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Northern & Central New Jersey : Industrial - Q1 2017

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Northern & Central New Jersey : Industrial - Q1 2017

Consumer confidence has remained high and national retail sales continued to rise steadily over the last four quarters. E-commerce sales represented 8.3% of all retail sales at yearend 2016, up 70 basis points (BPS) over the previous year. Locally, New Jersey’s unemployment rate fell to a 10-year low in February at 4.4%, down 60 BPS year-over-year. Private sector employment grew by more than 77,000 jobs this past year, partially propelled by the local industrial expansion cycle. Over the last 12 months, the trade, transportation, and utilities sector added 17,600 jobs while manufacturing employment grew by 3,700.

Source : Cushman & Wakefield

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