NJBIA released its 67th annual Business Outlook Survey on Dec. 2. While much of the attention of the survey focused on 2055 energy cost increases and tariff impacts, there were many other facets of the survey.
Today, we look at deeper at New Jersey’s staffing, employment and wages data found in the 2026 Business Outlook Survey.
Of those who were challenged to find staff, 74% said there were not enough candidates or applicants to fill open positions, while 59% said candidates lacked the required skills or qualifications.
Employment
New Jersey businesses continue to see a slight decrease in hiring levels.
In 2025, 17% increased hiring – down from 20% in 2024 and 23% in 2023. Another 19% decreased hiring.
Looking to 2026, 24% predicted they will increase employment, compared to 12% which predicted less hiring – a 12% net positive hiring outlook. Sixty-four percent said they’ll stay about the same.
Wages
Despite continued business challenges, New Jersey employers continue to attempt wage increases – although at a lower wage percentage than in previous years.
In 2025, only 17% of businesses increased pay for employees by 5% or more. That’s down 10 percentage points from last year and 17 percentage points from two years ago.
All totaled, 68% increased wages in 2025. But in 2024, 77% said they increased wages.
Looking ahead to 2026, 10% say they’ll increase wages by more than 5%. Comparatively, a year ago when respondents were looking ahead to 2025, 16% said they would raise wages more than 5%.
Another 34% said they’ll raise wages between 3% and 4.9% in 2025. All totaled, 67% said they’ll increase wages in 2026, while 31% anticipate no change in wages.
