Newark, NJ-PA, Division Economic Summary
Updated June 28, 2017
This summary presents a sampling of economic information for the area; supplemental data are provided for regions
and the nation. Subjects include unemployment, employment, wages, prices, spending, and benefits. All data are
not seasonally adjusted and some may be subject to revision. Area definitions may differ by subject. For more area
summaries and geographic definitions, see www.bls.gov/regions/economic-summaries.htm.
Unemployment rates for the Newark division,
selected area counties, and the nation
Average weekly wages for all industries by county
Newark division, 4th quarter 2016
(U.S. = $1,067)
Unemployment rates
4.5
United States
4.1
4.9
Newark division
4.2
6.0
Essex Co., NJ
5.1
4.0
Morris Co., NJ
3.4
4.1
Somerset Co.,
NJ
3.5
5.2
Union Co., NJ
4.4
0.0
2.0
4.0
6.0
8.0
May-16
May-17
Source: U.S. BLS, Local Area Unemployment Statistics.
Source: U.S. BLS, Quarterly Census of Employment and Wages.
Over-the-year changes in employment on nonfarm payrolls and employment by major industry sector
12-month percent changes in employment
Percent
Newark division employment
(numbers in thousands)
2.5
2.0
1.5
1.0
0.5
0.0
-0.5
-1.0
May-14
Newark division
May-15
United States
May-16
Source: U.S. BLS, Current Employment Statistics.
May-17
Total nonfarm
Mining, logging, and construction
Manufacturing
Trade, transportation, and utilities
Information
Financial activities
Professional and business services
Education and health services
Leisure and hospitality
Other services
Government
Change from May
May 2017
2016 to May 2017
Number
Percent
-4.2
0.4
0.0
-1.4
1.9
0.1
-4.5
3.4
-0.1
0.1
-4.1
-0.3
0.9
0.0
-0.6
8.9
0.1
-2.0
1.9
-0.1
0.2
-2.3
1,198.3
46.1
74.4
245.7
23.3
78.2
215.5
186.1
99.8
55.0
174.2
Source: U.S. BLS, Current Employment Statistics.
• www.bls.gov/ro6
Over-the-year changes in the selling prices received by
producers for selected industries nationwide
Over-the-year change in the prices paid by urban
consumers for selected categories
12-month percent change in CPI-U, May 2017
12.0
New York area
U.S. city average
10.0
Percent
4.0
2.0
1.0
6.0
5.4
0.0
4.0
0.0
General freight trucking
Hospitals
Insurance agencies and brokerages
3.0
9.9
8.0
2.0
12-month percent changes in PPI
1.8
-1.0
1.9
1.3
All Items
-2.0
0.9
Food
-3.0
Energy
-4.0
May-14
Source: U.S. BLS, Consumer Price Index.
Average annual spending and percent distribution for
selected categories
New York area average annual expenditures 2014-15
May-15
Newark
division
Total, all occupations
All other
$11,359
18.1%
Housing
$24,879
39.6%
Healthcare
$4,146
6.6%
Food
$6,943
11.0%
Transportation
$8,002
12.7%
Total:
$62,872
Employer costs per hour worked for wages and
selected employee benefits by geographic division
Total compensation
Wages and salaries
Total benefits
Paid leave
Vacation
Supplemental pay
Insurance
Retirement and savings
Legally required benefits
United
States
$28.79
$23.86
Marketing managers
85.79
69.30
Financial managers
81.20
67.17
Lawyers
73.55
67.25
Software developers, applications
50.42
50.14
Accountants and auditors
42.32
36.89
Compliance officers
39.91
33.77
Registered nurses
39.68
34.70
Construction laborers
25.53
18.22
Word processors and typists
20.80
19.22
Security guards
15.07
14.29
Retail salespersons
13.33
13.07
Cooks, fast food
12.15
9.89
Source: U.S. BLS, Occupational Employment Statistics, May 2016.
Source: U.S. BLS, Consumer Expenditure Survey.
Private industry, March 2017
May-17
Average hourly wages for selected occupations
Occupation
Personal
insurance &
pensions
$7,543
12.0%
May-16
Source: U.S. BLS, Producer Price Index.
Middle
Atlantic (1)
$41.55
27.21
14.34
3.10
1.56
2.97
3.37
1.76
3.15
(1) Middle Atlantic includes NJ, NY, and PA.
Source: U.S. BLS, Employer Costs for Employee Compensation.
United
States
$33.11
23.06
10.06
2.30
1.18
1.17
2.65
1.34
2.60
Over-the-year changes in wages and salaries
Percent
3.5
12-month percent changes in ECI
3.0
2.5
2.0
1.5
1.0
0.5
0.0
Mar-14
New York area
Mar-15
United States
Mar-16
Source: U.S. BLS, Employment Cost Index.
New York-New Jersey Information Office • [email protected] • https://www.bls.gov/regions/new-york-new-jersey • 646-264-3600
Mar-17