Economy, jobs and prices in New Jersey, United States: official figures
The economy of New Jersey (gross domestic product) was worth $887.8 billion in 2025 at current prices, 2.9% of the US total of $30.86 trillion; 11th largest of 51. In current dollars it was up 4.9% on 2024.
How fast is the economy of New Jersey growing?
After adjusting for inflation, real GDP in New Jersey grew 2.0% in 2025, against 2.3% for the United States; 22nd fastest-growing of 51.
Source: U.S. Bureau of Economic Analysis · saved copyWhat is the GDP per capita of New Jersey?
Dividing 2025 GDP by the Census Bureau's population estimate gives $92,980 of output per resident, against $90,294 for the US economy divided by the population of the 50 states and DC; 13th highest of 51.
Source: U.S. Bureau of Economic Analysis · saved copyIs the economy of New Jersey growing or shrinking?
In the second quarter of 2026, real GDP in New Jersey grew at an annual rate of 1.7% (United States: 2.2%); tied for 25th fastest-growing of 51.
Source: U.S. Bureau of Economic Analysis · saved copyWhat are the main industries in New Jersey?
In 2025 the largest private industry in New Jersey's economy was real estate, rental and leasing (15.8% of GDP), followed by professional, scientific and technical services (9.8%) and wholesale trade (9.2%). Government accounted for 9.1% and manufacturing for 8.5%; the manufacturing share was 23rd lowest of 51 (United States: 9.5%).
Source: U.S. Bureau of Economic Analysis · saved copyHow much do people in New Jersey spend?
Consumer spending (personal consumption expenditures) in New Jersey came to $68,561 per person in 2025 (United States: $61,062); 8th highest of 51.
Source: U.S. Bureau of Economic Analysis · saved copyIs New Jersey expensive to live in?
Prices in New Jersey were 8.8% above the national average in 2024, by BEA's regional price parity of 108.8 (US = 100), which covers goods, services and housing; 4th most expensive of 51.
Source: U.S. Bureau of Economic Analysis · saved copyWhat is the inflation rate in New Jersey?
Prices in New Jersey rose 2.5% in 2024, measured by BEA's implicit regional price deflator, against 2.6% nationally (PCE price index).
Source: U.S. Bureau of Economic Analysis · saved copyWhat is the per capita income in New Jersey?
Personal income per person in New Jersey was $89,720 in 2025, against $77,028 for the United States; 7th highest of 51. It was up 4.9% on 2024 and up 27.3% on 2020, before inflation.
Source: U.S. Bureau of Economic Analysis · saved copyWhat is the disposable income per person in New Jersey?
After taxes, disposable personal income per person was $76,689 in 2025 (United States: $67,251); 8th highest of 51.
Source: U.S. Bureau of Economic Analysis · saved copyHow far does income go in New Jersey?
Adjusted for local price levels, real personal income per person in New Jersey was $63,142 in 2024 in 2017 dollars (United States: $59,195); 12th highest of 51.
Source: U.S. Bureau of Economic Analysis · saved copyWhat is the median household income in New Jersey?
Median household income in New Jersey was $104,294 in 2024 (margin of error ±$997), against $81,604 for the United States; 3rd highest of 51 by the point estimate. It was up 1.5% on 2023 after adjusting for inflation (American Community Survey).
Source: U.S. Census Bureau · saved copyHow unequal are incomes in New Jersey?
The Gini index of household income inequality in New Jersey was 0.471 in 2024 (0 means equal incomes, 1 means one household has everything; United States: 0.481); tied for 20th most unequal of 51.
Source: U.S. Census Bureau · saved copyWhat is the unemployment rate in New Jersey?
The unemployment rate in New Jersey was 4.2% in September 2026 (seasonally adjusted, preliminary), down from 5.5% a year earlier; tied for 19th highest of 51. The rate for the 50 states and DC combined was 4.2%.
Source: U.S. Bureau of Labor Statistics · saved copyHow many people are unemployed in New Jersey?
In September 2026, 209,077 people in New Jersey were unemployed and 4,719,305 employed, out of a labor force of 4,928,382.
Source: U.S. Bureau of Labor Statistics · saved copyWhat was the unemployment rate in New Jersey in 2025?
Over 2025 the unemployment rate in New Jersey averaged 5.2% (an 11-month average: October 2025 was not collected during the federal shutdown), against 4.6% in 2024; tied for 4th highest of 51. The lowest annual rate since 1976 was 3.5% in 2019.
