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Health Care Study:  December 2011 
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 industry contributed $34 billion to New Jersey's Gross
  Domestic Product (GDP) in 2009, or roughly 7 percent of all
  state output. 
  
  
• From 1990 through 2010, the health care sector in New Jersey has
  added 154,800 new jobs, while all other industries combined had a
  net gain of only 54,600.
  
  
• Health care establishment employees paid more than $21.3 billion in
  total wages in 2010, or about 12.2 percent of all wages paid in New
  Jersey.
  
  

Health Care Labor Market View
New Jersey’s Economic Health Depends on Health Care Industry
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 industry contributed over $32 billion to New Jersey’s
  Gross Domestic Product in 2008 (roughly 7% of all output).
  
  
• New Jersey employers, across all health care industries, paid more than
  $21 billion in wages in 2009

Bio Pharma Life Science Study:  December 2011 
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 bio/pharma life sciences employment totaled 122,803
  in 2010, or 3.9 percent of the state's private sector workforce.
  Nationally, the proportion was just 2.0 percent.
  
  
• Over the past five years, the cluster's establishments have expanded
  by 13.2 percent in New Jersey, outpacing the nation by 3.6
  percentage points.

Bio Pharma Life Science Labor Market View
NJ's Changing Biopharm/Life Sciences Industry Reaches Beyond Traditional
Pharmaceuticals
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;

• Accounted for $23 billion or nearly 5.0 percent of New Jersey’s gross domestic product.
  
  
• Invested nearly $20 billion in research and development, the 3rd most among the 50 states.

TLD Study:  January 2012 
The real estate ideal of "location, location, location" aptly describes
New Jersey's transportation, logistics and distribution industry.

• In 2010, transportation. logistics and distribution (TLD) employed 354,627
  workers in New Jersey.  The cluster employed 11.3 percent of the state's
  private sector workers, a higher percentage than for the nation (8.9%).
  
  
• TLD contributed 48.6 billion dollars to the state's Gross Domestic Product
  (GDP) in 2009.
  
  

• In 2010. employers in the state's TLD industry cluster paid a total of $23.0
  billion in wages..
  
  
• The dense population (1.195 persons per square mile) and higher income level
  ($50,221 2009 median household income) of New Jersey and the region
  surrounding it makes the Garden State a prime location from which to
  distribute goods to consumer outlets.
  
  

• Located between New York City and Philadelphia, New Jersey is within a day's
  drive of 40 percent of the US population who purchase $2 trillion in merchandise
  yearly.
  
  
• The state offers access to the nation's freight rail network and the state's
  commuter rail network and is home to several key transportation facilities
  necessary for a strong TLD industry cluster including three major seaports
  and a large international airport.

TLD Labor Market View
New Jersey Well Positioned for Transportation, Logistics and Distribution

The real estate ideal of, “location, location, location,” aptly describes New Jersey.

• New Jersey has 36,000 miles of highways and 500,000 trucks move freight over
  these roads daily.
  
  
• Within a day’s drive of the Garden State, truckers can reach 40 percent of the
  US population, or 100 million consumers who purchase $2 trillion in merchandise
  each year.

LHR Study:  November 2011 
Many of the businesses within leisure, hospitality and retail trade also directly
and indirectly support the state's tourism industry

• Leisure, hospitality and retail trade (LHR) employment totaled 766,410
  in 2009, or 24 percent of all private sector workers in the state. In
  comparison, the cluster represented 25.8 percent of the nation's
  private sector employment in 2009.
  
  
• Based on the latest report from the Division of Travel and Tourism,
  the state's "core tourism", defined as industries providing direct
  services to visitors, supported nearly 310,000 private sector jobs and
  over $10 billion in wages and salaries in 2010.

• Leisure, hospitality and retail trade (LHR) employment totaled 766,410 in 2009,
  or 24 percent of all private sector workers in the state.
  
  

Financial Services Study: December 2011 

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 (5.9% of total employment
  in 2010) finance and insurance contributed $41.7 billion or 9.7 percent
  to the state's Gross Domestic Product in 2010.
  
  
• New Jersey's financial services sector lost 7.9 percent of its employment
  base from 2007 falling to a level of 199,000 in 2010.  However, finance
  and insurance saw a 16.9 percent rise in jobholding from 1990 to
  2007, adding approximately 31,200 jobs.

Financial Services Labor Market View
Garden State the Destination for Financial Services Businesses

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.

• New Jersey has one of the most extensive fiber optic networks in the world
  to support the financial industry's high-speed communications needs.
  
  
• The state has a highly educated talent pool - more than 34 percent of New
  Jersey's workforce has earned a bachelor's degree or higher.
  
  
  
  
  

Advanced Manufacturing Study:  January 2012 
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.

• The advanced manufacturing industry contributed over $17 billion to New
  Jersey's Gross Domestic Product in 2009, or about 3.6 percent of all
  state output.
  
  
• Advanced manufacturing employment is primarily comprised of four
  industry groups:  chemical manufacturing (46%), computer and
  electronic product manufacturing (22%), machinery manufacturing (11%),
  and transportation equipment manufacturing (3%).
  
  
•  The remaining 18 percent is made up of selected detailed industries.
  
  
• In 2010, there were nearly 123,000 people employed in industries
  classified as advanced manufacturing in New Jersey.  This represents
  about 48 percent of all manufacturing employment in New Jersey.
  
  
• Chemical manufacturing industries employed over 56,000 in 2010, 21.9
  percent of all manufacturing workers in the state.  New Jersey also
  hosts over seven percent of all chemical manufacturing employment
  in the United States.
  
  
• The state's advanced manufacturing industry establishments paid a total
  of more than $11.8 billion in wages in 2010, or roughly 6.8 percent of
  New Jersey's total wages.

Issue # 13 (9/22/11)
Advanced Manufacturing Creates the Products and Processes of Tomorrow

The term "advanced manufacturing" is often used to describe products or processes
that utilize technological advances to enhance the way we make things or the things
that we make. In this issue of NJ Labor Market Views learn how advanced
manufacturing and its ongoing innovation is vital to New Jersey's continued economic
success.

• In 2009, there were more than 127,000 jobs within industries classified as advanced
  manufacturing.
  
  

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