- 2,068 more businesses
- 62,157 more employees
- 37.1% increase in total wages
- $8,201 in additional annual wages per employee
- 21.1% increase in wages per employee
Since 2009, the number of businesses in Hawaii has grown by 5.6% (3.9% less than the national average of 9.5%). Employment in Hawaii has grown by 13.2% (1.2% less than the national average of 14.4%). Wages have grown by 21.1% since the end of the Great Recession. This wage growth is 1.4% less than the national average of 22.5%.
The average weekly wage in Hawaii of $905 is 14.9% below the national average of $1,064. The gap between the national average has widened from 13.9% a widening of 1.0% since the end of the recession.
The Professional services sector has the most businesses in the state of Hawaii . Since the end of the recession, the number of businesses has grown from 4,168 to 4,662, a gain of 11.9%. The table below illustrates the change in number of businesses in each sector:
|Accommodation and food services||3,993||3,582||11.5%|
|Real estate and rental||2,017||1,913||5.4%|
|Finance and insurance||1,639||1,707||-4.0%|
|Transport and warehousing||1,037||1,020||1.7%|
|Arts and entertainment||634||562||12.8%|
|Agriculture and forestry||477||451||5.8%|
|Mining and oil extraction||13||24||-45.8%|
As you can see from the table above, there are several industries that have fewer businesses since the recession including Retail trade, Wholesale trade and Finance and insurance but the sector that has had the highest reduction [as a percent] in businesses is Mining and oil extraction which has seen a reduction of over 45%.
The Accommodation and food services sector employs the most workers in the state of Hawaii . The number of jobs has increased 22.6% since the end of the recession from 90,122 to 110,479. The table below illustrates the change in employment in each sector:
|Accommodation and food services||110,479||90,122||22.6%|
|Transport and warehousing||28,959||23,538||23.0%|
|Finance and insurance||15,598||16,251||-4.0%|
|Arts and entertainment||12,636||10,686||18.2%|
|Real estate and rental||12,508||11,410||9.6%|
|Agriculture and forestry||5,781||6,438||-10.2%|
|Mining and oil extraction||236||340||-30.6%|
As the table above indicates, Mining and oil extraction has not only had a reduction in the number of businesses but the number of employees has declined significantly. While the number of employees is the smallest sector in the state, there are 30.6% fewer people employed since the recession. The Retail trade sector had a decline in the number of businesses but had an increase in the number of employees of 7%. The Agriculture and forestry sector has had a decrease in employment of over 10% since 2009, in spite of there being more businesses in the state.
The sector with the highest wages is the Utilities sector at $1,962. Prior to the recession, the sector’s average weekly wage was $1,546. This is an increase of $416 per week or 26.9%. The table below illustrates the change in average weekly wages in each sector:
|Mining and oil extraction||$1,661||$1,498||10.9%|
|Finance and insurance||$1,437||$1,091||31.7%|
|Transport and warehousing||$1,071||$774||38.4%|
|Real estate and rental||$1,066||$774||37.7%|
|Agriculture and forestry||$722||$598||20.7%|
|Accommodation and food services||$637||$487||30.8%|
|Arts and entertainment||$564||$506||11.5%|
No sector saw a decline in average weekly wage, but several significantly lagged in growth during this period. The Educational services sector increased less than 10% and the Information sector as well as the Arts and entertainment sector both grew half as fast (11%) as compared to the state average of 21.1%.
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 Management consulting services which has grown 56.9%. The top industry that has contracted the most is Offices of lawyers which has contracted by 10.1% 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:
|Offices of physicians||1,226||1,185||3.5%|
|Computer systems design and related services||1,002||738||35.8%|
|Other similar organizations||950||1,014||-6.3%|
|Residential building construction||866||884||-2.0%|
|Accounting and bookkeeping services||732||669||9.4%|
|Offices of lawyers||642||714||-10.1%|
|Offices of dentists||640||667||-4.0%|
|Wholesale trade agents and brokers||637||619||2.9%|
|Management consulting services||549||350||56.9%|
|Management of companies and enterprises||505||434||16.4%|
The industry that has experienced the most growth in number of employees (as a percent) since the recession is Professional employer organizations which has grown 62.9%. The industry that has lost the most employees is Offices of physicians which has contracted by 6.0% 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:
|Hotels and motels, except casino hotels||40,396||34,120||18.4%|
|Professional employer organizations||13,995||8,591||62.9%|
|General medical and surgical hospitals||13,896||12,156||14.3%|
|Supermarkets and other grocery stores||10,888||9,655||12.8%|
|Scheduled air transportation||9,162||6,879||33.2%|
|Management of companies and enterprises||8,872||6,996||26.8%|
|Offices of physicians||8,002||8,511||-6.0%|
|Elementary and secondary schools||7,263||7,552||-3.8%|
|Security and armored car services||6,629||6,818||-2.8%|
Since the recession ended, the industry that has experienced the greatest increase in average weekly pay per employee (as a percent) is Photographic equip. merchant wholesalers which has grown 144.6%. The average weekly wage in the Software publishers industry has grown by 10.8% since the recession. This is the industry with the lowest wage growth among top industries in Hawaii . The table below illustrates the 10 largest industries and their change in the average weekly wages since the recession:
|Independent artists, writers, and performers||$3,197||$1,788||78.8%|
|Computer and software merchant wholesalers||$2,890||$1,812||59.5%|
|Marine cargo handling||$2,443||$1,622||50.6%|
|Photographic equip. merchant wholesalers||$2,236||$914||144.6%|
|Industrial building construction||$2,061||$1,141||80.6%|
|Other building equipment contractors||$2,011||$1,606||25.2%|
|Other nondepository credit intermediation||$2,006||$1,314||52.7%|
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 1,000 or more employees. The number of businesses with this number of employees has grown from 16 to 23, which is an increase of 43.8%.
The smallest percentage change in the number of businesses has been in businesses with 5 to 9 employees. The number of businesses with this number of employees has grown from 6,609 to 6,971, which is an increase of 5.5%.
Table 1: Change in the number of Businesses by Size of Business, since the Recession:
|Company Size||Q1 2018||Q1 2010||% Change|
|Fewer than 5 Employees||23,606||20,624||14.5%|
|More Than 1,000 Employees||23||16||43.8%|
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 30,083 to 46,600, which is an increase of 54.9%.
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 33,616 to 35,290, which is an increase of 5.0%.
Table 2: Change in the number of Employees by Size of Business, since the Recession:
|Company Size||Q1 2018||Q1 2010||% Change|
|Fewer than 5 Employees||35,290||33,616||5.0%|
|More Than 1,000 Employees||46,600||30,083||54.9%|
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 $807 to $1,207, which is an increase of 49.6%.
The smallest percentage change in the average weekly wage has been in businesses with 50 to 99 employees. The average weekly wage in companies this size has grown from $722 to $856, which is an increase of 18.6%.
Table 3: Change Average Weekly Wage by Size Since the Recession:
|Company Size||Q1 2018||Q1 2010||% Change|
|Fewer than 5 Employees||$970||$716||35.5%|
|More Than 1,000 Employees||$1,141||$815||40.0%|
This page, created and maintained by Kurt Tietjen, Founder of Stavera, High Peak Media & HomeGearWorks.com. Kurt Tietjen has spent the bulk of his career working with and using data to grow businesses. As the SVP of Operations at TheStreet and the head of Audience & Product at Purch, data helped us create products and content strategies to grow the businesses. My LinkedIn Profile is here.