Source: U.S. Bureau of Labor Statistics · saved copyWhat is the average salary in New Jersey?
Workers covered by unemployment insurance in New Jersey were paid $86,247 on average in 2025 ($1,659 a week), up 3.5% on 2024; the US average was $78,720. That is 7th highest of 51.
Source: U.S. Bureau of Labor Statistics · saved copyHow many jobs are there in New Jersey?
Employers in New Jersey had an average of 4,282,851 jobs on their payrolls in 2025 across 329,088 establishments, up 0.7% on 2024 (United States: up 0.5%).
Source: U.S. Bureau of Labor Statistics · saved copyWhat is the median wage in New Jersey?
The median annual wage across all occupations in New Jersey was $58,570 in May 2025 (mean $78,040); 9th highest of 51. One in ten workers earned less than $34,450 and one in ten more than $142,750.
Source: U.S. Bureau of Labor Statistics · saved copyWhat is the most common job in New Jersey?
The most common occupation in New Jersey in May 2025 was home health and personal care aides, with 117,080 workers and a median annual wage of $37,090.
Source: U.S. Bureau of Labor Statistics · saved copyWhat is the median household income in New Jersey?
Median household income in New Jersey was $104,202 in 2024, 3rd highest among the 50 states and DC (U.S.: $81,604). In 2019 it was $85,786, so it has risen 21.5% before allowing for inflation.
Source: U.S. Census Bureau · saved copyWhat is the average rent in New Jersey?
The median gross rent in New Jersey, including utilities, was $1,800 a month in 2024, up 8.0% on 2023 ($1,667); 8th highest among the 50 states and DC (U.S.: $1,487).
Source: U.S. Census Bureau · saved copyWhat is the median home value in New Jersey?
Homeowners in New Jersey valued their homes at a median of $496,000 in 2024, up 7.6% on 2023 ($461,000); 9th highest among the 50 states and DC (U.S.: $360,600).
Source: U.S. Census Bureau · saved copyHow affordable are homes in New Jersey?
The median home value in New Jersey was 4.8 times the median household income in 2024 ($496,000 against $104,202); 16th highest ratio among the 50 states and DC (U.S.: 4.4).
Source: U.S. Census Bureau · saved copyIs rent affordable in New Jersey?
A household on the median income in New Jersey would spend 20.7% of its income on the median rent of $1,800 a month in 2024 (U.S.: 21.9%).
Source: U.S. Census Bureau · saved copyHow New Jersey compares with other states
Gross domestic product, 2025 (current dollars) (2025)
New Jersey ranks 11 of 51, highest first.
| Rank | Region | Gross domestic product, 2025 (current dollars) |
|---|---|---|
| 8 | Georgia | $936.1 billion |
| 9 | North Carolina | $895.9 billion |
| 10 | Washington | $892.3 billion |
| 11 | New Jersey | $887.8 billion |
| 12 | Massachusetts | $813.6 billion |
| 13 | Virginia | $807.9 billion |
| 14 | Michigan | $733.9 billion |
GDP per resident, 2025 (BEA GDP / Census population) (2025)
New Jersey ranks 13 of 51, highest first.
| Rank | Region | GDP per resident, 2025 (BEA GDP / Census population) |
|---|---|---|
| 10 | Alaska | $99,875 |
| 11 | Illinois | $97,568 |
| 12 | Colorado | $95,610 |
| 13 | New Jersey | $92,980 |
| 14 | Texas | $92,474 |
| 15 | Virginia | $90,981 |
| 16 | New Hampshire | $90,634 |
Real GDP growth, 2025 (2025)
New Jersey ranks 22 of 51, highest first.
| Rank | Region | Real GDP growth, 2025 |
|---|---|---|
| 19 | Oklahoma | 2.2% |
| 20 | Michigan | 2.2% |
| 21 | Tennessee | 2.1% |
| 22 | New Jersey | 2.0% |
| 23 | Nevada | 2.0% |
| 24 | Montana | 2.0% |
| 25 | Alabama | 2.0% |
Real GDP growth, 2026:Q2 (annual rate) (2026:Q2)
New Jersey ranks 25 of 51, highest first.
