Northern Regional

Community Fact Book

Hudson County Edition

New Jersey Department of Labor

and Workforce Development

Division of Labor Market and

Demographic Research

June 2006
 Preface

T he Regional Community Fact Book for Hudson County provides a

snapshot of its people and its economy. Included are facts and fig-
ures on current industry trends, population, unemployment and income. The
Fact Book also provides a look into the future and provides the latest popu-
lation, labor force, industry and occupational projections.

The Regional Community Fact Book series is meant to be a reference

for use in local and regional economic development planning and for employ-
ment and training providers. Fact Books will be published annually for New
Jersey’s 21 counties, grouped into three regions (northern, central and
southern).

Acknowledgements

T his publication was prepared by Walter Nyakanga and Patricia

McKendrick of the Bureau of Labor Market Information, Division
of Labor Market and Demographic Research. Layout was done by Chester S.
Chinsky.

Questions regarding information contained in this publication should be

directed to Walter Nyakanga by phone at (973) 648-3188 or by e-mail:
walter.nyakanga@dol.state.nj.us.

To obtain copies of this publication or other county editions, please

contact Lester Wright by phone at (609) 292-7567 or by e-mail:
lester.wright @dol.state.nj.us.
 Table of Contents

County Snapshot .................................................................................... 1

Industry Trends, Hudson vs. New Jersey ..................................... 2

Employment ............................................................................................ 5

Employment Gains and Losses ........................................................... 6

Wages ...................................................................................................... 7

Per Capita Personal Income ............................................................... 8

Unemployment Rates ........................................................................... 8

Characteristics of the Unemployed ................................................. 9

Population ...............................................................................................10

Population Projections ......................................................................... 11

Industry Projections ...........................................................................12

Projected Occupational Demand.......................................................13

Labor Force Projections .....................................................................14

 County Snapshot
Northern Region
Population (July 1, 2005 estimate): 603,500
Change from Census 2000: -5,450 or -0.9%
Percent of New Jersey Total: 6.9%
Sussex Passaic

Bergen
Total Private Sector
Warren Morris Employment (2004): 192,607
Essex Percent of New Jersey Total: 5.9%
Change from 1999: -2,663
Hudson
Union
Hunterdon Largest Industry (2004): Finance and Insurance
Finance and Insurance Employment: 28,817
Percent of Total County Employment: 15.0%

Private Sector Wage (2004 annual average): $53,607

Percent of New Jersey Average: 112.5%
Change From 1999: +$10,633

Industry With Highest Average Annual

Wage (2004): Finance and Insurance: $121,242

Per Capita Personal Income (2004): $32,947

Percent of New Jersey Per Capita Income: 79.2%

Number of Unemployment Insurance Claimants (2005 annual average)

average): 6,326

Unemployment Rate (2005 annual average): 5.4%

5-year High (2002): 7.7%
5-year Low (2005): 5.4%
New Jersey Rate (2005): 4.4%

Building Permits (single-family residential,2005): 361

Rank Among New Jersey Counties: 19

Hudson County Community Fact Book 1

 Industry Trends, Hudson vs. New Jersey
∑ During the 1999 to 2004 period, Hudson County’s total private sector employment
fluctuated, reaching its peak in 2000, and then trending down through 2004 (-1.4%).
Comparatively, the state’s private sector employment was more stable and posted an
increase of 0.7 percent.

∑ Financial activities employment in Hudson County continued its upward momentum and
outperformed the state (+23.5% vs. +6.1%) from 1999 to 2004. Office space expansion
along the Hudson River waterfront contributed to the sector’s strong growth, although
the upsurge in 2001 was due to the temporary infusion of jobs resulting from the
World Trade Center’s destruction.

∑ Professional and business services added jobs from 1999-2004, despite drops in 2002
and 2004. This sector, in addition to education and health services, outperformed the
state over the 1999-2004 period. These sectors, which cover a wide range of services,
continued to grow even during the recessionary period because of the strong demand
and a favorable environment that attracted more firms to relocate to the Hudson
waterfront.
∑ Manufacturing payrolls declined almost twice as fast as in the state through the five-
year period. Closures and restructuring contributed to the decreases.

