The education system in the Garden State is cultivating great minds. But high costs can choke off company profits.
Economic Profile
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WATCH HEREGovernor: Phil Murphy, Democrat
Population: 8,882,371
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GDP growth (Q1 2021): 5.6%
Unemployment rate (May 2021): 7.2%
Top corporate tax rate: 9%
Money Report
Top individual income tax rate: 10.75%
Gasoline tax: 50.70 cents/gallon
Bond rating (Moody's/S&P): A3, stable/BBB+, stable
Major employers: Wakefern Food Corporation, Johnson & Johnson
Economic profile sources: U.S. Census Bureau, U.S. Bureau of Economic Analysis, U.S. Bureau of Labor Statistics, Federation of Tax Administrators, American Petroleum Institute (excluding 18.40 cent/gallon federal tax), Moody's Investor Service, S&P Global Market Intelligence