| Rank | Region | Real GDP growth, 2026:Q2 (annual rate) |
|---|---|---|
| 22 | Ohio | 2.0% |
| 23 | New Hampshire | 2.0% |
| 24 | Missouri | 1.9% |
| 25 | New Jersey | 1.7% |
| 26 | Tennessee | 1.7% |
| 27 | Iowa | 1.7% |
| 28 | Idaho | 1.5% |
Personal income per person, 2025 (2025)
New Jersey ranks 7 of 51, highest first.
| Rank | Region | Personal income per person, 2025 |
|---|---|---|
| 4 | New York | $91,504 |
| 5 | Wyoming | $91,109 |
| 6 | California | $90,957 |
| 7 | New Jersey | $89,720 |
| 8 | Washington | $88,944 |
| 9 | New Hampshire | $88,145 |
| 10 | Colorado | $86,342 |
Real personal income per person, 2024 (adjusted for local prices, 2017 dollars) (2024)
New Jersey ranks 12 of 51, highest first.
| Rank | Region | Real personal income per person, 2024 (adjusted for local prices, 2017 dollars) |
|---|---|---|
| 9 | New Hampshire | $64,632 |
| 10 | Washington | $64,421 |
| 11 | New York | $64,153 |
| 12 | New Jersey | $63,142 |
| 13 | California | $63,028 |
| 14 | Minnesota | $62,039 |
| 15 | Virginia | $61,914 |
Median household income, 2024 (ACS) (2024)
New Jersey ranks 3 of 51, highest first.
| Rank | Region | Median household income, 2024 (ACS) |
|---|---|---|
| 1 | District of Columbia | $109,707 |
| 2 | Massachusetts | $104,828 |
| 3 | New Jersey | $104,294 |
| 4 | Maryland | $102,905 |
| 5 | Hawaii | $100,745 |
| 6 | California | $100,149 |
| 7 | New Hampshire | $99,782 |
Regional price parity, 2024 (US = 100) (2024)
New Jersey ranks 4 of 51, highest first.
| Rank | Region | Regional price parity, 2024 (US = 100) |
|---|---|---|
| 1 | California | 110.7 |
| 2 | Hawaii | 110.0 |
| 3 | District of Columbia | 109.9 |
| 4 | New Jersey | 108.8 |
| 5 | New York | 107.9 |
| 6 | Washington | 107.0 |
| 7 | Massachusetts | 105.8 |
Unemployment rate, September 2026 (seasonally adjusted) (September 2026)
New Jersey ranks 19 of 51, highest first.
| Rank | Region | Unemployment rate, September 2026 (seasonally adjusted) |
|---|---|---|
| 16 | New York | 4.3% |
| 17 | Massachusetts | 4.3% |
| 18 | Alaska | 4.3% |
| 19 | New Jersey | 4.2% |
| 20 | Oklahoma | 4.2% |
| 21 | Colorado | 4.1% |
| 22 | South Carolina | 4.0% |
Unemployment rate, 2025 annual average (2025)
New Jersey ranks 5 of 51, highest first.
| Rank | Region | Unemployment rate, 2025 annual average |
|---|---|---|
| 2 | California | 5.5% |
| 3 | Nevada | 5.3% |
| 4 | Michigan | 5.2% |
| 5 | New Jersey | 5.2% |
| 6 | Oregon | 5.2% |
| 7 | Delaware | 4.8% |
| 8 | Washington | 4.7% |
Labor force participation rate, September 2026 (September 2026)
New Jersey ranks 15 of 51, highest first.
| Rank | Region | Labor force participation rate, September 2026 |
|---|---|---|
| 12 | Wisconsin | 64.9% |
| 13 | New Hampshire | 64.8% |
| 14 | Texas | 64.2% |
| 15 | New Jersey | 63.7% |
| 16 | Maryland | 63.7% |
| 17 | Missouri | 63.3% |
| 18 | Indiana | 63.1% |
Average annual pay, 2025 (QCEW) (2025)
New Jersey ranks 7 of 51, highest first.
| Rank | Region | Average annual pay, 2025 (QCEW) |
|---|---|---|
| 4 | Washington | $99,675 |
| 5 | California | $96,963 |
| 6 | Connecticut | $90,982 |
| 7 | New Jersey | $86,247 |
| 8 | Colorado | $84,153 |
| 9 | Maryland | $81,539 |
| 10 | New Hampshire | $80,892 |
Median annual wage, all occupations, May 2025 (OEWS) (May 2025)
New Jersey ranks 9 of 51, highest first.
