New Jersey Q4, 2019 Employment Statistics- 281,593 employers, up 2.9% from 273,567
- 4,147,749 employees, up 0.8% from 4,115,599
- $1,332 average weekly wage, up 2.5% from $1,299
- The average weekly wage is 12.4% 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 8,026, which is an increase of 2.9%. The number of employees in New Jersey increased by 32,150, an increase of 0.8%. During this same period, the average weekly wage increased by $33, an increase of 2.5%.
The number of private employers increased since last years' Q1. The number of private businesses increased by 7,973 or 3.0%. Growth in private businesses in New Jersey grew faster than the national average of 2.5%. The number of employees in these businesses increased since last years' Q1, increasing by 30,740 or 0.9%. The growth in employees of private businesses in New Jersey was slower than the national average of 1.2%.
The average weekly wage of employees of private businesses increased since last years' Q1. The averge weekly wage increased by $40 or 3.1%. 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 Healthcare with 13.1% of the businesses in the state. The number of businesses in this sector increased by 9.4%. Professional services (12.0%), which decreased by 1.0% and Retail trade (10.6%), which increased by 0.1%, round out the 3 largest sectors.
Table: Sectors by Year-over-Year Qtly Business Change %
| Sector | Change Biz | % Change |
|---|---|---|
| Healthcare | 3,179 | 9.4% |
| Company management | 48 | 3.1% |
| Transport and warehousing | 211 | 2.8% |
| Arts and entertainment | 104 | 2.7% |
| Real estate and rental | 132 | 1.5% |
| Educational services | 45 | 1.1% |
| Waste services | 166 | 1.0% |
| Other services | 250 | 1.0% |
| Accommodation and food services | 215 | 1.0% |
| Information | 11 | 0.3% |
| Retail trade | 26 | 0.1% |
| Manufacturing | 3 | 0.0% |
| Finance and insurance | -48 | -0.4% |
| Construction | -82 | -0.4% |
| Utilities | -2 | -0.5% |
| Professional services | -328 | -1.0% |
| Mining and oil extraction | -1 | -1.1% |
| Agriculture and forestry | -10 | -1.1% |
| Wholesale trade | -211 | -1.3% |
Employees by Sector
The sector with the greatest number of employees in the state is Healthcare with 14.3% of the employees in the state, had an increase in employees of 2.0% in the last year. Retail trade (11.0%), decreased by 1.5% and Accommodation and food services (7.7%), increased by 0.6%, round out the top 3 sectors.Table: Sectors by Year-over-Year Qtly Employee Change %
| Sector | Employee Change | % Change |
|---|---|---|
| Mining and oil extraction | 77 | 5.8% |
| Transport and warehousing | 11,485 | 5.6% |
| Agriculture and forestry | 350 | 4.0% |
| Real estate and rental | 2,082 | 3.5% |
| Company management | 2,581 | 3.0% |
| Arts and entertainment | 1,272 | 2.1% |
| Healthcare | 11,667 | 2.0% |
| Educational services | 1,188 | 1.4% |
| Construction | 2,220 | 1.4% |
| Manufacturing | 2,441 | 1.0% |
| Professional services | 2,890 | 1.0% |
| Other services | 1,244 | 0.9% |
| Accommodation and food services | 1,857 | 0.6% |
| Information | 70 | 0.1% |
| Finance and insurance | -1,267 | -0.7% |
| Wholesale trade | -1,973 | -0.9% |
| Retail trade | -6,798 | -1.5% |
| Waste services | -4,458 | -1.5% |
| Utilities | -875 | -5.8% |
Average Weekly Wage by Sector
The sector that pays their employees the highest is Company management paying $3,087per week compared with the state average of $1,323. Weekly wages in this sector rose by $8 or 0.3%. Finance and insurance ($2,452), rose by $157 or 6.8% and Professional services ($2,410) increased by $103 or 4.5% round out the 3 largest sectors.Table: Sectors by Year-over-Year Weekly Wage Change %
| Sector | Wage Change | Change % |
|---|---|---|
| Finance and insurance | $157 | 6.8% |
| Mining and oil extraction | $107 | 6.8% |
| Waste services | $46 | 5.3% |
| Professional services | $103 | 4.5% |
| Retail trade | $27 | 4.0% |
| Agriculture and forestry | $23 | 3.2% |
| Information | $62 | 3.0% |
| Construction | $43 | 2.8% |
| Healthcare | $29 | 2.7% |
| Educational services | $28 | 2.7% |
| Manufacturing | $39 | 2.5% |
| Utilities | $57 | 2.5% |
| Wholesale trade | $40 | 2.3% |
| Other services | $11 | 1.5% |
| Accommodation and food services | $6 | 1.3% |
| Transport and warehousing | $5 | 0.5% |
| Company management | $8 | 0.3% |
| Real estate and rental | $-9 | -0.6% |
| Arts and entertainment | $-69 | -6.8% |
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 5.9% of the businesses in the state (with 16,537 employing 222,807 workers). The Restaurants and other eating places industry had 139 more businesses, an increase of 0.8% in the last year. Services for the elderly and disabled (3.6% of businesses) added 2,897 businesses, an increase of 39.4% and Computer systems design and related services (3.2% of businesses) had 210 fewer businesses, a decline of 2.3% round out the 3 industries with the most businesses.Table: Top 7 Industries by Business Change %
| Industry | Business Chg | % Change |
|---|---|---|
| Tobacco manufacturing | 6 | 150.0% |
| Carpet and rug mills | 3 | 100.0% |
| Skiing facilities | 2 | 66.7% |
