- 4,461 more businesses
- 579,999 more employees
- 45.3% increase in total wages
- $9,707 in additional annual wages per employee
- 22.5% increase in wages per employee
Since 2009, the number of businesses in Georgia has grown by 1.7% (7.8% less than the national average of 9.5%). Employment in Georgia has grown by 18.6% (4.2% greater than the national average of 14.4%). Wages have grown by 22.5% since the end of the Great Recession. This wage growth is 0.1% less than the national average of 22.5%.
The average weekly wage in Georgia of $1,017 is 4.4% below the national average of $1,064. The gap has not significantly changed since the end of the recession.
The Professional services sector has the most businesses in the state of Georgia . Since the end of the recession, the number of businesses has grown from 34,005 to 36,179, a gain of 6.4%. The table below illustrates the change in number of businesses in each sector:
|Accommodation and food services||20,084||18,460||8.8%|
|Finance and insurance||14,573||15,546||-6.3%|
|Real estate and rental||11,406||11,718||-2.7%|
|Transport and warehousing||7,021||6,900||1.8%|
|Arts and entertainment||3,454||2,926||18.0%|
|Agriculture and forestry||2,377||2,367||0.4%|
|Mining and oil extraction||217||227||-4.4%|
There has been some considerable shifting of businesses in Georgia since the end of the recession. 8 of the 19 sectors have lost businesses since 2009. The biggest declines are in Wholesale trade (-12.1%), Construction (-19.1%), Retail trade (-4.6%) and Other services (-6.7%). Healthcare and the Accommodation and food services sectors had robust growth with the number of businesses growing by 20.8% and 8.8% respectively.
The Retail trade sector employs the most workers in the state of Georgia . The number of jobs has increased 13.3% since the end of the recession from 437,424 to 495,593. The table below illustrates the change in employment in each sector:
|Accommodation and food services||425,148||338,031||25.8%|
|Transport and warehousing||195,445||153,375||27.4%|
|Finance and insurance||168,120||150,845||11.5%|
|Real estate and rental||65,875||57,530||14.5%|
|Arts and entertainment||50,888||40,603||25.3%|
|Agriculture and forestry||24,148||23,784||1.5%|
|Mining and oil extraction||5,151||5,002||3.0%|
There was good employment growth across all sectors with the exception of the Utilities sector which lost 4.2% of its jobs. The sectors with the largest growth are; Waste services (+35.4%), Transport and warehouse (+27.4%) and Accommodation and food services (+25.8%).
The sector with the highest wages is the Company management sector at $2,177. Prior to the recession, the sector’s average weekly wage was $1,578. This is an increase of $599 per week or 38.0%. The table below illustrates the change in average weekly wages in each sector:
|Finance and insurance||$1,740||$1,302||33.6%|
|Mining and oil extraction||$1,336||$1,003||33.2%|
|Transport and warehousing||$1,151||$879||30.9%|
|Real estate and rental||$1,107||$844||31.2%|
|Arts and entertainment||$694||$593||17.0%|
|Agriculture and forestry||$673||$516||30.4%|
|Accommodation and food services||$351||$304||15.5%|
Wage growth kept pace with the national average of 22.5% with several sectors experiencing growth well above this average. In addition to Company management (mentioned above) the Information sector (+34%), Finance and insurance (+33.6%) and Mining and oil extraction (+33.2%) all had growth well above the state and national averages.
