Ocean County vs. New Jersey
Comparative Trends Analysis:
Average Earnings Per Job Growth and Change, 1969-2022
Introduction
Ocean County vs. New Jersey
Ocean County:
2022 Avg. Earnings = $52,274
2022 Percent of State = 67.00%
New Jersey:
2022 Avg. Earnings = $78,024
The United States economy has generated an impressive number of jobs since the 1970s. The contrast between the nation's vigorous employment growth and the modest performance of other major industrial countries is striking. Despite this rosy track record, the real (inflation adjusted) wages and salaries of many workers have stagnated or slipped in recent years. This development has provoked concerns about the quality of new jobs. Structural shifts in the composition of employment--from high-wage goods-producing to low-wage services-related sectors--is the culprit most often cited for the deteriorating quality of jobs.
Regions vary greatly in the make-up of their labor force, in their industry composition of employment, and their economic experience. Reviewing and examining recent developments in average earnings per job in Ocean County with comparisons to New Jersey and the nation is an important first step in understanding the economic forces at play in Ocean County.
Discussion: Average Annual Earnings Per Job are computed by dividing BEA total industry earnings estimates by the BEA total full- and part-time jobs estimates. No convenient or adequate means exist at the county or regional level for converting the job estimates to a full-time equivalent measure. So, interpret the average earnings per job estimates with caution in consideration of the following issues:
Average earnings per job within industries involving more part-time work is lower than industries involving more full-time work, although there could be little difference in the underlying wage of full-time workers. Such differences could also prevail between counties and regions. An increase in the proportion of part-time jobs over time may erode average earnings per job estimates, although full-time earnings per worker may have remained unchanged.
As with per capita income, average earnings per job may be subject to extreme short-run variation, especially in smaller counties. Major construction projects relating to building dams, nuclear power plants, and private plant construction projects have caused extreme fluctuations in many smaller counties. Such changes typify both small and large agriculture-dependent counties owing to the extreme annual variations in farm incomes. Also, Since average earnings per job are just a simple average, it does not account for variations in the distribution of earnings among high- vs. low-wage jobs.
Ocean County Average Earnings Per Job, 1970-2022
Current vs. Constant Dollars
Ocean County Average Earnings Per Job, 1970-2022
Current vs. Constant Dollars
Figure 1.
Figure 1 depicts Ocean County's annual average earnings per job over 1970-2022 in current and constant (2017) dollars. Constant dollar measurements remove the effects of inflation. They allow for comparison of changes in the real purchasing power of Ocean County over time.
When measured in current dollars, Ocean County's average earnings per job increased 688.29%, from $6,631 in 1970 to $52,274 in 2022. When measured in constant 2017 dollars to adjust for inflation, it advanced 34.27%, from $33,549 in 1970 to $45,047 in 2022.
Real Average Earnings Per Job, 1969-2022
Real Average Earnings Per Job, 1969-2022
Figure 2.
Figure 2 traces Ocean County's and New Jersey's annual real average earnings per job for the period 1969-2022 to illustrate real average earnings per job patterns over time. During this 54-year period, Ocean County's real average earnings per job rose from $33,467 in 1969 to $45,047 in 2022, for a net gain of $11,580, or 34.60%. In comparison, New Jersey's real average earnings per job advanced from $41,817 in 1969 to $67,237 in 2022, for a net gain of $25,420, or 60.79%.
Real Average Earnings Per Job Indices (1969=100): 1969-2022
Real Average Earnings Per Job Indices (1969=100): 1969-2022
Figure 3.
