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The manufacturing sector in ³Ô¹ÏºÚÁÏ hosts a wide range of processes and products from food and printing to petroleum and pharmaceuticals.

• In 2024, there were over 253,000 people employed in 9,800 establishments classified as manufacturing in ³Ô¹ÏºÚÁÏ
• NJ’s manufacturing industry contributed more than $58.6 billion to the Gross State Product in 2024, making up 9.3% of the total
• The Average Annual Wage for manufacturing employees in ³Ô¹ÏºÚÁÏ was $99,500, 19% above the state average 
• Manufacturing employers paid a total of $25.2 billion in total wages in 2024, 8.2% of all wages paid in the state

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The vitality of the biopharmaceutical and life sciences cluster in ³Ô¹ÏºÚÁÏ is fundamental to the state's economic health with its well-paying jobs.

• In 2024, ³Ô¹ÏºÚÁÏ's life sciences sector comprised 2,400 establishments employing 85,000 people.
• From 2018 to 2024, the sector experienced a job growth of 12,200 positions, marking a 16.7% increase.
• The average annual salary in the life sciences sector was $188,400 in 2024, more than double the state's average salary.
• The sector contributed $16 billion in total wages, accounting for 5.2% of all wages paid in ³Ô¹ÏºÚÁÏ.

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The construction sector provides many employment opportunities for tradespeople and laborers to earn above average salaries.

• In 2023, the construction industry averaged 164,960 in total employment.
• The annual average wage was $86,370 in 2023, 6.8% above the state’s private sector average for all industries.
• The construction industry contributed $18.8 billion to ³Ô¹ÏºÚÁÏ’s Gross State Product.

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Report highlights:

• In 2023, ³Ô¹ÏºÚÁÏ’s finance sector employed 233,500 workers (6.4 percent of all private sector jobs)
• From 2018 to 2023, ³Ô¹ÏºÚÁÏ’s finance sector employment increased by over 11,400 jobs (a 5.1 percent growth rate)
• The average annual wage for workers in the finance sector increased 25.4 percent from 2018 to 2023to more than $157,000 (94.3% higher than the state average wage for all industries). 

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Report highlights:

• F500 companies have consistently comprised 10-11% of NJ private sector employment.
• Three counties are home to 29% of the entire F500 workforce.
• The share of wages attributed to F500 companies grew by 2 percentage points over five years.

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Report highlights:

• The industry had 508,800 jobs in 2023.
• Employers paid $37.3 billion in total wages in 2023, which accounted for 12.6 percent of all wages paid in the private sector.
• The industry contributed $52.8 billion to the Gross Domestic Product, accounting for 8.8 percent of total output.
• The share of health care jobs increased from 7.5% in 1990 to 11.8% in 2023.

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³Ô¹ÏºÚÁÏ has a well-earned reputation as a place for great entertainment, vacations and restaurants which is why the Leisure & Hospitality industry continues to thrive throughout the state.

• ³Ô¹ÏºÚÁÏ’s leisure and hospitality sector employed 395,400 workers, or 10.8 percent of total private sector employment in 2023.
• The industry paid $13.8 billion in total wages, 4.7 percent of all wages paid in the state.
• The sector contributed $21.8 billion to ³Ô¹ÏºÚÁÏ’s Gross State Product.

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Along with other service sectors such as the hospitality industry, retail is a critical point of entry, or “gateway,” into the labor force and provides workers with foundational skills in customer service, punctuality and responsibility.

• The industry employed 430,580 workers in 2023, 11.8% of total private sector employment in ³Ô¹ÏºÚÁÏ.
• Employers paid $19.2 billion in total wages, 6.5 percent of all private sector wages in the state.
• Retail trade contributed $37.3 billion to Gross State Product in 2023.

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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.

• ³Ô¹ÏºÚÁÏ’s technology sector accounted for 207,800 jobs, or 5.7 percent of all private sector employment in 2023.
• Employers paid $32 billion in total wages in 2023, accounting for 11 percent of all wages paid in the private sector.
• The sector paid an average annual wage of $156,305, nearly double the statewide average.
• A highly educated industry, three quarters of its workers possess at least a bachelor’s degree.

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In 2024, transportation, distribution and logistics (TDL) industry employed 447,500 workers in ³Ô¹ÏºÚÁÏ, 12.2 percent of the private sector workforce.

• TDL employers paid $39.4 billion in total wages, or almost 13 percent of all private sector wages paid statewide.
• ³Ô¹ÏºÚÁÏ offers access to 39,000 miles of public roadways, 950 miles of the nation’s freight rail network and NJ Transit system (rail, light rail, bus and paratransit services) with capacity of 900,000 passengers each day.
• The industry contributed $99.1 billion to Gross State Product in 2023 (11.7 percent of total output).

Detailed Industry Analysis