Note: Use of an index facilitates comparison between two separate data elements.

Hudson County and New Jersey Hudson County and New Jersey
Total Private Sector Employment: 1999-2004 Construction Employment: 1999-2004
106 120

104 115

102 110

100 105

98 100

(1999=100) (1999=100)
96 95
1999 2000 2001 2002 2003 2004 1999 2000 2001 2002 2003 2004

Hudson New Jersey Hudson New Jersey

2 New Jersey Department of Labor and Workforce Development

 Industry Trends, Hudson vs. New Jersey

Hudson County and New Jersey Hudson County and New Jersey
Manufacturing Employment: 1999-2004 Trade, Transportation & Utilities Employment: 1999-2004
110 110

100 105

90 100

80 95

70 90
(1999=100) (1999=100)

60 85
1999 2000 2001 2002 2003 2004 1999 2000 2001 2002 2003 2004

Hudson New Jersey Hudson New Jersey

Hudson County and New Jersey Hudson County and New Jersey
Information Employment: 1999-2004 Financial Activities Employment: 1999-2004
130 140

120
130

110
120
100
110
90

100
80
(1999=100)
(1999=100)
70 90
1999 2000 2001 2002 2003 2004 1999 2000 2001 2002 2003 2004

Hudson New Jersey Hudson New Jersey

Hudson County Community Fact Book 3

 Industry Trends, Hudson vs. New Jersey
Hudson County and New Jersey Hudson County and New Jersey
Professional & Business Services Employment: 1999-2004 Education & Health Services Employment: 1999-2004
120 125

115 120

110 115

105 110

100 105

95 100
(1999=100) (1999=100)
90 95
1999 2000 2001 2002 2003 2004 1999 2000 2001 2002 2003 2004

Hudson New Jersey Hudson New Jersey

Hudson County and New Jersey Hudson County and New Jersey
Leisure & Hospitality Employment: 1999-2004 Other Services Employment: 1999-2004
120 120

115
115

110
110
105
105
100

100
95
(1999=100) (1999=100)
95 90
1999 2000 2001 2002 2003 2004 1999 2000 2001 2002 2003 2004

Hudson New Jersey Hudson New Jersey

4 New Jersey Department of Labor and Workforce Development

 Employment
Hudson County
Total Private Sector Employment: 1999 — 2004
220,000

210,000

B B
200,000 B
B B
B
190,000

180,000
1999 2000 2001 2002 2003 2004

∑ Total private sector employment in Hudson County reached its peak of 203,200 in
2000 and then declined each year to total 192,600 in 2004. Most of the loss oc-
curred between 2002 and 2004.

Hudson County
Total Employment by Industry: 1999 & 2004
Construction

Manufacturing

Trade/Transp./Utilities

Information

Financial Activities

Prof./Business Services

Educ./Health Services

Leisure/Hospitality

Other Services

0 20,000 40,000 60,000 80,000

2004 1999

∑ In 2004, the trade, transportation and utilities sector had the most jobs (60,500)
in the county, despite declining 12.1 percent over the five-year period, while finan-
cial activities was the fastest growing sector at 23.2 percent.

Hudson County Community Fact Book 5

 Employment Gains and Losses
Hudson County, Private Sector
Net Job Growth by Industry: 1999 — 2004
8,000

6,000

4,000

2,000

-2,000

-4,000

-6,000

-8,000

-10,000
Construction Manufact- Trade/ Information Financial Prof./ Education/ Leisure/ Other
uring Transport./ Activities Business Health Hospitality Services
Utilities Services Services

∑ Employment in manufacturing sector decreased at the fastest rate (-37.7%) from

1999 to 2004 followed by information (-12.5%), and trade, transportation and utili-
ties (-12.1%). The county’s fastest growing sector was financial activities, which
increased 23.5 percent over the five-year period.