Figure 3 shows Ocean County's real average earnings per job growth in a broader context by offering direct comparisons across time with New Jersey, the United States. The growth indices shown here express each region's real average earnings per job in 1969 as a base figure of 100, and the real average earnings per jobs in later years as a percentage of the 1969 base figure. This method allows for more direct comparison of differences in real average earnings per job growth between regions that may differ vastly in size.
Ocean County's overall real average earnings per job growth was 34.60% over 1969-2022 trailed New Jersey's increase of 60.79%, and fell below the United States' increase of 62.26%.
Average Earnings Per Job as a Percent of the U.S. Average: 1969-2022
Average Earnings Per Job as a Percent of the U.S. Average: 1969-2022
Figure 4.
Figure 4 portrays the trends for average earnings per job relative to the national average by tracing Ocean County and New Jersey average earnings per job as a percent of the national average over 1969-2022.
In 1969, Ocean County's average earnings per job amounted to 88.03% of the national average; in 2022, it approximated 73.02%. Similarly, in 1969, New Jersey's average earnings per job totaled 109.99% of the national average; in 2022, it consisted of 108.99%.
Ocean County Real Average Earnings Per Job:
Annual Percent Change, 1970-2022
Ocean County Real Average Earnings Per Job:
Annual Percent Change, 1970-2022
Figure 5.
Figure 5 shows the short-run pattern of Ocean County's real average earnings per job growth by tracking the year-to-year percent change over 1970-2022. The average annual percent change for the entire 53-year period is also illustrated on this chart to provide a benchmark for gauging periods of relative high--and relative low--growth against the backdrop of the long-term average.
On average, Ocean County's real average earnings per job grew at an annual rate of 0.61% over 1970-2022. The county recorded its highest growth in 2001 (8.40%) and posted its lowest growth in 2022 (-8.53%). In 2022, Ocean County's real average earnings per job declined by -8.53%
Ocean County Real Average Earnings Per Job:
Annual Percent Change and Decade Averages Over 1970-2022
Ocean County Real Average Earnings Per Job:
Annual Percent Change and Decade Averages Over 1970-2022
Figure 6.
Over the past five decades some counties have experienced extreme swings in growth, and often such swings have tended to coincide with the decades themselves. Figure 6 again depicts the annual percent change in Ocean County's real average earnings per job since 1970, but this time they are overlayed with average growth rates for the decade of the 1970s, 1980s, 1990s, 2000s, 2010s, and 2020-2022.
During the 1970s, Ocean County's annual real average earnings per job growth rate averaged 0.56%. It averaged 1.22% during the 1980s, 1.44% throughout the 1990s, 0.14% throughout the 2000s, 0.62% during the 2010s, -2.56% thus far this decade (2020-2022).
Real Average Earnings Per Job Growth:
Average Annual Percent Change by Decade
Real Average Earnings Per Job Growth:
Average Annual Percent Change by Decade
Figure 7.
Figure 7 compares the decade average growth rates for Ocean County noted in the previous graph with the corresponding decade averages for New Jersey and the nation. As the chart reveals, Ocean County's average annual real average earnings per job growth lagged New Jersey's average during the 1970s (0.56% vs. 0.82%), fell below New Jersey's average throughout the 1980s (1.22% vs. 1.61%), trailed New Jersey's average during the 1990s (1.44% vs. 2.02%), posted below New Jersey's average in the 2000s (0.14% vs. 0.45%), outperformed New Jersey's average throughout the 2010s (0.62% vs. 0.46%), and fell below New Jersey's average over the 3 year period of the current decade, 2020-2022 (-2.56% vs. -1.65%).
Finally, relative to nationwide real average earnings per job growth trends, Ocean County posted below the nation over the 1970s (0.56% vs. 0.89%), outpaced the nation in the 1980s (1.22% vs. 0.71%), trailed the nation during the 1990s (1.44% vs. 1.68%), fell below the nation throughout the 2000s (0.14% vs. 0.72%), recorded underneath the nation in the 2010s (0.62% vs. 1.01%), and fell below the nation over 2020-2022 (-2.56% vs. -0.24%).
   
