New Jersey - Income

According to the Bureau of Economic Analysis, in 2001, New Jersey had a per capita personal income (PCPI) of $38,625 which ranked 4th in the United States (including the District of Columbia) and was 127% of the national average, $30,413. The 2001 PCPI reflected an increase of 2.4% from 2000 compared to the national change of 2.2%. In 2001, New Jersey had a total personal income (TPI) of $328,742,929,000 which ranked 7th in the United States and accounted for 3.8% of the national total. The 2001 TPI reflected an increase of 3.3% from 2000 compared to the national change of 3.3%.

Earnings of persons employed in New Jersey increased from $218,793,481,000 in 2000 to $222,367,909,000 in 2001, an increase of 1.6%. The largest industries in 2001 were services, 31.0% of earnings; state and local government, 11.2%; and finance, insurance, and real estate, 10.5%. Of the industries that accounted for at least 5% of earnings in 2001, the slowest growing from 2000 to 2001 was nondurable goods manufacturing (9.0% of earnings in 2001), which decreased 12.3%; the fastest was construction (5.1% of earnings in 2001), which increased 10.0%.

According to data released by the US Census Bureau, in 2000, the median household income was $51,032 compared to the national average of $42,148. In 2001, the median income for a family of four was $80,577 compared to the national average of $63,278. For the period 1999 to 2001, the average poverty rate was 7.7% which placed it 6th among the 50 states and the District of Columbia ranked lowest to highest.