New Jersey Q1, 2019 Employment Statistics- 276,705 employers, up 4.2% from 265,564
- 4,020,875 employees, up 1.3% from 3,969,092
- $1,399 average weekly wage, up 1.7% from $1,375
- The average weekly wage is 18.2% above the national average
- The cost of living is 22.5% above the national average
Employer & Employee Growth
In the last year, the number of employers in the state increased by 11,141, which is an increase of 4.2%. The number of employees in New Jersey increased by 51,782, an increase of 1.3%. During this same period, the average weekly wage increased by $24, an increase of 1.7%.
The number of private employers increased since last years' Q1. The number of private businesses increased by 11,087 or 4.3%. Growth in private businesses in New Jersey grew faster than the national average of 3.0%. The number of employees in these businesses increased since last years' Q1, increasing by 50,092 or 1.5%. The growth in employees of private businesses in New Jersey was slower than the national average of 1.7%.
The average weekly wage of employees of private businesses increased since last years' Q1. The averge weekly wage increased by $22 or 1.6%. Growth in average weekly wage of employees of private businesses in New Jersey grew slower than the national average of 3.0%.
Leading Sectors
Businesses by Sector
The sector with the greatest number of businesses in the state is Professional services with 12.4% of the businesses in the state. The number of businesses in this sector increased by 2.4%. Healthcare (12.3%), which increased by 2.7% and Retail trade (10.8%), which increased by 0.4%, round out the 3 largest sectors.
Table: Sectors by Year-over-Year Qtly Business Change %
| Sector | Change Biz | % Change |
|---|---|---|
| Transport and warehousing | 321 | 4.5% |
| Arts and entertainment | 143 | 3.8% |
| Other services | 793 | 3.4% |
| Accommodation and food services | 660 | 3.3% |
| Educational services | 127 | 3.3% |
| Waste services | 534 | 3.3% |
| Information | 122 | 3.3% |
| Agriculture and forestry | 27 | 3.0% |
| Real estate and rental | 243 | 2.9% |
| Healthcare | 893 | 2.7% |
| Construction | 575 | 2.6% |
| Professional services | 808 | 2.4% |
| Company management | 36 | 2.4% |
| Manufacturing | 187 | 2.1% |
| Finance and insurance | 176 | 1.5% |
| Utilities | 4 | 1.1% |
| Wholesale trade | 121 | 0.7% |
| Retail trade | 118 | 0.4% |
| Mining and oil extraction | -5 | -5.2% |
Employees by Sector
The sector with the greatest number of employees in the state is Healthcare with 14.5% of the employees in the state, had an increase in employees of 1.4% in the last year. Retail trade (11.0%), decreased by 1.5% and Accommodation and food services (7.6%), increased by 3.6%, round out the top 3 sectors.Table: Sectors by Year-over-Year Qtly Employee Change %
| Sector | Employee Change | % Change |
|---|---|---|
| Transport and warehousing | 7,119 | 3.8% |
| Accommodation and food services | 10,495 | 3.6% |
| Real estate and rental | 2,011 | 3.5% |
| Arts and entertainment | 1,760 | 3.3% |
| Educational services | 2,097 | 2.7% |
| Waste services | 6,421 | 2.4% |
| Manufacturing | 5,682 | 2.3% |
| Company management | 1,807 | 2.2% |
| Agriculture and forestry | 146 | 2.1% |
| Other services | 2,620 | 2.0% |
| Healthcare | 8,311 | 1.4% |
| Construction | 1,636 | 1.1% |
| Professional services | 2,356 | 0.8% |
| Mining and oil extraction | 9 | 0.7% |
| Wholesale trade | 335 | 0.2% |
| Finance and insurance | -7 | 0.0% |
| Utilities | -155 | -1.0% |
| Retail trade | -6,681 | -1.5% |
| Information | -3,404 | -4.9% |
Average Weekly Wage by Sector
The sector that pays their employees the highest is Company management paying $4,572per week compared with the state average of $1,415. Weekly wages in this sector rose by $47 or 1.0%. Finance and insurance ($3,501), rose by $7 or 0.2% and Information ($2,787) increased by $120 or 4.5% round out the 3 largest sectors.Table: Sectors by Year-over-Year Weekly Wage Change %
| Sector | Wage Change | Change % |
|---|---|---|
| Arts and entertainment | $46 | 6.2% |
| Retail trade | $37 | 5.6% |
| Mining and oil extraction | $75 | 4.7% |
| Information | $120 | 4.5% |
| Professional services | $69 | 3.0% |
| Healthcare | $29 | 2.9% |
| Waste services | $25 | 2.8% |
| Agriculture and forestry | $18 | 2.7% |
