Atlantic County Industry Trends, Atlantic vs. New Jersey
Source: www.nj.gov/labor
Data current as of February 2009. Click here to download a copy of the Southern Regional Community Atlantic County Fact Book.
Atlantic County’s private-sector employment grew faster than the state’s from 2002 to 2007 (3.6% vs. 2.3%). After declining in 2002 due to the lingering affects of the 2001 national recession, county payrolls grew through 2006. The county’s payrolls declined in 2007 largely due to layoffs in the hotel casino industry.
Atlantic County posted its largest employment gain in the education and health services sector (2,100), which expanded faster than statewide (14.3% vs. 12.1%) from 2002 to 2007. Like the state, most of the county’s jobs were created in the health services segment. Atlantic County’s trade, transportation & utilities sector also added (1,842) jobs during this period far outpacing the state’s advance (9.2% vs. 0.5%). Most of the county’s new jobs were concentrated in retail trade.
The county’s professional and business services sector posted the third largest employment increase (1,700 or 18.5%) from 2002 to 2007 and experienced a gain much greater than the state (5.4%). Businesses outsourcing non-core functions and utilizing temporary help services were factors driving job creation.
Atlantic County’s leisure and hospitality sector recorded the largest employment decline from 2002 to 2007 (-2,313, or -4.1 %) led by losses at hotel casinos. Although the 2003 opening of the Borgata hotel casino and the development of other new gaming and hospitality attractions occurred during this period, payrolls were negatively impacted by: new competitive pressures; mergers and other management restructurings; technological advances (e.g. coinless slots); the closing of the Sands hotel casino in November 2006 which idled 2,100 workers; and more recently, a slowing economy.
Data provided by Southern Regional Community Atlantic County Fact Book. The Pleasantville Uraban Enterprise Zone does not guarantee the accuracy or timeliness of any information. Use at your own discretion.
