Connecticut Business & Employment Growth Since 2009
- 8,735 more businesses
- 58,505 more employees
- 3.6% increase in total wages
- $9,970 increase in annual wages per employee
- 17.3% increase in wages per employee
Since 2009, the number of businesses in Connecticut has grown by 7.8% (3.6% less than the national average of 11.4%). Employment in Connecticut has grown by 3.6% (10.0% less than the national average of 13.6%). Wages have grown by 17.3% since the end of the Great Recession. This wage growth is 8.4% less than the national average of 25.7%. The average weekly wage in Connecticut of $1,303 is 15.5% above the national average of $1,101. The gap between the national average has widened from 21.2% a widening of 5.6% since the end of the recession.
Sector Growth
Business Sector Growth
| Sector | 2018 | 2009 | Pct Chg |
|---|---|---|---|
| Other services | 17,483 | 13,675 | 27.8% |
| Professional services | 14,078 | 12,789 | 10.1% |
| Retail trade | 12,585 | 12,974 | -3.0% |
| Healthcare | 11,144 | 9,765 | 14.1% |
| Wholesale trade | 10,077 | 9,837 | 2.4% |
| Construction | 9,364 | 10,592 | -11.6% |
| Accommodation and food services | 8,770 | 7,578 | 15.7% |
| Waste services | 7,869 | 6,786 | 16.0% |
| Finance and insurance | 7,220 | 7,231 | -0.2% |
| Manufacturing | 4,406 | 5,030 | -12.4% |
| Real estate and rental | 3,647 | 3,665 | -0.5% |
| Information | 2,301 | 1,831 | 25.7% |
| Transport and warehousing | 2,071 | 1,933 | 7.1% |
| Educational services | 1,938 | 1,494 | 29.7% |
| Arts and entertainment | 1,894 | 1,686 | 12.3% |
| Company management | 1,282 | 748 | 71.4% |
| Agriculture and forestry | 388 | 372 | 4.3% |
| Utilities | 150 | 164 | -8.5% |
| Mining and oil extraction | 54 | 57 | -5.3% |
The sector that has had the strongest growth [in number of businesses] is the Other services sector, which has increased by 27.8% since 2009. The sector that has has the largest decline is the Construction sector, which has declined by 11.6% since the recession.
Employment Sector Growth
| Sector | 2018 | 2009 | Pct Chg |
|---|---|---|---|
| Healthcare | 268,553 | 243,211 | 10.4% |
| Retail trade | 180,705 | 178,511 | 1.2% |
| Manufacturing | 160,487 | 171,226 | -6.3% |
| Accommodation and food services | 129,258 | 110,098 | 17.4% |
| Finance and insurance | 103,643 | 118,362 | -12.4% |
| Professional services | 96,315 | 87,147 | 10.5% |
| Waste services | 91,150 | 75,693 | 20.4% |
| Other services | 66,822 | 56,817 | 17.6% |
| Wholesale trade | 61,549 | 64,984 | -5.3% |
| Construction | 58,714 | 54,525 | 7.7% |
| Educational services | 58,273 | 51,885 | 12.3% |
| Transport and warehousing | 48,674 | 39,189 | 24.2% |
| Company management | 33,616 | 27,612 | 21.7% |
| Information | 31,731 | 34,960 | -9.2% |
| Arts and entertainment | 28,568 | 23,545 | 21.3% |
| Real estate and rental | 19,983 | 19,195 | 4.1% |
| Utilities | 5,172 | 6,643 | -22.1% |
| Agriculture and forestry | 4,745 | 4,630 | 2.5% |
| Mining and oil extraction | 524 | 628 | -16.6% |
The sector that has had the strongest employment growth [in number of employees] is the Healthcare sector, which has increased by 10.4% since 2009. The sector that has has the largest employment decline in number of employees is the Finance and insurance sector, which has declined by 12.4% since the recession.
Weekly Wage Growth By Sector
| Sector | 2018 | 2009 | Pct Chg |
|---|---|---|---|
| Finance and insurance | $3,305 | $2,515 | 0.0% |
| Company management | $2,912 | $2,611 | 0.0% |
| Utilities | $2,525 | $2,051 | 0.0% |
| Information | $2,127 | $1,370 | 0.0% |
| Professional services | $2,027 | $1,643 | 0.0% |
| Wholesale trade | $1,833 | $1,523 | 0.0% |
| Manufacturing | $1,588 | $1,351 | 0.0% |
| Mining and oil extraction | $1,451 | $1,245 | 0.0% |
| Real estate and rental | $1,352 | $996 | 0.0% |
| Construction | $1,341 | $1,111 | 0.0% |
| Educational services | $1,283 | $1,018 | 0.0% |
| Healthcare | $1,018 | $899 | 0.0% |
| Transport and warehousing | $920 | $863 | 0.0% |
| Waste services | $885 | $737 | 0.0% |
| Agriculture and forestry | $695 | $554 | 0.0% |
| Retail trade | $665 | $587 | 0.0% |
| Other services | $647 | $580 | 0.0% |
| Arts and entertainment | $567 | $509 | 0.0% |
| Accommodation and food services | $431 | $347 | 0.0% |
The sector that has had the strongest wage growth is the Unclassified sector, which has increased by 0.0% since 2009. The sector that has has the smallest wage growth is the Transport and warehousing sector, which has declined by 0.0% since the recession.
