Arkansas Business & Employment Growth Since 2009
- 4,788 more businesses
- 76,534 more employees
- 6.7% increase in total wages
- $8,253 increase in annual wages per employee
- 23.1% increase in wages per employee
Since 2009, the number of businesses in Arkansas has grown by 5.6% (5.9% less than the national average of 11.4%). Employment in Arkansas has grown by 6.7% (6.9% less than the national average of 13.6%). Wages have grown by 23.2% since the end of the Great Recession. This wage growth is 2.5% less than the national average of 25.7%. The average weekly wage in Arkansas of $845 is 30.3% below the national average of $1,101. The gap between the national average has widened from 27.7% a widening of 2.6% since the end of the recession.
Sector Growth
Business Sector Growth
| Sector | 2018 | 2009 | Pct Chg |
|---|---|---|---|
| Healthcare | 14,919 | 13,502 | 10.5% |
| Retail trade | 11,036 | 11,155 | -1.1% |
| Professional services | 9,035 | 7,485 | 20.7% |
| Wholesale trade | 7,244 | 6,203 | 16.8% |
| Construction | 6,958 | 7,425 | -6.3% |
| Accommodation and food services | 6,192 | 5,351 | 15.7% |
| Other services | 5,353 | 5,347 | 0.1% |
| Finance and insurance | 4,979 | 4,791 | 3.9% |
| Waste services | 4,729 | 4,157 | 13.8% |
| Real estate and rental | 3,439 | 3,446 | -0.2% |
| Transport and warehousing | 2,955 | 2,941 | 0.5% |
| Manufacturing | 2,921 | 3,436 | -15.0% |
| Agriculture and forestry | 2,098 | 1,935 | 8.4% |
| Information | 1,211 | 1,140 | 6.2% |
| Arts and entertainment | 987 | 920 | 7.3% |
| Educational services | 877 | 646 | 35.8% |
| Company management | 560 | 553 | 1.3% |
| Mining and oil extraction | 431 | 548 | -21.4% |
| Utilities | 430 | 368 | 16.8% |
The sector that has had the strongest growth [in number of businesses] is the Professional services sector, which has increased by 20.7% since 2009. The sector that has has the largest decline is the Manufacturing sector, which has declined by 15.0% since the recession.
Employment Sector Growth
| Sector | 2018 | 2009 | Pct Chg |
|---|---|---|---|
| Healthcare | 174,259 | 149,022 | 16.9% |
| Manufacturing | 160,596 | 164,105 | -2.1% |
| Retail trade | 139,102 | 129,645 | 7.3% |
| Accommodation and food services | 106,988 | 89,997 | 18.9% |
| Waste services | 67,887 | 48,884 | 38.9% |
| Transport and warehousing | 54,275 | 48,806 | 11.2% |
| Construction | 50,838 | 51,820 | -1.9% |
| Wholesale trade | 47,374 | 47,016 | 0.8% |
| Professional services | 43,999 | 37,652 | 16.9% |
| Finance and insurance | 37,004 | 35,373 | 4.6% |
| Company management | 34,785 | 26,480 | 31.4% |
| Other services | 24,956 | 24,729 | 0.9% |
| Real estate and rental | 13,629 | 13,801 | -1.2% |
| Agriculture and forestry | 12,519 | 12,609 | -0.7% |
| Educational services | 11,873 | 10,330 | 14.9% |
| Arts and entertainment | 11,427 | 9,753 | 17.2% |
| Information | 10,910 | 16,262 | -32.9% |
| Utilities | 7,795 | 6,755 | 15.4% |
| Mining and oil extraction | 3,819 | 8,185 | -53.3% |
The sector that has had the strongest employment growth [in number of employees] is the Healthcare sector, which has increased by 16.9% since 2009. The sector that has has the largest employment decline in number of employees is the Information sector, which has declined by 32.9% since the recession.
Weekly Wage Growth By Sector
| Sector | 2018 | 2009 | Pct Chg |
|---|---|---|---|
| Company management | $2,212 | $1,530 | 44.6% |
| Utilities | $1,701 | $1,349 | 26.1% |
| Wholesale trade | $1,315 | $1,025 | 28.3% |
| Mining and oil extraction | $1,268 | $1,141 | 11.1% |
| Finance and insurance | $1,253 | $951 | 31.8% |
| Professional services | $1,217 | $970 | 25.5% |
| Information | $1,035 | $1,287 | -19.6% |
| Manufacturing | $923 | $718 | 28.6% |
| Construction | $923 | $762 | 21.1% |
| Transport and warehousing | $907 | $722 | 25.6% |
| Healthcare | $824 | $680 | 21.2% |
| Agriculture and forestry | $808 | $578 | 39.8% |
| Real estate and rental | $750 | $568 | 32.0% |
| Educational services | $711 | $584 | 21.7% |
| Other services | $670 | $497 | 34.8% |
| Waste services | $584 | $457 | 27.8% |
| Retail trade | $527 | $434 | 21.4% |
| Arts and entertainment | $406 | $334 | 21.6% |
| Accommodation and food services | $308 | $241 | 27.8% |
The sector that has had the strongest wage growth is the Company management sector, which has increased by 44.6% since 2009. The sector that has has the smallest wage growth is the Information sector, which has declined by 19.6% since the recession.
