Are you looking for storage spaces for rent in New Jersey? Take a look into the listings above to discover the perfect place for you.The main industries in New Jersey are varied and encompass a range of sectors, from finance and insurance to pharmaceuticals and biotechnology. This diversity has enabled the state to remain competitive in terms of labor, GDP, and economic trends.
In terms of labor, New Jersey has a highly educated workforce, with nearly half of the population having college degrees. This labor force has proven to be an asset to the state's industries, as evidenced by the growth in the number of jobs in the state. In 2022, the number of jobs in New Jersey increased, leaving the garden state with a total of 4,265,700 jobs. (https://www.bls.gov/regions/new-york-new-jersey/new_jersey.htm#eag)
New Jersey's GDP in 2021 was $700.1 billion, making it the ninth-largest GDP in the United States. (https://balancingeverything.com/gdp-by-state/)
Its GDP is driven by the financial services and insurance sector, which accounted for 22.2% of the state's GDP in 2018. Additionally, the pharmaceutical and biotechnology industry contributed 8.3% to the state's GDP, making it the second-largest contributor.
When looking at economic trends, New Jersey has shown strong growth since the Great Recession. In the last decade, the state's GDP has grown by an average of 2.2% annually, with the finance and insurance sector having the highest rate of growth (4.4%).
In terms of rankings, New Jersey has an A+ grade from the Tax Foundation for overall economic environment, which is based on the state's tax burden and its overall economic conditions. The state also ranks 13th in the nation in terms of the number of Fortune 500 companies, with sixteen companies headquartered there.(https://www.statista.com/statistics/303696/us-fortune-500-companies-by-state/)
Overall, the main industries in New Jersey are diverse and have enabled the state to remain competitive in terms of labor, GDP, and economic trends. The state's highly educated labor force and its robust financial services and insurance sector have been key drivers of the state's economic growth and success.