New Jersey's Economy

 

In Picture #1, we can see that the state of New Jersey is pretty equal across the entire land when it comes to household incomes. In this map of a one year estimate in 2022, I marked the data as Household Incomes less than $60,000. Most of the counties seem to be the same color. The upper part of New Jersey by Sussex, Morris, Warren, Somerset, and Hunterdon county tends to range around 18 - 28% of households with less than $60,000. Meanwhile in the lower part of New Jersey, there is a slight difference in the color. Around the counties of Cumberland, Atlantic, Salem, Ocean, Cape May, and Camden tend to range from 35 - 49% of households with less than $60,000. The counties in lower New Jersey tend to have more of an income issue, than the counties in upper New Jersey.

In Picture #2, we can see that the state of New Jersey varies when it comes to households making more than $150,000 per year. In this map of a one year estimate in 2022, the upper part of New Jersey tends to have higher percentages that range around 38 - 48% of households who make more than $150,00 per year. The counties of Morris, Hunterdon, Somerset, Bergen, and Union, are the ones higher in percentage, but also some of these counties seem to be more populated then some of the counties in lower New Jersey. In the lower part of New Jersey, there are still some densely populated counties, but they tend to have lower percentages ranging in about 13 - 24% of households making more than $150,000 per year. It just seems to be a decline in percent as your travel from upper New Jersey down to lower New Jersey. 

In this 2014 5-year estimate map, it shows that the wealthier people of New Jersey tend to group around the upper counties. New Jersey is a very economically diverse state as there are counties with an average yearly income of $50,603, and there are counties with an average yearly income of $106,519. From upper New Jersey to lower New Jersey, the average yearly income decreases as we get to the lower area of the state. Most residents who live under the poverty line would be located in the lower half of New Jersey. 

How does this effect this upcoming Presidential Election?

From an election standpoint, New Jersey is usually a democratic voting state. Since 1992, New Jersey has voted for the democratic presidential candidate, and since 1996 over 50% of New Jersey residents have voted for democrats. New Jersey residents are possibly going to consider looking for which candidate cares more about the economy in this upcoming 2024 presidential election. The Democratic campaign mentioned how they are planning to not raise tax rates, except for wealthier Americans. The Republican campaign mentioned how they want to extend an individual's income, and estate tax cuts. 

Works Cited:

Luhby, T. and Lobosco, K. (2024) Here’s what Harris and Trump are proposing for the economy, CNN. Available at: https://www.cnn.com/2024/10/27/politics/economy-harris-trump-proposals-taxes/index.html