Industry Growth
Business Industry Growth
| Industry | 2018 | 2009 | Pct Chg |
|---|---|---|---|
| Services for the elderly and disabled | 6,773 | 6,208 | 9.1% |
| Offices of physicians | 2,321 | 2,233 | 3.9% |
| Wholesale trade agents and brokers | 2,282 | 2,582 | -11.6% |
| Computer systems design and related services | 1,836 | 1,007 | 82.3% |
| Insurance agencies and brokerages | 1,754 | 1,522 | 15.2% |
| Offices of lawyers | 1,513 | 1,504 | 0.6% |
The top industry that has had the largest increase in the number of businesses is the Computer systems design and related services industry, which has increased by 82.3% since 2009. The top industry that has has the largest decline in the number of businesses is the Wholesale trade agents and brokers industry, which has declined by 11.6% since the recession.
Employment Industry Growth
| Industry | 2018 | 2009 | Pct Chg |
|---|---|---|---|
| General medical and surgical hospitals | 38,997 | 38,826 | 0.4% |
| Management of companies and enterprises | 34,785 | 26,480 | 31.4% |
| Animal slaughtering and processing | 32,905 | 31,293 | 5.2% |
| Temporary help services | 27,029 | 15,727 | 71.9% |
| Offices of physicians | 25,324 | 21,528 | 17.6% |
The top industry that has had the largest increase in the number of employees is the Temporary help services industry, which has increased by 71.9% since 2009. The top industry that has has the largest decline in the number of employees is the General medical and surgical hospitals industry, which has declined by 0.4% since the recession.
Weekly Wage Growth By Industry
| Industry | 2018 | 2009 | Pct Chg |
|---|---|---|---|
| Securities brokerage | $3,067 | $1,451 | 111.4% |
| Investment banking and securities dealing | $3,019 | $2,713 | 11.3% |
| Portfolio management | $2,770 | $1,562 | 77.3% |
| Plastics materials merchant wholesalers | $2,445 | $889 | 175.0% |
| Commodity contracts dealing | $2,390 | $1,520 | 57.2% |
| Electric power generation | $2,375 | $1,949 | 21.9% |
| Fish and seafood merchant wholesalers | $2,311 | $763 | 202.9% |
The top industry that has had the strongest wage growth is the Securities brokerage industry, which has increased by 111.4% since 2009. The top industry that has has the largest wage decline is the Investment banking and securities dealing industry, which has declined by 11.3% since the recession.
Company Size
Business Growth By Company Size
The biggest percentage change in the number of businesses has been in businesses with 1,000 or more employees. The number of businesses with this number of employees has grown from 43 to 58, which is an increase of 34.9%.The smallest percentage change in the number of businesses has been in businesses with 500 to 999 employees. The number of businesses with this number of employees has grown from 91 to 82, which is an increase of -9.9%.
Table: Change in the number of Businesses by Size of Business, since the Recession:
| Company Size | Q1 2018 | Q1 2010 | % Change |
|---|---|---|---|
| Fewer than 5 Employees | 53,690 | 49,868 | 7.7% |
| 5-9 Employees | 14,025 | 13,560 | 3.4% |
| 10-19 Employees | 9,197 | 8,642 | 6.4% |
| 20-49 Employees | 6,308 | 5,521 | 14.3% |
| 50-99 Employees | 1,930 | 1,619 | 19.2% |
| 100-249 Employees | 973 | 899 | 8.2% |
| 250-499 Employees | 269 | 263 | 2.3% |
| 500-999 Employees | 82 | 91 | -9.9% |
| More Than 1,000 Employees | 58 | 43 | 34.9% |
Employment Growth by Company Size
The biggest percentage change in the number of employees has been in businesses with 1,000 or more employees. The number of employees in companies this size has grown from 82,307 to 104,636, which is an increase of 27.1%.The smallest percentage change in the number of employees has been in businesses with 500 to 999 employees. The number of employees with this number of employees has grown from 62,075 to 56,247, which is an increase of -9.4%.
Table: Change in the number of Employees by Size of Business, since the Recession:
| Company Size | Q1 2018 | Q1 2010 | % Change |
|---|---|---|---|
| Fewer than 5 Employees | 73,726 | 71,953 | 2.5% |
| 5-9 Employees | 91,760 | 88,123 | 4.1% |
| 10-19 Employees | 123,154 | 114,734 | 7.3% |
| 20-49 Employees | 185,908 | 161,607 | 15.0% |
| 50-99 Employees | 130,612 | 109,480 | 19.3% |
| 100-249 Employees | 145,063 | 128,551 | 12.8% |
| 250-499 Employees | 90,368 | 88,598 | 2.0% |
| 500-999 Employees | 56,247 | 62,075 | -9.4% |
| More Than 1,000 Employees | 104,636 | 82,307 | 27.1% |
Weekly Wage Growth by Company Size
The biggest percentage change in the average weekly wage has been in businesses with 1,000 or more employees. The average weekly wage in companies this size has grown from $1,039 to $1,545, which is an increase of 48.7%.The smallest percentage change in the average weekly wage has been in businesses with 20 to 49 employees. The average weekly wage in companies this size has grown from $590 to $719, which is an increase of 21.9%.
Table: Change Average Weekly Wage by Size Since the Recession:
| Company Size | Q1 2018 | Q1 2010 | % Change |
|---|---|---|---|
| Fewer than 5 Employees | $861 | $627 | 37.3% |
| 5-9 Employees | $724 | $568 | 27.5% |
| 10-19 Employees | $731 | $588 | 24.3% |
| 20-49 Employees | $719 | $590 | 21.9% |
| 50-99 Employees | $777 | $617 | 25.9% |
| 100-249 Employees | $861 | $666 | 29.3% |
| 250-499 Employees | $947 | $720 | 31.5% |
| 500-999 Employees | $1,082 | $794 | 36.3% |
| More Than 1,000 Employees | $1,545 | $1,039 | 48.7% |
Data Sources
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