| Rank | Region | Median annual wage, all occupations, May 2025 (OEWS) |
|---|---|---|
| 6 | Connecticut | $59,690 |
| 7 | New York | $59,670 |
| 8 | Maryland | $59,510 |
| 9 | New Jersey | $58,570 |
| 10 | California | $58,240 |
| 11 | Oregon | $57,000 |
| 12 | Minnesota | $56,920 |
Median household income (2024)
New Jersey ranks 3 of 51, highest first. Census Bureau SAIPE model estimates
| Rank | Region | Median household income |
|---|---|---|
| 1 | District of Columbia | $109,289 |
| 2 | Massachusetts | $104,569 |
| 3 | New Jersey | $104,202 |
| 4 | Maryland | $102,835 |
| 5 | Hawaii | $101,581 |
| 6 | New Hampshire | $100,364 |
| 7 | California | $100,130 |
Median gross rent (monthly) (2024)
New Jersey ranks 8 of 51, highest first. Renter-occupied units paying cash rent
| Rank | Region | Median gross rent (monthly) |
|---|---|---|
| 5 | Washington | $1,824 |
| 6 | Colorado | $1,822 |
| 7 | Florida | $1,812 |
| 8 | New Jersey | $1,800 |
| 9 | Maryland | $1,721 |
| 10 | Nevada | $1,709 |
| 11 | Arizona | $1,672 |
Median value of owner-occupied homes (2024)
New Jersey ranks 9 of 51, highest first. Owner-reported value
| Rank | Region | Median value of owner-occupied homes |
|---|---|---|
| 6 | Colorado | $574,600 |
| 7 | Utah | $545,200 |
| 8 | Oregon | $497,500 |
| 9 | New Jersey | $496,000 |
| 10 | New Hampshire | $458,800 |
| 11 | Rhode Island | $455,700 |
| 12 | Nevada | $455,500 |
More on New Jersey: overview · health · education and schools · poverty and living standards · government budget · the United States
Sources
- U.S. Census Bureau: Household Income in States and Metropolitan Areas: 2024 (ACSBR-025), Appendix Table 1: median household income and Gini index by state, 2023 and 2024 American Community Survey, read 23 October 2026 · saved copy (SHA-256 5de1b0d5ec46…)
- U.S. Bureau of Economic Analysis: SASUMMARY: State annual summary statistics: personal income, GDP, consumer spending, price indexes, and employment (updated 30 September 2026), read 23 October 2026 · saved copy (SHA-256 a3757d207c05…)
- U.S. Bureau of Economic Analysis: SAGDP: Annual GDP by state, 1997-2025 (table SAGDP2, GDP in current dollars by industry), read 23 October 2026 · saved copy (SHA-256 3d3c5bc7bd24…)
- U.S. Bureau of Economic Analysis: SQGDP: Quarterly GDP by state, 2005-2026 Q2 (table SQGDP11, percent change in real GDP at annual rate), read 23 October 2026 · saved copy (SHA-256 1649260cdceb…)
- U.S. Bureau of Labor Statistics: Local Area Unemployment Statistics: employment status of the civilian noninstitutional population, states, monthly, seasonally adjusted, read 23 October 2026 · saved copy (SHA-256 7bb6f18d4145…)
- U.S. Bureau of Labor Statistics: Local Area Unemployment Statistics: employment status of the civilian noninstitutional population, states, annual averages 1976-2025, read 23 October 2026 · saved copy (SHA-256 262aba7d00df…)
- U.S. Bureau of Labor Statistics: Occupational Employment and Wage Statistics, May 2025 state estimates (state_M2025_dl.xlsx), read 23 October 2026 · saved copy (SHA-256 74d5be0e1df8…)
- U.S. Bureau of Labor Statistics: Quarterly Census of Employment and Wages, 2025 annual averages, all industries (open data CSV slice), read 23 October 2026 · saved copy (SHA-256 5a5f89142aae…)
- U.S. Census Bureau: American Community Survey 2024 1-year estimates, table-based summary file: Median gross rent (B25064), read 23 October 2026 · saved copy (SHA-256 8624f9775add…)
- U.S. Census Bureau: American Community Survey 2024 1-year estimates, table-based summary file: Median value of owner-occupied homes (B25077), read 23 October 2026 · saved copy (SHA-256 27120d5d8a5f…)
- U.S. Census Bureau: Small Area Income and Poverty Estimates (SAIPE): 2024 poverty and median household income, states and counties, read 23 October 2026 · saved copy (SHA-256 cb52c47d75c1…)
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