 
Real* Average Earnings Per Job Growth:
Average Annual Percent Change
 
 
 
0.61
0.56
1.22
1.44
0.14
0.62
-2.56
-8.53
 
0.92
0.82
1.61
2.02
0.45
0.46
-1.65
-6.22
 
0.93
0.89
0.71
1.68
0.72
1.01
-0.24
-4.51
 
   

Interactive TableTip: To augment your analysis click on the column headers in the following table to rank and/or sort the data.

   
 
Ocean County:
Average Earnings Per Job, 1969-2022
 
1969
 
6,320
0.189
33,467
100.0
N
80.03
88.03
1970
 
6,631
0.198
33,549
100.2
0.25
79.38
87.30
1971
 
7,101
0.206
34,462
103.0
2.72
79.39
87.63
1972
 
7,682
0.213
36,054
107.7
4.62
80.34
88.40
1973
 
8,066
0.225
35,921
107.3
-0.37
79.08
86.39
1974
 
8,602
0.248
34,694
103.7
-3.41
78.84
86.64
1975
 
9,344
0.269
34,790
104.0
0.27
78.99
87.23
1976
 
10,206
0.283
36,023
107.6
3.55
80.12
88.38
1977
 
10,659
0.302
35,323
105.5
-1.94
77.83
85.88
1978
 
11,458
0.323
35,500
106.1
0.50
77.74
85.14
1979
 
12,408
0.351
35,307
105.5
-0.54
77.89
85.17
1980
 
12,983
0.389
33,351
99.7
-5.54
75.54
82.92
1981
 
13,784
0.424
32,497
97.1
-2.56
73.86
80.76
1982
 
14,485
0.448
32,353
96.7
-0.44
72.86
80.52
1983
 
15,407
0.467
33,008
98.6
2.02
72.94
81.43
1984
 
16,875
0.484
34,837
104.1
5.54
75.06
83.62
1985
 
18,047
0.501
36,002
107.6
3.35
76.09
85.41
1986
 
19,130
0.512
37,350
111.6
3.74
76.31
86.65
1987
 
20,929
0.528
39,636
118.4
6.12
77.96
90.50
1988
 
22,209
0.549
40,480
121.0
2.13
76.37
90.99
1989
 
22,686
0.573
39,618
118.4
-2.13
74.62
89.11
1990
 
23,282
0.598
38,950
116.4
-1.69
72.64
87.53
1991
 
24,312
0.618
39,357
117.6
1.04
72.62
88.29
1992
 
25,669
0.634
40,475
120.9
2.84
71.64
87.38
1993
 
26,901
0.650
41,387
123.7
2.25
72.65
89.37
1994
 
27,349
0.664
41,216
123.2
-0.41
71.45
88.48
1995
 
28,175
0.678
41,584
124.3
0.89
71.31
89.15
1996
 
28,974
0.692
41,869
125.1
0.68
70.70
88.31
1997
 
30,212
0.704
42,911
128.2
2.49
70.60
88.29
1998
 
31,335
0.710
44,155
131.9
2.90
69.89
87.02
1999
 
32,864
0.720
45,644
136.4
3.37
70.41
87.05
2000
 
34,112
0.738
46,209
138.1
1.24
69.18
85.49
2001
 
37,720
0.753
50,091
149.7
8.40
74.43
90.94
2002
 
39,265
0.763
51,468
153.8
2.75
75.34
92.59
2003
 
39,906
0.779
51,231
153.1
-0.46
74.87
91.41
2004
 
39,753
0.798
49,799
148.8
-2.80
72.76
87.45
2005
 
40,027
0.821
48,738
145.6
-2.13
72.06
85.81
2006
 
40,889
0.844
48,424
144.7
-0.64
71.28
84.41
2007
 
40,478
0.866
46,737
139.7
-3.48
69.11
81.97
2008
 
40,345
0.892
45,245
135.2
-3.19
67.67
80.21
2009
 
40,913
0.889
46,010
137.5
1.69
67.90
81.76
2010
 
41,960
0.905
46,357
138.5
0.75
67.84
80.40
2011
 
42,734
0.928
46,047
137.6
-0.67
68.51
79.68
2012
 
44,157
0.945
46,711
139.6
1.44
69.00
80.20
2013
 
45,125
0.958
47,112
140.8
0.86
69.51
80.82
2014
 
45,518
0.971
46,867
140.0
-0.52
68.91
79.87
2015
 
46,692
0.973
47,988
143.4
2.39
69.43
80.50
2016
 
47,195
0.983
48,019
143.5
0.06
69.92
80.70
2017
 
47,832
1.000
47,832
142.9
-0.39
69.22
79.28
2018
 
47,985
1.020
47,023
140.5
-1.69
67.91
77.27
2019
 
50,623
1.035
48,905
146.1
4.00
69.00
78.58
2020
 
53,310
1.046
50,949
152.2
4.18
69.13
79.12
2021
 
53,683
1.090
49,250
147.2
-3.33
68.69
76.23
2022
 
52,274
1.160
45,047
134.6
-8.53
67.00
73.02
Source: Calculations by the New Jersey Regional Economic Analysis Project (NJ-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis
November 2023
REAP_PI_CA1400_1400_PSN
 
   

Interactive TableTip: To augment your analysis click on the column headers in the following table to rank and/or sort the data.

