- 5,382 more businesses
- 89,113 more employees
- 44.5% increase in total wages
- $7,633 in additional annual wages per employee
- 22.7% increase in wages per employee
Since 2009, the number of businesses in Idaho has grown by 10.1% (0.6% greater than the national average of 9.5%). Employment in Idaho has grown by 17.8% (3.4% greater than the national average of 14.4%). Wages have grown by 22.7% since the end of the Great Recession. This wage growth is 0.1% greater than the national average of 22.5%.
The average weekly wage in Idaho of $795 is 25.3% below the national average of $1,064. The gap between the national average has stayed the same since the recession.
The Construction sector has the most businesses in the state of Idaho . Since the end of the recession, the number of businesses has grown from 8,617 to 7,660, a gain of -11.1%. The table below illustrates the change in number of businesses in each sector:
|Accommodation and food services||3,903||3,380||15.5%|
|Finance and insurance||3,226||3,093||4.3%|
|Real estate and rental||2,296||2,424||-5.3%|
|Agriculture and forestry||2,283||2,054||11.1%|
|Transport and warehousing||1,962||1,842||6.5%|
|Arts and entertainment||1,004||825||21.7%|
|Mining and oil extraction||165||174||-5.2%|
Three sectors besides the largest, Construction, lost businesses since the recession. Retail trade lost 2.2% of its businesses, Real estate and rental lost 5.3% and Mining and oil extraction lost 5.2% of its businesses since 2009. Several sectors had very strong growth including Professional services (+25.6%), Healthcare (+41.4%) and Information (+24.3%).
The Healthcare sector employs the most workers in the state of Idaho . The number of jobs has increased 24.3% since the end of the recession from 71,888 to 89,348. The table below illustrates the change in employment in each sector:
|Accommodation and food services||64,044||50,067||27.9%|
|Agriculture and forestry||24,614||22,295||10.4%|
|Finance and insurance||23,383||20,429||14.5%|
|Transport and warehousing||19,478||16,697||16.7%|
|Arts and entertainment||10,884||8,564||27.1%|
|Real estate and rental||7,681||7,261||5.8%|
|Mining and oil extraction||2,176||2,171||0.2%|
Only two sectors suffered employment declines since 2009; Information lost 11.3% and Company management lost 13.3% of their employees. The sectors with the strongest employment growth are Accommodation and food services which grew 27.9%, Waste services grew 25.3% and Construction grew 23.9%.
The sector with the highest wages is the Utilities sector at $1,618. Prior to the recession, the sector’s average weekly wage was $1,199. This is an increase of $419 per week or 34.9%. The table below illustrates the change in average weekly wages in each sector:
|Mining and oil extraction||$1,372||$1,091||25.8%|
|Finance and insurance||$1,153||$875||31.8%|
|Transport and warehousing||$781||$638||22.4%|
|Agriculture and forestry||$683||$513||33.1%|
|Real estate and rental||$676||$528||28.0%|
|Arts and entertainment||$355||$304||16.8%|
|Accommodation and food services||$308||$248||24.2%|
The strong employment growth in Idaho led to the slightly above average wage growth in the state. Wages in both the Manufacturing and Finance and insurance sectors grew by 31.8%, Wholesale trade grew by 30.0% and wages in the Agriculture and forestry sector grew 33.1%.
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 Home health care services which has grown 724.1%. The top industry that has contracted the most is Residential building construction which has contracted by 19.4% 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:
|Residential building construction||1,774||2,201||-19.4%|
|Home health care services||1,607||195||724.1%|
|Computer systems design and related services||1,463||837||74.8%|
|Management consulting services||1,055||814||29.6%|
|Offices of physicians||1,016||1,108||-8.3%|
|Accounting and bookkeeping services||977||858||13.9%|
|Insurance agencies and brokerages||872||841||3.7%|
|Offices of real estate agents and brokers||822||907||-9.4%|
|Offices of lawyers||818||837||-2.3%|
The industry that has experienced the most growth in number of employees (as a percent) since the recession is Home health care services which has grown 50.0%. The industry that has added the lowest percentage of employees is Commercial banking which has has grown by 3.7% 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||21,418||16,615||28.9%|
|Supermarkets and other grocery stores||12,313||10,038||22.7%|
|Offices of physicians||11,107||10,098||10.0%|
|Temporary help services||10,345||8,348||23.9%|
|Telephone call centers||9,277||8,911||4.1%|
|Semiconductor and electronic component mfg.||9,107||7,727||17.9%|
|Hotels and motels, except casino hotels||8,663||7,520||15.2%|
|Home health care services||8,265||5,509||50.0%|
|Dairy cattle and milk production||7,213||5,896||22.3%|
Since the recession ended, the industry that has experienced the greatest increase in average weekly pay per employee (as a percent) is Credit bureaus which has grown 417.9%. The average weekly wage in the Business to business electronic markets industry has grown by 39.7% since the recession. This is the industry with the lowest wage growth among top industries in Idaho . The table below illustrates the 10 largest industries and their change in the average weekly wages since the recession:
|Investment banking and securities dealing||$2,954||$1,842||60.4%|
|Semiconductor and electronic component mfg.||$2,660||$1,389||91.5%|
|Other financial vehicles||$2,616||$742||252.6%|
|Computer and software merchant wholesalers||$2,568||$1,639||56.7%|
|Agents and managers for public figures||$2,312||$573||303.5%|
|Mortgage and nonmortgage loan brokers||$2,141||$801||167.3%|
|Gold ore and silver ore mining||$2,120||$1,357||56.2%|
|Business to business electronic markets||$2,038||$1,459||39.7%|
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 250 to 499 employees. The number of businesses with this number of employees has grown from 91 to 139, which is an increase of 52.7%.
The worst 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 stayed the same at 17.
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||37,075||33,481||10.7%|
|More Than 1,000 Employees||17||17||0.0%|
The biggest percentage change in the number of employees has been in businesses with 250 to 499 employees. The number of employees in companies this size has grown from 31,153 to 46,321, which is an increase of 48.7%.
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 34,760 to 36,373, which is an increase of 4.6%.
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||53,450||46,279||15.5%|
|More Than 1,000 Employees||36,373||34,760||4.6%|
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 $709 to $1,120, which is an increase of 58.0%.
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 $751 to $868, which is an increase of 15.6%.
Table: Change Average Weekly Wage by Size Since the Recession:
|Company Size||Q1 2018||Q1 2010||% Change|
|Fewer than 5 Employees||$869||$643||35.1%|
|More Than 1,000 Employees||$1,477||$1,068||38.3%|
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.