SNJ Business People

A Snapshot of Where South Jersey’s Economy Stands…

01/24/10

  Our editorial board thought that it would be good to look at some key metrics that create a snapshot of the regional economy as we move through the year.
  We want to add a few each month, so that we end up with a pretty comprehensive picture of what’s happening in the region by year’s end.
  In this issue we starting with the basics, population, square miles, median household income and unemployment rate.
  As you can see below, the unemployment rate in November (latest available data) is generally up about 4% across South Jersey from a year ago. And, with the exception of Burlington County, the unemployment rate in South Jersey is ahead of the state numbers.
  And, although only one South Jersey county (Burlington) tops the state average median household income of $70,347, all SJ counties except Cumberland beat the national median HHI average. So, we’re pretty much holding up our end in keeping New Jersey one of the “wealthiest” states in the nation.
  We’re thinking of adding an index of publicly traded stocks, casino revenues, median home prices, number of businesses, RiverLINE and PATCO ridership, foreclosures, county budgets, banks on the federal regulators’ watch list (there are three right now), crime rates, and more. So, if you have suggestions on what we should be tracking, drop us a note at jenny@snjbp.com.
  As you look at the statistics, remember that they will represent the most recent data available (to us), so if you have something that is more up-to-date or more accurate, please let us know.
  Here’s a look at where the region stands as we start the year. Stay tuned as we watch what happens during the months ahead.
County:               Population:           Sq. Miles:        Median HHI:             Unemployment (%):
                                                                                                                    (11/09)    (11/08)
Atlantic                  270,861                  561                $52,409                      13.0         8.2
Burlington              445,475                 805                $76,869                        8.8          5.6
Camden                517,234                  222                $60,746                      10.5         6.8
Cape May               95,836                  255                $54,423                      14.6        10.2
Cumberland          156,830                  489                $49,720                      13.3          9.1
Gloucester            287,860                  325                $70,273                      10.0          6.0
Ocean                   569,111                  636                $59,199                       10.0         6.8
Salem                     66,641                  338                $57,935                       10.1         7.2

NJ:                     8,628,661               7,417                $70,347                        9.7          6.3

US:                 304,059,724        3,537,438               $50,740                       10.0         6.8

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