United States Congress Joint Economic Committee

New Jersey

December 2022

Labor Market (BLS/Haver)
Most Recent Prior Month 12 Mo. Prior
New Jersey Unemployment (U-3) 3.5% 3.3% 5.5%
U.S. Official Rate (U-3) 4.8% 5.2% 7.8%
U.S. "Real" Rate (U-6) 7.3% 7.7% 11.7%
New Jersey Labor Force Participation Rate 63.3% 63.0% 62.8%
U.S. Labor Force Participation Rate 62.1% 62.2% 61.9%
Prices (BLS/Haver, AAA)
Most Recent Prior Month 12 Mo. Prior
CPI-U Inflation 6.8% 6.2% 1.2%
"Core" CPI Inflation 4.9% 4.6% 1.6%
National Gas/gal. Updated 12/4/22 12:00 AM $3.41 $3.79 $3.36
New Jersey Gas/gal. $3.60 $3.86 $3.43
Northeast Region: Loaf of Bread $1.71 $1.69 $1.44
Northeast Region: Ground Beef/lb. $3.85 $3.74 $4.16
Economic Growth (BEA, WSJ/Haver)
U.S. Real GDP
Q2/2022 (3rd Estimate)
-0.6%
NJ Real GDP
Q2/2022
-1.0%
S&P 500 (YTD)
-14.57% Updated 12/3/22 5:00 AM
Minimum Wage (DOL/WHD)
National Hourly Rate
$7.25
NJ Hourly Rate
$13.00
Last Generated: 12/4/22 5:15 AM