   
 
New Jersey:
Average Earnings Per Job, 1969-2022
 
1969
 
7,896
0.189
41,817
100.0
N
109.99
1970
 
8,354
0.198
42,264
101.1
1.07
109.98
1971
 
8,945
0.206
43,410
103.8
2.71
110.38
1972
 
9,562
0.213
44,876
107.3
3.38
110.03
1973
 
10,200
0.225
45,423
108.6
1.22
109.25
1974
 
10,910
0.248
44,004
105.2
-3.12
109.89
1975
 
11,830
0.269
44,043
105.3
0.09
110.43
1976
 
12,739
0.283
44,962
107.5
2.09
110.30
1977
 
13,696
0.302
45,387
108.5
0.94
110.35
1978
 
14,738
0.323
45,664
109.2
0.61
109.52
1979
 
15,930
0.351
45,329
108.4
-0.73
109.35
1980
 
17,187
0.389
44,152
105.6
-2.60
109.78
1981
 
18,662
0.424
44,000
105.2
-0.34
109.35
1982
 
19,880
0.448
44,404
106.2
0.92
110.51
1983
 
21,122
0.467
45,253
108.2
1.91
111.64
1984
 
22,483
0.484
46,415
111.0
2.57
111.41
1985
 
23,719
0.501
47,317
113.2
1.94
112.25
1986
 
25,068
0.512
48,943
117.0
3.44
113.55
1987
 
26,845
0.528
50,841
121.6
3.88
116.08
1988
 
29,081
0.549
53,005
126.8
4.26
119.15
1989
 
30,403
0.573
53,096
127.0
0.17
119.42
1990
 
32,050
0.598
53,618
128.2
0.98
120.49
1991
 
33,478
0.618
54,194
129.6
1.08
121.58
1992
 
35,830
0.634
56,496
135.1
4.25
121.96
1993
 
37,030
0.650
56,969
136.2
0.84
123.02
1994
 
38,280
0.664
57,689
138.0
1.26
123.85
1995
 
39,509
0.678
58,313
139.4
1.08
125.01
1996
 
40,981
0.692
59,219
141.6
1.55
124.90
1997
 
42,791
0.704
60,776
145.3
2.63
125.05
1998
 
44,838
0.710
63,181
151.1
3.96
124.51
1999
 
46,675
0.720
64,825
155.0
2.60
123.64
2000
 
49,310
0.738
66,796
159.7
3.04
123.58
2001
 
50,681
0.753
67,304
160.9
0.76
122.19
2002
 
52,117
0.763
68,314
163.4
1.50
122.90
2003
 
53,303
0.779
68,431
163.6
0.17
122.10
2004
 
54,638
0.798
68,445
163.7
0.02
120.20
2005
 
55,550
0.821
67,639
161.7
-1.18
119.08
2006
 
57,365
0.844
67,935
162.5
0.44
118.42
2007
 
58,567
0.866
67,623
161.7
-0.46
118.60
2008
 
59,618
0.892
66,859
159.9
-1.13
118.53
2009
 
60,255
0.889
67,762
162.0
1.35
120.41
2010
 
61,853
0.905
68,336
163.4
0.85
118.51
2011
 
62,376
0.928
67,213
160.7
-1.64
116.30
2012
 
63,992
0.945
67,692
161.9
0.71
116.22
2013
 
64,915
0.958
67,775
162.1
0.12
116.26
2014
 
66,050
0.971
68,008
162.6
0.34
115.90
2015
 
67,252
0.973
69,118
165.3
1.63
115.94
2016
 
67,499
0.983
68,677
164.2
-0.64
115.42
2017
 
69,097
1.000
69,097
165.2
0.61
114.53
2018
 
70,658
1.020
69,241
165.6
0.21
113.78
2019
 
73,370
1.035
70,880
169.5
2.37
113.90
2020
 
77,119
1.046
73,703
176.3
3.98
114.46
2021
 
78,153
1.090
71,699
171.5
-2.72
110.98
2022
 
78,024
1.160
67,237
160.8
-6.22
108.99
Source: Calculations by the New Jersey Regional Economic Analysis Project (NJ-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis
November 2023
REAP_PI_CA1400_1400_PSN
 
   

Interactive TableTip: To augment your analysis click on the column headers in the following table to rank and/or sort the data.