Hudson County, Private Sector

Gains, Losses and Net Growth by Industry: 2003
4,500

4,000

3,500

3,000

2,500

2,000

1,500

1,000

500

-500

-1,000
Construction Manufact- Trade/ Information Financial Prof./ Education/ Leisure/ Other
uring Transport./ Activities Business Health Hospitality Services
Utilities Services Services

GAINS LOSSES NET

Source: Local Employment Dynamics (LED) data from the US Census Bureau.
∑ Despite a net job loss in trade, transportation and utilities, the sector still gener-
ated the highest number of job openings (4,000) in 2003 (latest available), followed
by professional and business services (2,300). However, education and health ser-
vices had the highest net growth (800).
∑ Financial activities recorded the largest net loss (-850) in 2003. Some of this loss can
be attributed to several companies, which had temporarily relocated from lower Man-
hattan after the terrorist attack in 2001, moving back to New York City.

6 New Jersey Department of Labor and Workforce Development

 Wages
Hudson County, Private Sector
Average Annual Wage: 1999 — 2004
$60,000

$55,000 $53,607

$49,658 $50,285
$50,000 $48,010 $47,857

$45,000 $42,974

$40,000

$35,000

$30,000
1999 2000 2001 2002 2003 2004

∑ Over the 1999-2004 period, Hudson County’s annual average private sector wage rose
by $10,633 or 24.7 percent. The county’s increase was faster than the statewide
increase of 16.7 percent. The largest single-year wage increase (11.7%) occurred in
2000.

Hudson County and New Jersey, Private Sector

Average Annual Wage by Industry: 2004
Total Private Sector

Construction

Manufacturing

Trade/Transp./Utilities

Information

Financial Activities

Prof./Business Services

Education/Health Services

Leisure/Hospitality

Other Services

$0 $20,000 $40,000 $60,000 $80,000 $100,000

Hudson County New Jersey

∑ Approximately three-quarters of all jobs in Hudson County are in industries paying

relatively high wages and compared favorably to the state wages. In 2004, the county’s
annual average wage in the financial activities sector was 27.0 percent higher than
that of the state. This higher wage was due to Hudson’s high concentration of banks,
financial brokerage and insurance firms.

Hudson County Community Fact Book 7

 Per Capita Personal Income
∑ Hudson County’s per capita personal in- Hudson County and New Jersey
come was consistently lower than the Per Capita Personal Income: 1999 — 2004
$45,000
state’s from 1999 to 2004. However, the
rate of growth in the county was faster $40,000

(+22.8%) than the state’s (+18.2%). $35,000

$
∑ The county’s per capita personal income $30,000
$ $ $ $
ranked 17th among New Jersey’s 21 coun- $25,000
$
ties.
$20,000

∑ Of the three components of personal in-

1999 2000 2001 2002 2003 2004

come, residents of Hudson in 2004 derived New Jersey $ Hudson

72.0 percent from wage earnings versus

72.5 percent statewide, 11.3 percent from dividends/interest/rent versus 15.2 percent
statewide, and 16.7 percent from transfer payments (such as welfare benefits, social
security and veteran’s benefits) versus 12.3 percent statewide.

Unemployment Rates

Hudson County and New Jersey ∑ From 1999 to 2005, Hudson County’s un-
Unemployment Rate Trends: 1999 — 2005 employment rate has followed the same
9.0
pattern as the state’s rate, but at a higher
level. A contributing factor to the county’s
8.0
J J
7.0
J historically higher unemployment rate is
the ongoing loss of factory jobs, which has
B B J
J
6.0
resulted in a mismatch of worker skills with
J
5.0
B J B available jobs.
B B
4.0
B
3.0
∑ During this period, the county’s labor force
1999 2000 2001 2002 2003 2004 2005 grew by 3,800 or 1.3 percent, compared
B New Jersey J Hudson with the state’s 3.4 percent.