| Magnetic media manufacturing and reproducing | 18 | 62.1% |
| Battery manufacturing | 1 | 50.0% |
| Forest nursery and gathering forest products | 1 | 50.0% |
| Casinos except casino hotels | 3 | 50.0% |
Table: Top 7 Industries by Business Change #
| Industry | Business Chg | % Change |
|---|---|---|
| Services for the elderly and disabled | 2,897 | 39.4% |
| Private households | 274 | 6.2% |
| Medical and diagnostic laboratories | 189 | 21.0% |
| General freight trucking long-distance | 162 | 11.1% |
| Pharmacies and drug stores | 151 | 6.5% |
| Restaurants and other eating places | 139 | 0.8% |
| Office administrative services | 103 | 7.9% |
Employees by Industry
Services for the elderly and disabled (3.6% of employees) added 2,897 employees, an increase of 39.4% and Computer systems design and related services (3.2% ofemployees) had 210 fewer employees, a decline of 2.3% round out the 3 industries with the most employees.Table: Top 7 Industries by Employee Change %
| Industry | Emp Chg | % Change |
|---|---|---|
| Tobacco manufacturing | 38 | 479.2% |
| Advertising material distribution services | 628 | 105.4% |
| Casinos except casino hotels | 256 | 104.7% |
| Family planning centers | 503 | 97.6% |
| Local messengers and local delivery | 2,420 | 85.0% |
| Carpet and rug mills | 4 | 80.0% |
| Steam and air-conditioning supply | 10 | 59.6% |
Table: Top 7 Industries by Employee Change #
| Industry | Emp Chg | % Change |
|---|---|---|
| General warehousing and storage | 5,074 | 9.1% |
| Services for the elderly and disabled | 4,798 | 18.1% |
| Restaurants and other eating places | 3,689 | 1.7% |
| Pharmaceutical and medicine manufacturing | 3,008 | 13.8% |
| Management of companies and enterprises | 2,581 | 3.0% |
| Local messengers and local delivery | 2,420 | 85.0% |
| Couriers and express delivery services | 2,041 | 7.1% |
Average Weekly Wage by Industry
The industry that pays their employees the most is Trusts estates and agency accounts, paying $43,752 compared with the state average of $1,323. Employees in the Trusts estates and agency accounts industry were paid $0 more per week, an increase of 0.0% in the last year. All other financial investment activities ($7,844) and Spectator sports ($6,536) round out the top 3 industries. Employees in the All other financial investment activities ($7,844 per week) were paid $864 more per week, an increase of 12.4% and Spectator sports ($6,536 per week) were paid $1,179 less per week, a decline of 15.3% round out the 3 industries that pay their employees the most.Table: Top 7 Industries by Wage Change %
| Industry | Wkly Chg | % Change |
|---|---|---|
| Tobacco manufacturing | $2,119 | 140.7% |
| Carpet and rug mills | $1,391 | 85.1% |
| Manufactured mobile home dealers | $557 | 67.2% |
| Direct mail advertising | $726 | 55.9% |
| Port and harbor operations | $972 | 52.4% |
| Other gambling industries | $411 | 44.5% |
| Ice cream and frozen dessert manufacturing | $201 | 42.9% |
Table: Top 7 Industries by Wage Change $
| Industry | Wkly Chg | % Change |
|---|---|---|
| Tobacco manufacturing | $2,119 | 140.7% |
| Portfolio management | $1,700 | 40.4% |
| Carpet and rug mills | $1,391 | 85.1% |
| Port and harbor operations | $972 | 52.4% |
| All other financial investment activities | $864 | 12.4% |
| Direct mail advertising | $726 | 55.9% |
| Research and development in the physical engineering and life sciences | $586 | 16.8% |
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 91.2%. (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 | 16,537 | 0.8% |
| Services for the elderly and disabled | 10,255 | 39.4% |
| Computer systems design and related services | 8,914 | -2.3% |
| Offices of physicians | 7,943 | -1.5% |
| Residential building construction | 6,214 | 0.6% |
| Hair nail and skin care services | 6,071 | 0.4% |
| Management consulting services | 5,888 | -0.1% |
| Offices of lawyers | 5,308 | -1.7% |
| Private households | 4,662 | 6.2% |
| Offices of dentists | 4,571 | -0.2% |
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 | 222,807 | 1.7% |
| General medical and surgical hospitals | 142,314 | 1.1% |
| Temporary help services | 106,341 | -2.9% |
| Management of companies and enterprises | 86,821 | 3.0% |
| Offices of physicians | 83,478 | 1.3% |
| Supermarkets and other grocery stores | 78,572 | 0.7% |
| Computer systems design and related services | 71,378 | -0.3% |
| General warehousing and storage | 61,642 | 9.1% |
| Department stores | 55,546 | -2.7% |
| Home health care services | 49,674 | 0.4% |
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 | $43,752 | 0.0% |
| All other financial investment activities | $7,844 | 12.4% |
| Spectator sports | $6,536 | -15.3% |
| Other sound recording industries | $6,187 | -41.9% |
| Portfolio management | $5,913 | 40.4% |
| Securities brokerage | $4,439 | 12.9% |
| Research and development in the physical engineering and life sciences | $4,073 | 16.8% |
| Lessors of nonfinancial intangible assets | $4,030 | -19.5% |
| Tobacco manufacturing | $3,625 | 140.7% |
| Credit card issuing | $3,580 | -45.3% |
Data Sources
About the Writer
