Real GDP (chained 2017 dollars)
$688,761,000,000
2025 · BEA
Real GDP growth
2.0%
2025 · Annual % change in BEA real GDP
Per capita personal income
$89,720
2025 · BEA
Median household income (CPS)
$111,400
2025 · Census CPS ASEC
Poverty rate, all ages (SAIPE)
9.2%
2024 · Census Small Area Income and Poverty Estimates
CPI inflation, U.S.
2.9%
2024 · BLS CPI-U U.S. city average
Nominal GDP (current dollars)
$887,793,000,000
2025 · BEA
Government jobs
623,817
2025 · BLS Current Employment Statistics
GDP
Total economic output.
Real GDP (chained 2017 dollars)
$688,761,000,000
2025 · BEA
Rank
8th in the U.S.
Share of U.S. GDP
2.9%
Real GDP (chained 2017 dollars)
1997–2025$688,761,000,000▲ 52%
BEA, chained 2017 dollars (FRED NJRGSP).
| Indicator | New Jersey | U.S. |
|---|---|---|
| GDP (USD B) | 838 | 29200 |
- •New Jersey's economy is larger than that of Switzerland's neighbours combined in several sectors, led by pharmaceuticals.
GDP Growth
Real growth of output.
Real GDP growth
2.0%
2025 · Annual % change in BEA real GDP
5-year average
+1.9%
Trend
Near average
Real GDP growth
1998–20252%
Annual % change in BEA real GDP (NJRGSP).
| Indicator | New Jersey | U.S. |
|---|---|---|
| Real GDP growth (%) | 2.3 | 2.8 |
- •Warehousing and life sciences drove most of New Jersey's recent growth.
Personal Income
Income per resident.
Per capita personal income
$89,720
2025 · BEA
Personal income per capita
$83,600
Rank
4th in the U.S.
Per capita personal income
1970–2025$89,720▲ 1728%
BEA, current dollars (FRED NJPCPI).
| Indicator | New Jersey | U.S. |
|---|---|---|
| Personal income per capita (USD) | 83600 | 69800 |
- •New Jersey ranks in the national top five for personal income per capita.
Median Household Income
Typical household income.
Median household income (CPS)
$111,400
2025 · Census CPS ASEC
Median household income
$99,800
Rank
2nd in the U.S.
5-year change
+24%
Median household income (CPS)
1984–2025$111,400▲ 301%
Census CPS ASEC, current dollars (FRED MEHOINUSNJA646N).
| Indicator | New Jersey | U.S. |
|---|---|---|
| Median household income (USD) | 99800 | 77719 |
- •Only Maryland rivals New Jersey for the highest median household income.
Poverty Rate
Share living below the poverty line.
Poverty rate, all ages (SAIPE)
9.2%
2024 · Census Small Area Income and Poverty Estimates
Poverty rate
9.7%
Child poverty
12.6%
People in poverty
880,000
Poverty rate, all ages (SAIPE)
1989–20249.2%
Census Small Area Income and Poverty Estimates (FRED PPAANJ34000A156NCEN).
| Indicator | New Jersey | U.S. |
|---|---|---|
| Poverty rate (%) | 9.7 | 12.5 |
- •New Jersey's poverty rate is among the five lowest in the nation.
Inflation
Consumer price change.
CPI inflation, U.S.
2.9%
2024 · BLS CPI-U U.S. city average
CPI inflation, New York–Newark–Jersey City
3.4%
2025 · BLS CPI-U all items
CPI change
+3.1%
Shelter inflation
+4.9%
Food inflation
+2.2%
CPI inflation, U.S.
2007–20242.9%
BLS CPI-U U.S. city average, annual average change (CPIAUCNS).
CPI inflation, New York–Newark–Jersey City
2007–20253.4%
BLS CPI-U all items, New York–Newark–Jersey City, annual average change (CUURS12ASA0).
| Indicator | New Jersey | U.S. |
|---|---|---|
| CPI change (%) | 3.1 | 3.0 |
- •Shelter is the main driver of inflation in the New York–Newark area.
Economic Output
Output per resident and worker.
Nominal GDP (current dollars)
$887,793,000,000
2025 · BEA
GDP per capita
$88,200
Output per worker
$176,000
Rank
6th in the U.S.
Nominal GDP (current dollars)
1997–2025$887,793,000,000▲ 189%
BEA, current dollars (FRED NJNGSP).
| Indicator | New Jersey | U.S. |
|---|---|---|
| GDP per capita (USD) | 88200 | 87200 |
- •Output per worker in New Jersey is well above the U.S. average.
Industry Breakdown
Composition of the economy.
Government jobs
623,817
2025 · BLS Current Employment Statistics
Manufacturing jobs
252,142
2025 · BLS Current Employment Statistics
Construction jobs
165,908
2025 · BLS Current Employment Statistics
Pharma & life sciences
7.5% of GDP
Finance & insurance
9.2%
Professional services
10.4%
Government jobs
1990–2025623,817▲ 7%
BLS Current Employment Statistics, annual average (FRED NJGOVT).
Manufacturing jobs
1990–2025252,142▼ 52%
BLS Current Employment Statistics, annual average (FRED NJMFG).
Construction jobs
1990–2025165,908▲ 12%
BLS Current Employment Statistics, annual average (FRED NJCONS).
| Indicator | New Jersey | U.S. |
|---|---|---|
| Manufacturing share of GDP (%) | 7.5 | 10.2 |
- •New Jersey hosts one of the densest pharmaceutical research clusters in the world.
More figures
GDP
$838 B
8th in the U.S.
GDP per capita
$88,200
Top 10 in the U.S.
Unemployment rate
4.6%
2024
Median annual wage
$59,800
Fortune 500 HQs
18 companies
Leading sector
Pharmaceuticals & life sciences