8 New Jersey Department of Labor and Workforce Development

 Characteristics of the Unemployed
Hudson County
Unemployment Insurance Claimants: 2004-2005
2004 2005
Annual Annual Change 2004-2005
Category Average Average Number Percent
Total Insured Unemployed 7,053 6,326 -727 -10.3
By Gender
Male 3,759 3,426 -333 -8.9
Female 3,294 2,900 -394 -12.0
By Race
White 2,851 2,558 -293 -10.3
Black 1,374 1,268 -106 -7.7
Asian 385 323 -62 -16.1
Other 2,443 2,176 -267 -10.9
By Ethnicity
Hispanic 3,351 3,021 -330 -9.8
Not Hispanic 3,226 2,841 -385 -11.9
Chose Not To Answer 476 464 -12 -2.5
By Age of Claimant
Under 25 602 700 98 16.3
25 through 34 1,926 1,672 -254 -13.2
35 through 44 1,816 1,622 -194 -10.7
45 through 54 1,474 1,310 -164 -11.1
55 through 64 885 757 -128 -14.5
65 and over 351 265 -86 -24.5
By Industry
Construction 476 423 -53 -11.1
Manufacturing 807 647 -160 -19.8
Trade, Transportation and Utilities 1,942 1,627 -315 -16.2
Wholesale Trade 489 479 -10 -2.0
Retail Trade 773 636 -137 -17.7
Information 203 114 -89 -43.8
Financial Activities 423 332 -91 -21.5
Professional and Business Services 1,230 1,172 -58 -4.7
Educational and Health Services 676 598 -78 -11.5
Leisure and Hospitality 358 350 -8 -2.2
Other Services 151 129 -22 -14.6

∑ As employer confidence in the economy grew in 2005, more jobs were created and, as
a result, the number of Hudson County unemployment insurance claims dropped by 727
or 10.3 percent from 2004. In 2005, the age group with the largest drop in the number
of unemployment claimants was the 25-34 year old segment, while the 65 and over age
group had the highest percentage drop (-24.5%).

∑ Most of the county’s unemployment claimants were employed in the trade, transporta-
tion and utilities, and professional and business services sectors. However, the infor-
mation sector had the biggest percentage decline in claimants followed by financial
activities.

Hudson County Community Fact Book 9

 Population
∑ Hudson County’s population declined by 4,318 Hudson County
(1.0%) over the 1970-2005 period, reach- Total Population: 1970 — 2005
650,000
ing a total of 603,521. Population fell from
1970 through 1990, then turned around and 625,000

reached its peaked of 608,975 in 2000,

600,000
before trending downward again through
2005. Statewide, population increased 21.6 575,000

percent over the 1970-2005 period.

∑ Offsetting some of the loss was interna-
550,000

525,000
tional immigration. From 2000 to 2004, al-
most 17.0 percent of the state’s interna- 500,000
1970 1980 1990 2000 2005
tional immigration settled in Hudson County,
more than any other county.

Hudson County ∑ Hudson County’s Asian and multi-racial

Racial/Hispanic Origin: 2000 - 2004 population were the only groups to grow
Percent Percent (+0.8% and +0.2%, respectively) from 2000
Race in 2000 in 2004 to 2004 (latest data available by race),
White 72.3 71.4 while persons of Hispanic origin increased
Black 15.3 15.2 from 40.1 percent in 2000 to 41.2 percent
Asian 9.9 10.7 in 2004.
Multiracial 1.8 2.0
American Indian/Alaska Native 0.6 0.6
Native Hawaiian/Pacific Islander 0.1 0.1
Total* 100.0 100.0
Hispanic Origin (may be of any race) 40.1 41.2
* May not add to 100% due to rounding

∑ According to the 2004 population esti- Hudson County

mates (latest data available by municipal- Ten Largest Municipalities 2004
ity), Jersey City is the largest in Hudson Rank Municipality Population
County and ranks second statewide with a 1 Jersey City 239,079
population of 239,079 residents. 2 Union City 66,167
3 Bayonne City 60,748