Each of the sectors in the previous section are made up of a number of detailed industries. The top industry that has experienced the most growth (as a percent) since the recession is Computer systems design and related services which has grown 15.7%. The top industry that has contracted the most is Wholesale trade agents and brokers which has contracted by 18.8% in the years since the recession. The table below illustrates the 10 largest industries and their change in the number of businesses since the recession:
|Wholesale trade agents and brokers||9,793||12,063||-18.8%|
|Computer systems design and related services||8,883||7,680||15.7%|
|Offices of physicians||7,126||6,721||6.0%|
|Management consulting services||6,442||5,650||14.0%|
|Offices of lawyers||5,761||5,436||6.0%|
|Gasoline stations with convenience stores||4,476||5,030||-11.0%|
|Accounting and bookkeeping services||4,460||4,445||0.3%|
|Insurance agencies and brokerages||4,428||4,420||0.2%|
|Offices of real estate agents and brokers||4,212||4,405||-4.4%|
|Residential building construction||4,123||5,031||-18.0%|
The industry that has experienced the most growth in number of employees (as a percent) since the recession is General warehousing and storage which has grown 74.5%. The industry that has added the lowest percentage of employees is Scheduled air transportation which has has grown by 4.4% in the years since the recession. The table below illustrates the 10 largest industries and their change in the number of employees since the recession:
|General medical and surgical hospitals||143,927||123,512||16.5%|
|Temporary help services||120,416||74,504||61.6%|
|Offices of physicians||88,435||69,675||26.9%|
|Supermarkets and other grocery stores||80,467||69,161||16.3%|
|Computer systems design and related services||68,205||47,961||42.2%|
|Management of companies and enterprises||68,194||52,786||29.2%|
|Wholesale trade agents and brokers||48,701||37,870||28.6%|
|Hotels and motels, except casino hotels||42,819||38,035||12.6%|
|Scheduled air transportation||39,198||37,537||4.4%|
|General warehousing and storage||38,681||22,163||74.5%|
Since the recession ended, the industry that has experienced the greatest increase in average weekly pay per employee (as a percent) is Other financial vehicles which has grown 307.0%. The average weekly wage in the Broadcast and wireless communications equip. industry has grown by 17.3% since the recession. This is the industry with the lowest wage growth among top industries in Georgia . The table below illustrates the 10 largest industries and their change in the average weekly wages since the recession:
|Other financial vehicles||$5,319||$1,307||307.0%|
|Investment banking and securities dealing||$5,088||$3,021||68.4%|
|All other financial investment activities||$3,728||$2,436||53.0%|
|Broadcast and wireless communications equip.||$2,814||$2,400||17.3%|
|Computer and software merchant wholesalers||$2,441||$2,013||21.3%|
Please note, during the comparison period the NAICS coding has had changes made to it. For proper comparisons we are only including industries that have NOT been affected by these changes.
The biggest 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 282 to 382, which is an increase of 35.5%.
The smallest percentage change in the number of businesses has been in businesses with fewer than 5 employees. The number of businesses with this number of employees has grown from 163,741 to 167,992, which is an increase of 2.6%.
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||167,992||163,741||2.6%|
|More Than 1,000 Employees||177||138||28.3%|
The biggest percentage change in the number of employees has been in businesses with 500 to 999 employees. The number of employees in companies this size has grown from 187,816 to 263,620, which is an increase of 40.4%.
The smallest percentage change in the number of employees has been in businesses with fewer than 5 employees. The number of employees with this number of employees has grown from 223,014 to 241,677, which is an increase of 8.4%.
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||241,677||223,014||8.4%|
|More Than 1,000 Employees||385,072||289,625||33.0%|
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 $1,202 to $1,775, which is an increase of 47.7%.
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 $721 to $884, which is an increase of 22.6%.
Table: Change Average Weekly Wage by Size Since the Recession:
|Company Size||Q1 2018||Q1 2010||% Change|
|Fewer than 5 Employees||$1,098||$816||34.6%|
|More Than 1,000 Employees||$1,775||$1,202||47.7%|
This page was created and is maintained by Kurt Tietjen, Founder of Stavera, High Peak Media & HomeGearWorks.com. Kurt is an executive, data scientist and software engineer who holds an MBA in Management Information Systems. In 2010, he partnered with scientists at Northwestern University to launch The Street Wire. This was one of the first mainstream uses of what would become “Narrative Science”, an artificial intelligence platform specializing in natural language generation. You can contact Kurt on LinkedIn here.