $1,214. Employees in the Trusts estates and agency accounts industry were paid $0 more per week, an increase of 0.0% in the last year. Communication and energy wire and cable mfg. ($5,950) and Reinsurance carriers ($4,053) round out the top 3 industries. Employees in the Communication and energy wire and cable mfg. ($5,950 per week) were paid $0 more per week, an increase of 0.0% and Reinsurance carriers ($4,053 per week) were paid $38 more per week, an increase of 0.9% round out the 3 industries that pay their employees the most.Table: Top 7 Industries by Wage Change %
| Industry | Wkly Chg | % Change |
|---|---|---|
| Magnetic media manufacturing and reproducing | $2,579 | 251.9% |
| Other sound recording industries | $1,983 | 244.8% |
| Carpet and rug mills | $1,275 | 75.2% |
| Other personal care services | $228 | 51.1% |
| Other direct selling establishments | $372 | 45.1% |
| Other financial vehicles | $754 | 42.9% |
| Elec. equip. and wiring merchant wholesalers | $559 | 39.2% |
Table: Top 7 Industries by Wage Change $
| Industry | Wkly Chg | % Change |
|---|---|---|
| Magnetic media manufacturing and reproducing | $2,579 | 251.9% |
| Other sound recording industries | $1,983 | 244.8% |
| Carpet and rug mills | $1,275 | 75.2% |
| Other financial vehicles | $754 | 42.9% |
| Elec. equip. and wiring merchant wholesalers | $559 | 39.2% |
| Music publishers | $555 | 38.8% |
| Computer and peripheral equipment mfg. | $515 | 25.1% |
Company Size
New Jersey Businesses by Size
The solopreneur company, has the most businesses in New Jersey by far. 62.5% of all businesses in the state have fewer than 5 employees. The 259,531 small businesses in the state represent 95.7% of all private businesses. The national average is 92.4%. (Small businesses have fewer than 50 employees, Solopreneurs employ fewer than 5.) New Jersey added 11,087 businesses in the last year, an increase of 4.3% as compared to the national average of 3.0%.Small businesses are defined as companies with fewer than 50 employees. These small businesses added 10,938 businesses in the last year, which is an increase of 4.4% as compared to the national average of 3.1%.
Mid-sized businesses are defined as companies with between 50 and 499 employees. These mid-sized businesses added 151 businesses in the last year, which is an increase of 1.4% as compared to the national average of 1.3%.
Large businesses are defined as companies with more than 500 employees. These large businesses declined 2 businesses in the last year, which is a decrease of 0.4% as compared to the national average of 2.1%.
New Jersey Employees by Business Size
New Jersey added 150,277 employees in the last year, an increase of 4.6% as compared to the national average of 5.2%. Small businesses are defined as companies with fewer than 50 employees. These small businesses added 71,988 businesses in the last year, which is an increase of 38.4% as compared to the national average of 4.2%.Mid-sized businesses are defined as companies with between 50 and 499 employees. Mid-sized businesses added 55,976 employees in the last year, which is an increase of 4.4% as compared to the national average of 4.7%.
Large businesses are defined as companies with more than 500 employees. Large businesses added 22,313 employees in the last year, which is an increase of 3.9% as compared to the national average of 9.2%.
New Jersey Avg Weekly Wages by Business Size
The smallest companies in New Jersey (those with fewer than 5 employees) pay workers 5.0% more than the national average ($1,058 per week as compared to the national average of $1,005 per week). The largest companies in New Jersey (those with more than 1,000 employees) pay 15.2% workers above the national average ($2,257 per week as compared to the national average of $1,913 per week).Average weekly wages in small businesses added $80 per week in the last year, which is an increase of 1.9% as compared to the national average of 3.1%. Employees of mid-sized businesses added $59 in wages per week in the last year, which is an increase of 1.4% as compared to the national average of 1.3%.
Employees of large businesses added $11 of weekly wages in the last year, which is an increase of 0.2% as compared to the national average of 2.1%.
Top Industries for Business and Employment
The table below illustrates the largest industries in the state, by number of businesses:Table: Top 10 Industries by # of Businesses
| Industry | # Businesses | % Change |
|---|---|---|
| Restaurants and other eating places | 16,584 | 2.6% |
| Computer systems design and related services | 9,119 | 1.8% |
| Offices of physicians | 7,967 | -0.6% |
| Services for the elderly and disabled | 7,345 | 1.5% |
| Residential building construction | 6,244 | 4.4% |
| Hair nail and skin care services | 6,134 | 3.9% |
| Management consulting services | 5,873 | 2.8% |
| Offices of lawyers | 5,364 | -0.1% |
| Landscaping services | 4,593 | 2.9% |
| Offices of dentists | 4,570 | 0.0% |
The table below illustrates the largest industries in the state, by number of employees:
Table: Top 10 Industries by # of Employees
| Industry | # Employees | % Change |
|---|---|---|
| Restaurants and other eating places | 232,678 | 1.8% |
| General medical and surgical hospitals | 140,638 | 0.5% |
| Temporary help services | 101,199 | 2.7% |
| Management of companies and enterprises | 85,537 | 2.2% |
| Offices of physicians | 81,725 | 1.1% |
| Supermarkets and other grocery stores | 78,943 | -0.7% |
| Computer systems design and related services | 71,076 | 0.3% |
| Home health care services | 50,131 | 1.9% |
| Department stores | 49,639 | -4.4% |
| General warehousing and storage | 49,374 | 5.5% |
The table below illustrates the largest industries in the state, by highest wages:
Table: Top 10 Industries by Weekly Wage
| Industry | Wkly Wages | % Change |
|---|---|---|
| Trusts estates and agency accounts | $112,235 | 0.0% |
| Communication and energy wire and cable mfg. | $5,950 | 0.0% |
| Reinsurance carriers | $4,053 | 0.9% |
| Industrial gas manufacturing | $4,029 | 8.5% |
| Research and development in the physical engineering and life sciences | $3,624 | 4.7% |
| Magnetic media manufacturing and reproducing | $3,603 | 251.9% |
| Securities brokerage | $3,297 | -1.0% |
| Credit card issuing | $3,206 | -4.9% |
| Portfolio management | $3,204 | 10.7% |
| Marine cargo handling | $3,185 | -1.0% |
Data Sources
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