| Other services | $16 | 2.3% |
| Manufacturing | $36 | 2.1% |
| Educational services | $13 | 1.3% |
| Construction | $16 | 1.2% |
| Company management | $47 | 1.0% |
| Transport and warehousing | $6 | 0.6% |
| Wholesale trade | $9 | 0.5% |
| Real estate and rental | $7 | 0.5% |
| Finance and insurance | $7 | 0.2% |
| Accommodation and food services | $-13 | -2.9% |
| Utilities | $-151 | -5.5% |
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 16,523 employing 216,172 workers). The Restaurants and other eating places industry had 613 more businesses, an increase of 3.9% in the last year. Computer systems design and related services (3.3% of businesses) added 245 businesses, an increase of 2.8% and Offices of physicians (2.9% of businesses) added 171 businesses, an increase of 2.2% round out the 3 industries with the most businesses.Table: Top 7 Industries by Business Change %
| Industry | Business Chg | % Change |
|---|---|---|
| Tobacco manufacturing | 4 | 400.0% |
| Casinos except casino hotels | 5 | 250.0% |
| Major household appliance manufacturing | 2 | 200.0% |
| Support activities for forestry | 4 | 100.0% |
| Carpet and rug mills | 2 | 66.7% |
| Open-end investment funds | 5 | 50.0% |
| Battery manufacturing | 1 | 50.0% |
Table: Top 7 Industries by Business Change #
| Industry | Business Chg | % Change |
|---|---|---|
| Restaurants and other eating places | 613 | 3.9% |
| Private households | 308 | 7.9% |
| Residential building construction | 271 | 4.6% |
| Computer systems design and related services | 245 | 2.8% |
| Medical and diagnostic laboratories | 241 | 33.4% |
| Hair nail and skin care services | 228 | 3.9% |
| Management consulting services | 201 | 3.5% |
Employees by Industry
Computer systems design and related services (3.3% of employees) added 245 employees, an increase of 2.8% and Offices of physicians (2.9% ofemployees) added 171 employees, an increase of 2.2% round out the 3 industries with the most employees.Table: Top 7 Industries by Employee Change %
| Industry | Emp Chg | % Change |
|---|---|---|
| Beef cattle ranching farming and feedlots | 71 | 229.5% |
| Carpet and rug mills | 4 | 86.7% |
| Family planning centers | 400 | 81.1% |
| Other performing arts companies | 59 | 72.3% |
| Food crops grown under cover | 98 | 71.8% |
| Accessories and other apparel manufacturing | 395 | 62.5% |
| Health and welfare funds | 57 | 61.5% |
Table: Top 7 Industries by Employee Change #
| Industry | Emp Chg | % Change |
|---|---|---|
| Restaurants and other eating places | 6,086 | 2.9% |
| Casino hotels | 4,953 | 25.7% |
| Temporary help services | 4,729 | 5.0% |
| Pharmaceutical and medicine manufacturing | 2,560 | 11.7% |
| General warehousing and storage | 2,489 | 5.1% |
| Management of companies and enterprises | 1,807 | 2.2% |
| Couriers and express delivery services | 1,542 | 6.4% |
Average Weekly Wage by Industry
Computer systems design and related services ($3) and Offices of physicians ($3) round out the top 3 industries. Employees in the Computer systems design and related services ($3 per week) were paid $245 more per week, an increase of 2.8% and Offices of physicians ($3 per week) were paid $171 more per week, an increase of 2.2% round out the 3 industries that pay their employees the most.Table: Top 7 Industries by Wage Change %
| Industry | Wkly Chg | % Change |
|---|---|---|
| Carpet and rug mills | $5,684 | 327.0% |
| Other financial vehicles | $2,717 | 148.1% |
| Coal and other mineral merchant wholesalers | $1,695 | 97.1% |
| Sound recording studios | $340 | 81.9% |
| Other sound recording industries | $408 | 80.2% |
| Credit bureaus | $2,817 | 77.4% |
| Frozen food manufacturing | $564 | 65.7% |
Table: Top 7 Industries by Wage Change $
| Industry | Wkly Chg | % Change |
|---|---|---|
| Carpet and rug mills | $5,684 | 327.0% |
| Credit bureaus | $2,817 | 77.4% |
| Other financial vehicles | $2,717 | 148.1% |
| Coal and other mineral merchant wholesalers | $1,695 | 97.1% |
| Frozen food manufacturing | $564 | 65.7% |
| Magnetic media manufacturing and reproducing | $539 | 45.7% |
| Spectator sports | $517 | 8.5% |
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 92.9%. (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%.
Data Sources
About the Writer