Industry Growth
Business Industry Growth
| Industry | 2018 | 2009 | Pct Chg |
|---|---|---|---|
| Private households | 8,931 | 5,818 | 0.0% |
| Wholesale trade agents and brokers | 4,457 | 5,612 | 0.0% |
| Computer systems design and related services | 3,677 | 2,838 | 0.0% |
| Offices of physicians | 2,716 | 2,630 | 0.0% |
| Landscaping services | 2,294 | 2,080 | 0.0% |
| Offices of lawyers | 2,265 | 2,488 | 0.0% |
The top industry that has had the largest increase in the number of businesses is the Private households industry, which has increased by 0.0% 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 0.0% since the recession.
Employment Industry Growth
| Industry | 2018 | 2009 | Pct Chg |
|---|---|---|---|
| General medical and surgical hospitals | 55,019 | 57,753 | 0.0% |
| Supermarkets and other grocery stores | 35,906 | 34,843 | 0.0% |
| Offices of physicians | 34,968 | 30,881 | 0.0% |
| Nursing care facilities skilled nursing | 33,871 | 38,532 | 0.0% |
| Management of companies and enterprises | 33,616 | 27,612 | 0.0% |
| Colleges and universities | 30,659 | 26,594 | 0.0% |
The top industry that has had the largest increase in the number of employees is the Management of companies and enterprises industry, which has increased by 0.0% since 2009. The top industry that has has the largest decline in the number of employees is the Nursing care facilities skilled nursing industry, which has declined by 0.0% since the recession.
Weekly Wage Growth By Industry
| Industry | 2018 | 2009 | Pct Chg |
|---|---|---|---|
| Commodity contracts brokerage | $7,514 | $10,900 | 0.0% |
| Portfolio management | $6,980 | $5,882 | 0.0% |
| Commodity contracts dealing | $6,134 | $4,555 | 0.0% |
| Investment banking and securities dealing | $5,727 | $6,192 | 0.0% |
| Sales financing | $5,600 | $4,239 | 0.0% |
| Miscellaneous intermediation | $5,479 | $4,818 | 0.0% |
| Securities brokerage | $4,472 | $3,751 | 0.0% |
The top industry that has had the strongest wage growth is the Commodity contracts dealing industry, which has increased by 0.0% since 2009. The top industry that has has the largest wage decline is the Commodity contracts brokerage industry, which has declined by 0.0% since the recession.
Company Size
Business Growth By Company Size
The biggest percentage change in the number of businesses has been in businesses with 20 to 49 employees. The number of businesses with this number of employees has grown from 7,443 to 8,435, which is an increase of 13.3%.The smallest 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 69 to 65, which is an increase of -5.8%.
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 | 72,858 | 67,067 | 8.6% |
| 5-9 Employees | 18,162 | 17,072 | 6.4% |
| 10-19 Employees | 12,389 | 11,144 | 11.2% |
| 20-49 Employees | 8,435 | 7,443 | 13.3% |
| 50-99 Employees | 2,696 | 2,465 | 9.4% |
| 100-249 Employees | 1,694 | 1,540 | 10.0% |
| 250-499 Employees | 296 | 311 | -4.8% |
| 500-999 Employees | 100 | 93 | 7.5% |
| More Than 1,000 Employees | 65 | 69 | -5.8% |
Employment Growth by Company Size
The biggest percentage change in the number of employees has been in businesses with fewer than 5 employees. The number of employees in companies this size has grown from 98,231 to 112,206, which is an increase of 14.2%.The smallest percentage change in the number of employees has been in businesses with 1,000 or more employees. The number of employees with this number of employees has grown from 165,398 to 159,957, which is an increase of -3.3%.
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 | 112,206 | 98,231 | 14.2% |
| 5-9 Employees | 120,463 | 112,388 | 7.2% |
| 10-19 Employees | 166,581 | 148,987 | 11.8% |
| 20-49 Employees | 252,835 | 223,237 | 13.3% |
| 50-99 Employees | 184,602 | 168,764 | 9.4% |
| 100-249 Employees | 253,877 | 231,167 | 9.8% |
| 250-499 Employees | 100,779 | 104,138 | -3.2% |
| 500-999 Employees | 66,842 | 60,107 | 11.2% |
| More Than 1,000 Employees | 159,957 | 165,398 | -3.3% |
Weekly Wage Growth by Company Size
The biggest percentage change in the average weekly wage has been in businesses with 500 to 999 employees. The average weekly wage in companies this size has grown from $1,905 to $2,845, which is an increase of 49.3%.The smallest percentage change in the average weekly wage has been in businesses with 250 to 499 employees. The average weekly wage in companies this size has grown from $1,609 to $1,537, which is an increase of -4.5%.
Table: Change Average Weekly Wage by Size Since the Recession:
| Company Size | Q1 2018 | Q1 2010 | % Change |
|---|---|---|---|
| Fewer than 5 Employees | $1,234 | $1,023 | 20.6% |
| 5-9 Employees | $1,059 | $880 | 20.3% |
| 10-19 Employees | $1,079 | $940 | 14.8% |
| 20-49 Employees | $1,182 | $1,028 | 15.0% |
| 50-99 Employees | $1,467 | $1,259 | 16.5% |
| 100-249 Employees | $1,434 | $1,131 | 26.8% |
| 250-499 Employees | $1,537 | $1,609 | -4.5% |
| 500-999 Employees | $2,845 | $1,905 | 49.3% |
| More Than 1,000 Employees | $2,362 | $1,918 | 23.1% |
Data Sources
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