Finance and Insurance in New Jersey

Finance and Insurance (NAICS 52) in New Jersey reports 216,373 workers across 11,075 establishments, with $31.3B of aggregate annual payroll flowing through Census CBP 2023 filings. That represents 3.1% of national employment for this industry — a concentration ratio that tells you whether New Jersey is a primary labor market for this NAICS code or a smaller satellite. A share above 5% signals a meaningful regional cluster; below 1% usually means the state is not a structural fit for this industry at scale.

Wage benchmarking is where state-level data earns its keep. The average annual compensation for Finance and Insurance employees in New Jersey is $144,443/yr, versus a national average of $125,425/yr. New Jersey pays above the national average for this industry, which usually reflects higher skill concentration, union density, or regional cost of living.

Profitability data is only available at the national level because the IRS Statistics of Income program does not publish state-level margin breakdowns. The national net profit margin for Finance and Insurance is 20.1%, and while margins do vary by state, the direction of variance usually follows labor cost and establishment size — both shown above. For a complete picture, pair this state-industry view with the Finance and Insurance national page (entity structure, SBA lending, sub-industries) and the New Jersey overview (top employers, payroll dispersion across industries).