∑ Despite an overall population decrease in 4

5
North Bergen Township
West New York Town
58,004
46,231
Hudson, Hoboken was the only municipal- 6 Hoboken City 40,175
ity to register a significant population in- 7 Kearny Town 39,496
crease from 2000 to 2004. 8 Secaucus Town 15,663
9 Harrison Town 14,164
10 Weehawken Township 13,195

10 New Jersey Department of Labor and Workforce Development

 Population Projections
∑ Hudson County’s population is projected to Hudson County
increase by 25,164 from 2002 to 2012. Its Population Projections: 2002 — 2012
675,000
rate of growth (4.1%) is expected to be
650,000
about one-half of the state’s (8.1%) pro-
625,000
jected growth.
600,000

575,000

550,000

525,000

500,000

475,000
2002* 2007** 2012**
*estimate **projection

Hudson County
∑ The county’s largest age group, the 25-to-
Projections for Select Age Groups: 2002 — 2012 44-year-old population is projected to de-
250,000 cline by 20,314 or 9.4 percent during the
200,000
2002-2012 period, while the 45-64 age
group will grow the fastest (+20.5%), re-
150,000
sulting in a higher percentage of older
100,000 people in the county.
50,000

0
0-14 15-24 25-44 45-64 65+

2002* 2012**
*estimate **projection

∑ The population projections indicate that Hudson County

Hudson County’s racial mix is increasingly Projected Population Growth
by Race, 2002 - 2012
becoming more diverse. The population of 30
both “other races” and multi-racial groups 25
are projected to grow the fastest (+21.0%
20
and +5.9%, respectively) from 2002 to
Percent

15
2012.
10

-5
White Black Other Races Multi-Racial

Hudson County Community Fact Book 11

 Industry Projections
Hudson County, 2002 - 2012
Ten Industries with the Greatest Employment Growth
Change: 2002-2012
2002 2012 Percent
Industry Title Jobs Jobs Number Total Annual
Administrative and support services 16,750 21,650 4,950 29.5 2.6
Securities, commodity contracts, investments 22,700 27,000 4,250 18.8 1.7
Ambulatory health care services 7,650 10,650 3,000 39.2 3.3
Professional and technical services 11,050 13,400 2,350 21.3 1.9
Local Government educational services 14,800 16,650 1,850 12.6 1.2
Social assistance 3,600 5,350 1,750 48.2 3.9
Food services and drinking places 9,400 10,850 1,450 15.5 1.4
Specialty trade contractors 4,250 5,400 1,150 27.8 2.4
Educational Services 5,450 6,550 1,100 20.4 1.8
Furniture and Home Furnishings Stores 2,550 3,500 950 37.1 3.1

∑ By 2012, Hudson County is projected to add 26,750 jobs. Total nonfarm employment is
expected to increase 10.5 percent, slightly lower than the state’s projected increase
of 12.0 percent.

∑ The ten service-producing industries depicted in the table above will account for nearly
85 percent of the county’s new jobs during the 2002 to 2012 period.

Hudson County, 2002 - 2012

Ten Industries with the Greatest Employment Declines
Change: 2002-2012
2002 2012 Percent
Industry Title Jobs Jobs Number Total Annual
Apparel manufacturing 4,050 2,500 -1,550 -37.7 -4.9
Postal service 6,850 5,650 -1,200 -17.8 -2.0
Local Government, excl. hospitals & schools 13,450 13,050 -450 -3.3 -0.3
Food manufacturing 2,050 1,750 -300 -14.6 -1.6
Paper manufacturing 800 650 -200 -22.3 -2.6
Merchant wholesalers, durable goods 5,900 5,650 -200 -3.7 -0.4
Telecommunications 2,050 1,850 -200 -9.7 -1.0
Printing and related support activities 2,350 2,200 -150 -5.8 -0.6
Plastics and rubber products manufacturing 1,000 800 -150 -16.8 -1.9
Chemical manufacturing 1,550 1,450 -100 -7.4 -0.8

∑ More than seven of every ten jobs projected to be lost from 2002-2012 are expected
to come from goods-producing industries, especially the manufacturing sector.

