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Health Care Study: Summer 2018  

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 cluster contributed nearly $37 billion to New Jersey's
  Real Gross Domestic Product (GDP) in 2015, or roughly 7.3 percent of all
  state output (latest available from the U.S. Bureau of Economic
  Analysis).
  
  

• From 1990 through 2016, the health care sectorin New Jersey has added
    213,200new jobs, while all other industries combined
  had a net gain of only 190,100.
  
  

• Health care is the only industry that has added jobs in the state every
  year from 1990 through 2016 while increasing its share of jobholding
  from 7.5 percent in 1990 to 11.9 percent in 2016.
  
  

Bio Pharma Life Science Study: Summer 2018

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 life sciences employment totaled over 117,260 in 2016,
  or 3.5 percent of the state's private sector workforce.  Nationally, the
  proportion was just 1.9 percent.
  
  

• Establishments totaled over 3,200 in 2016.  Despite recent reorganizations by
  pharmaceutical firms, the drug and pharmaceutical component's establishment
  count increased between 2011 and 2016 by 10.5 percent, slightly slower than the
  nation (+15.0%) over the same period.

TLD Study: Summer 2018

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

• In 2016, transportation. logistics and distribution (TLD) employed 382,228
  workers in New Jersey. The cluster employed 11.3 percent of the state's
  private sector workers, a higher percentage than for the nation (8.8%).
  
  

• TLD contributed $58.4 billion to the state's Real Gross Domestic Product
  (GDP-chained 2009 dollars) in 2016.

• In 2016, the Port of New York and New Jersey handled 3,602,508 cargo
  containers, valued at nearly $200 billion.
  (Source: PONYNJ Terminal Operator Data)

LHR Study: Summer 2018
New Jersey has a well-earned reputation as a place for great entertainment,
vacations and shopping which is why the LHR industry continues to thrive
throughout the state.

• LHR jobholding totaled 826,776 in 2016, or 24.4 percent of the state's
  private sector workers, a lower percentage than for the natiion (26.0%).
  
  

• Many of the businesses within LHR are involved in New Jersey's travel
  and tourism and directly support 321,231 jobs in 2016.

• According to the NJ Division of Travel and Tourism, the state again set
  a record in 2016, with the tourism industry accounting for $44.1 billion
  in economic impact — an increase of more than 2.9 percent over the
  previous year.

Financial Services Study: Summer 2018

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 (5.3% of New Jersey's 
  total private sector employment in 2016)  finance and insurance
  contributed almost $31 billion or roughly 6.8 percent to the state's Real
  Gross Domestic Product in 2016.
  
  
• According to the NJ Business and Industry Association, 18 of the state's
  top 100 employers are finance and insurance firms whose combined
  employment represents approximately 42.8 percent of jobholding in
  the finance and insurance industry sector.

Advanced Manufacturing Study: Summer 2018

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.

• In 2016, there were more than 159,500 people employed in industries
  classified as advanced manufacturing in New Jersey, or about 66 percent
  of manufacturing employment statewide.
  
  

• The advanced manufacturing cluster contributed over $30.9 billion
  to New Jersey's Real Gross Domestic Product in 2016, or about 6.1
  percent of all state output.  (latest available from the U.S. Bureau of
  Economic Analysis).
  
  

• Advanced manufacturing employment is primarily comprised of five
  industry groups:  chemical manufacturing (27%), food manufacturing
  (21%), computer and electronic product manufacturing (14%), fabricated
  metal manufacturing (13%) and machinery manufacturing (9%).  The
  remaining 16 percent is made up of selected detailed industries.

Technology Study: Summer 2018

Industries in the technology cluster have a high proportion of scientists,
engineers and technicians.  They are primarily located in the
utilities, manufacturing, information and professional, scientific and
technical services industries.

• In 2016 New Jersey's technology cluster accounted for 366,330 jobs
  or 10.8 percent of private sector employment statewide.  Nationally
  the cluster was responsible for 9.5 percent of all private sector
  employment.

• The annual average wage for the technology cluster was $118,210
  in 2016, or 189.3 percent of the statewide average ($62,420) for all industries. 
  Employers in the industry paid nearly $43.3 billion in wages or about 20.5 percent
  of the total wages paid in all industries.

• Employment within the technology cluster can primarily be found within the
  following sectors: professional, scientific and technical services (50.9%),
  manufacturing (17.5%), wholesale trade (15.8%), and information (13.7%).

Construction-Utilities Study: Summer 2018
 

The construction and utilities sector provides many employment opportunities for
blue collar workers to earn above average salaries.

• Since 2012, the construction and utilities sector had a strong yearly average
  employment increase of 3.8 percent versus the statewide average of 1.4 percent.
  
  
• Seventy-five percent of construction and utility employment require less than
  a bachelor’s degree, but the average wages in the sector are 16.9 percent higher
  than the statewide  average.
  
  
• From 2014 to 2024, the construction and utilities sector is projected to
  increase its employment by an average of 1.3 percent annually while
  creating 22,150 new jobs.