Jobs in Newark, New Jersey, United States
After New York Comes New Jersey: Jobs in Newark
Newark is New Jersey’s most populous city, with a population of around 277,000 persons in 2010, making it the US’s 67th most populated municipality. In 2015, it is estimated that its population reached more than 281,000!
Being a rail and air hub, Newark has become popular among many visitors. While others go through the city to get from point to point, some tourists come by to visit the Newark Symphony Hall, the New Jersey Performing Arts Center, the Branch Brook Park (with the US’s biggest collection of cherry blossom trees!), the Newark Museum, and the Prudential Center.
Those who are looking for jobs in the vicinity of New York also keep Newark in mind because of its national and international links and the presence of good companies in the city.
Leading Companies and Jobs in the City
There are many leading companies with headquarters in Newark. This includes PSEG, Prudential, Panasonic Corporation of North America, Blue Shield of New Jersey, IDT Corporation, Audible.com, Public Service Enterprise Group, NJ Transit, Horizon Blue Cross, and Manischewitz. Moreover, Panasonic just moved its headquarters for North America to this city. Since it is home to a main courthouse for county, state, and federal facilities, Newark also has over 1,000 law firms.
In addition, there are more than 100,000 persons who commute to Newark every day, making it New Jersey’s biggest employment center. Here, there are many white-collar jobs in government, healthcare, import-export, finance, and insurance.
Living Conditions in Newark
Job seekers have to consider the current unemployment rate of Newark of 7.9%, which is higher than the US national average of 5%, indicating it may be more difficult to find a job in this city. Newark’s recent job growth was also only at 1.3%, compared to the US national average rate of 1.59%.
Parts of Newark are a part of what is called the Urban Enterprise Zone. Besides encouraging employment inside this zone, consumers can enjoy a 3.5% sales tax rate for eligible merchants. Outside of the zone and for ineligible merchants, the sales tax is typically 7%, higher than the national average of 6%. The sales tax makes up for the relatively higher income tax in New Jersey of 5.53%, especially compared to the US average of 4.6%. This means, that although an employee in Newark has less of their salary to spend and/or save, they can make up for it with the relatively lower sales tax.
With these, are you considering Newark as your next job destination?
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