∑ The industries projected to decline have a relatively small employment base in Hudson
County.

12 New Jersey Department of Labor and Workforce Development

 Projected Occupational Demand
Hudson County
Occupations With The Most Projected Job Openings, 2002-2012
2004
Annual Average Job Openings Annual Skill
1 2
Occupation Total Growth Replacements Wage Level Outlook
Retail Salespersons 340 90 250 $22,500 Low Good
Laborers and Freight, Stock and
Material Movers, Hand 320 0 320 21,130 Low Good
Cashiers 310 70 240 16,610 Low Good
Food Preparation and Serving
Workers, Including Fast Food 240 80 160 22,340 Low Good
Office Clerks, General 210 50 160 26,690 Low Good
Janitors and Cleaners Except
Maids and Housekeeping Cleaners 210 90 120 22,980 Low Good
Stock Clerks and Order Fillers 190 0 190 21,960 Low Good
Packers and Packagers, Hand 190 80 110 16,260 Low Good
Customer Service Representatives 190 120 70 30,260 Low Good
Securities, Commodities and
Financial Services Sales Agents 170 110 50 71,120 High Good
Registered Nurses 140 60 80 61,790 High Good
Truck Drivers, Heavy and
Tractor-Trailer 130 50 90 39,350 Low Good
General and Operations Managers 130 60 70 127,410 High Average
Child Care Workers 130 70 60 16,410 Low Good
Waiters and Waitresses 120 30 90 18,540 Low Good
Tellers 110 20 90 22,480 Low Good
Processors
and Processing Machine Operators 110 0 110 23,500 Low Good
Supervisors/Managers of Office and
Administrative Support Workers 110 20 90 49,090 Moderate Good
Teacher Assistants 110 60 50 19,950 Low Good
Secondary School Teachers, Except
Special and Vocational Education 110 40 70 60,690 High Average
1. "Growth" and "Replacements" may not add to "Total" due to rounding.

2. High Skills: Associate's degree or higher.

Moderate Skills: Long-term on-the-job training, work experience or post secondary/vocational/technical training.
Low Skills: Short-term or moderate-term on-the-job training, including up to 12 months of on-the-job experience and informal training.

∑ Hudson County is projected to have 9,440 annual job openings per year through 2012,
or 6.2 percent of statewide annual openings. The county’s top-twenty ranking occupa-
tions by annual job openings are anticipated to account for 37.8 percent of all annual
job openings in the county.

∑ About one of every three job openings annually in Hudson County is projected to have
high educational and training requirements. However, many of the top-ranking occu-
pations by annual openings have a lower skills level and a good outlook, indicative of a
large number of entry-level positions and the need for replacement workers.

Hudson County Community Fact Book 13

 Labor Force Projections
∑ Whites will remain as the largest group Hudson County
contributing to the civilian labor force by Projected Labor Force Growth
2012 in Hudson County. However, “other by Race, 2002 - 2012
races” will make up the majority of the
growth in the county’s labor force, account- White
ing for 51.9 percent of the projected 19.2%
growth. Other Races
Black
51.9%
18.6%
Note: Multi-racial refers to persons who are
of two or more races. “Other races” includes 10.3%
Asian, American Indian/Alaska Native, and
Native Hawaiian/Pacific Islander. Multi-Racial

Hudson Non-Hispanic
County
∑ All of the projected growth in the county’s
labor force is expected to consist of per-
Projected Labor Force Growth by
Hispanic Origin, 2002 - 2012
sons of Hispanic Origin.

100.0%
Hispanic

∑ About 53.8 percent of the increase in Hudson County

Hudson County’s labor force is projected Projected Labor Force Growth by
to be male by 2012. Gender, 2002 - 2012

Female
53.8% 46.2%
Male

14 New Jersey Department of Labor and Workforce Development