   
 
United States:
Average Earnings Per Job, 1969-2022
 
1969
 
7,179
0.189
38,018
100.0
N
1970
 
7,596
0.198
38,430
101.1
1.08
1971
 
8,103
0.206
39,326
103.4
2.33
1972
 
8,691
0.213
40,786
107.3
3.71
1973
 
9,336
0.225
41,579
109.4
1.94
1974
 
9,928
0.248
40,044
105.3
-3.69
1975
 
10,713
0.269
39,883
104.9
-0.40
1976
 
11,549
0.283
40,761
107.2
2.20
1977
 
12,412
0.302
41,131
108.2
0.91
1978
 
13,457
0.323
41,694
109.7
1.37
1979
 
14,568
0.351
41,454
109.0
-0.58
1980
 
15,657
0.389
40,220
105.8
-2.98
1981
 
17,066
0.424
40,237
105.8
0.04
1982
 
17,989
0.448
40,181
105.7
-0.14
1983
 
18,920
0.467
40,535
106.6
0.88
1984
 
20,181
0.484
41,663
109.6
2.78
1985
 
21,130
0.501
42,152
110.9
1.17
1986
 
22,078
0.512
43,104
113.4
2.26
1987
 
23,126
0.528
43,799
115.2
1.61
1988
 
24,408
0.549
44,487
117.0
1.57
1989
 
25,460
0.573
44,462
117.0
-0.05
1990
 
26,599
0.598
44,498
117.0
0.08
1991
 
27,537
0.618
44,577
117.3
0.18
1992
 
29,378
0.634
46,323
121.8
3.92
1993
 
30,101
0.650
46,309
121.8
-0.03
1994
 
30,909
0.664
46,580
122.5
0.59
1995
 
31,605
0.678
46,646
122.7
0.14
1996
 
32,810
0.692
47,411
124.7
1.64
1997
 
34,218
0.704
48,600
127.8
2.51
1998
 
36,011
0.710
50,743
133.5
4.41
1999
 
37,751
0.720
52,432
137.9
3.33
2000
 
39,903
0.738
54,053
142.2
3.09
2001
 
41,477
0.753
55,080
144.9
1.90
2002
 
42,406
0.763
55,584
146.2
0.92
2003
 
43,655
0.779
56,045
147.4
0.83
2004
 
45,456
0.798
56,943
149.8
1.60
2005
 
46,648
0.821
56,800
149.4
-0.25
2006
 
48,442
0.844
57,368
150.9
1.00
2007
 
49,382
0.866
57,019
150.0
-0.61
2008
 
50,298
0.892
56,407
148.4
-1.07
2009
 
50,041
0.889
56,276
148.0
-0.23
2010
 
52,191
0.905
57,661
151.7
2.46
2011
 
53,633
0.928
57,792
152.0
0.23
2012
 
55,061
0.945
58,245
153.2
0.78
2013
 
55,837
0.958
58,296
153.3
0.09
2014
 
56,990
0.971
58,680
154.3
0.66
2015
 
58,005
0.973
59,615
156.8
1.59
2016
 
58,480
0.983
59,501
156.5
-0.19
2017
 
60,329
1.000
60,329
158.7
1.39
2018
 
62,102
1.020
60,856
160.1
0.87
2019
 
64,419
1.035
62,233
163.7
2.26
2020
 
67,378
1.046
64,393
169.4
3.47
2021
 
70,421
1.090
64,606
169.9
0.33
2022
 
71,586
1.160
61,690
162.3
-4.51
Source: Calculations by the New Jersey Regional Economic Analysis Project (NJ-REAP)
with data provided by the U.S. Department of Commerce, Bureau of Economic Analysis
November 2023
REAP_PI_CA1400_1400_PN
 
   
Copyright © 2023. Pacific Northwest Regional Economic Analysis Project (PNREAP). All Rights Reserved.

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