- 11,517 fewer businesses
- 423,348 more employees
- 31.6% increase in total wages
- $10,051 in additional annual wages per employee
- 20.8% increase in wages per employee
Since 2009, the number of businesses in Illinois has grown by -3.2% (12.7% less than the national average of 9.5%). Employment in Illinois has grown by 9.0% (5.5% less than the national average of 14.4%). Wages have grown by 20.8% since the end of the Great Recession. This wage growth is 1.8% less than the national average of 22.5%.
The average weekly wage in Illinois of $1,123 is 5.5% above the national average of $1,064. The gap between the national average has decreased from 7.1% a narrowing of 1.6% since the end of the recession.
The Professional services sector has the most businesses in the state of Illinois. Since the end of the recession, the number of businesses has grown from 50,763 to 52,319, a gain of 3.1%. The table below illustrates the change in number of businesses in each sector:
|Accommodation and food services||26,959||25,697||4.9%|
|Finance and insurance||19,359||21,705||-10.8%|
|Transport and warehousing||15,944||13,176||21.0%|
|Real estate and rental||12,755||13,844||-7.9%|
|Arts and entertainment||5,117||4,888||4.7%|
|Agriculture and forestry||2,138||1,705||25.4%|
|Mining and oil extraction||592||675||-12.3%|
Nine of the 19 sectors lost businesses since the recession ended in 2009, including 2 in the top 5. Retail trade (-4.9%), Construction (-20.2%), Wholesale trade (-15.0%) and Finance and insurance (-10.8%) all contributed to a loss of nearly 20,000 businesses in these nine sectors. A few sectors grew by more than 20% including Transport and warehousing (+21.0%), Educational services (+21.7%) and Agriculture and forestry (+25.4%). While these sectors added businesses, it was not enough to offset the decreases. The state has 11,517 fewer businesses since the recession ended in 2009.
The Healthcare sector employs the most workers in the state of Illinois . The number of jobs has increased 12.8% since the end of the recession from 677,042 to 763,947. The table below illustrates the change in employment in each sector:
|Accommodation and food services||519,601||439,672||18.2%|
|Finance and insurance||288,667||290,576||-0.7%|
|Transport and warehousing||251,033||212,098||18.4%|
|Arts and entertainment||90,499||77,093||17.4%|
|Real estate and rental||81,849||74,847||9.4%|
|Agriculture and forestry||18,904||15,770||19.9%|
|Mining and oil extraction||7,761||9,297||-16.5%|
Only a few sectors lost employees since the recession including Manufacturing (-0.5%), Finance and insurance (-0.7%) and Information (-9.8%). Several sectors grew well like Waste services (+18.2%), Accommodation and food services (+18.2%) and Professional services (+18.7%) all contributed to the addition of nearly 425,000 employees since the recession.
The sector with the highest wages is the Company management sector at $2,434. Prior to the recession, the sector’s average weekly wage was $2,011. This is an increase of $423 per week or 21.0%. The table below illustrates the change in average weekly wages in each sector:
|Finance and insurance||$2,225||$1,688||31.8%|
|Mining and oil extraction||$1,445||$1,160||24.6%|
|Real estate and rental||$1,265||$933||35.6%|
|Transport and warehousing||$1,042||$844||23.5%|
|Agriculture and forestry||$724||$597||21.3%|
|Arts and entertainment||$685||$593||15.5%|
|Accommodation and food services||$398||$323||23.2%|
Wages in Illinois lagged the national average by about 1.8% since the recession. Wages of employees in the Finance and insurance sector grew by 31.8% and wages in the Information sector grew 30% since the recession.
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 Private households which has grown 24.8%. The top industry that has contracted the most is Residential building construction which has contracted by 24.1% 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:
|Computer systems design and related services||12,078||10,433||15.8%|
|Management consulting services||9,901||9,986||-0.9%|
|Residential building construction||8,215||10,824||-24.1%|
|Offices of lawyers||7,820||8,141||-3.9%|
|Wholesale trade agents and brokers||7,763||9,297||-16.5%|
|Offices of physicians||6,819||7,998||-14.7%|
|Insurance agencies and brokerages||6,130||6,754||-9.2%|
|Accounting and bookkeeping services||5,703||5,388||5.8%|
|Offices of dentists||5,665||5,592||1.3%|
The industry that has experienced the most growth in number of employees (as a percent) since the recession is Temporary help services which has grown 62.9%. The industry that has lost the most employees is Nursing care facilities, skilled nursing which has contracted by 0.1% 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||233,230||227,619||2.5%|
|Temporary help services||175,374||107,668||62.9%|
|Supermarkets and other grocery stores||97,675||93,177||4.8%|
|Management of companies and enterprises||96,963||95,140||1.9%|
|Offices of physicians||93,403||85,738||8.9%|
|Computer systems design and related services||84,784||56,668||49.6%|
|Nursing care facilities, skilled nursing||78,382||78,426||-0.1%|
|Management consulting services||75,401||55,428||36.0%|
|Colleges and universities||73,645||63,888||15.3%|
Since the recession ended, the industry that has experienced the greatest increase in average weekly pay per employee (as a percent) is Pharmaceutical and medicine manufacturing which has grown 56.7%. The average weekly wage in the Open-end investment funds industry has grown by 3.4% since the recession. This is the industry with the lowest change in wages amonth the top industries in Illinois . The table below illustrates the 10 largest industries and their change in the average weekly wages since the recession:
|Commodity contracts dealing||$5,275||$3,441||53.3%|
|Investment banking and securities dealing||$4,951||$3,928||26.0%|
|Securities and commodity exchanges||$3,986||$2,616||52.4%|
|Open-end investment funds||$3,740||$3,871||-3.4%|
|Pharmaceutical and medicine manufacturing||$3,239||$2,067||56.7%|
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 500 to 999 employees. The number of businesses with this number of employees has grown from 475 to 598, which is an increase of 25.9%.
The worst 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 declined from 243,192 to 235,696, which is a decrease of 3.1%.
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||235,696||243,192||-3.1%|
|More Than 1,000 Employees||348||287||21.3%|
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 321,764 to 412,134, which is an increase of 28.1%.
The smallest percentage change in the number of employees has been in businesses with 5 to 9 employees. The number of employees with this number of employees has grown from 328,596 to 329,309, which is an increase of 0.2%.
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||311,710||288,704||8.0%|
|More Than 1,000 Employees||752,476||609,931||23.4%|
The biggest 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 $1,084 to $1,609, which is an increase of 48.4%.
The smallest percentage change in the average weekly wage has been in businesses with 10 to 19 employees. The average weekly wage in companies this size has grown from $772 to $957, which is an increase of 24.0%.
Table: Change Average Weekly Wage by Size Since the Recession:
|Company Size||Q1 2018||Q1 2010||% Change|
|Fewer than 5 Employees||$1,046||$819||27.7%|
|More Than 1,000 Employees||$1,718||$1,267||35.6%|
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.