The Northeast Industrial labor report breaks down current trends in the industrial labor and real estate market. Although market conditions have eased recently, the industrial labor market in the Northeast is poised for continued growth in the demand and cost of this workforce.
As global supply chains rebalance, the strategic importance of the Port of New York and New Jersey and the region’s sizable consumer base continue to make it a vital hub for industrial activities. The region's labor market will continue to support industrial operators with both skilled and manual labor, which will be critical to the region’s success.
Northeastern markets continue to expand warehouse opportunities in and around their major metropolitan areas. To meet the demand from a wealthy consumer base, warehouse job opportunities are projected to increase by 0.2%, with wages nearing $25.00 per hour. Additionally, the median household income in these states exceeds $99,000, significantly higher than the national average.
The report highlights the key 11 metropolitan areas in close proximity to major industrial markets in the Northeast across Connecticut, Maryland, Massachusetts, New Hampshire, New Jersey, New York, Northern Virginia, and Pennsylvania. It looks at the interplay between the supply and demand for industrial labor in the warehouse and manufacturing sectors as well as the supply and demand for industrial space in the region.
