Indiana Business & Employment Growth Since 2009
- 8,150 more businesses
- 346,647 more employees
- 12.8% increase in total wages
- $9,318 increase in annual wages per employee
- 24.3% increase in wages per employee
Since 2009, the number of businesses in Indiana has grown by 5.1% (6.3% less than the national average of 11.4%). Employment in Indiana has grown by 12.8% (0.8% less than the national average of 13.6%). Wages have grown by 24.3% since the end of the Great Recession. This wage growth is 1.4% less than the national average of 25.7%. The average weekly wage in Indiana of $915 is 20.3% below the national average of $1,101. The gap between the national average has widened from 19.0% a widening of 1.3% since the end of the recession.
Sector Growth
Business Sector Growth
| Sector | 2018 | 2009 | Pct Chg |
|---|---|---|---|
| Retail trade | 20,475 | 20,683 | -1.0% |
| Professional services | 18,899 | 15,802 | 19.6% |
| Construction | 15,250 | 16,586 | -8.1% |
| Wholesale trade | 14,005 | 13,959 | 0.3% |
| Healthcare | 13,818 | 12,586 | 9.8% |
| Accommodation and food services | 13,333 | 12,016 | 11.0% |
| Other services | 13,175 | 13,183 | -0.1% |
| Finance and insurance | 10,095 | 9,995 | 1.0% |
| Waste services | 9,727 | 8,454 | 15.1% |
| Manufacturing | 8,845 | 8,962 | -1.3% |
| Real estate and rental | 6,490 | 5,883 | 10.3% |
| Transport and warehousing | 5,868 | 5,398 | 8.7% |
| Arts and entertainment | 2,285 | 2,042 | 11.9% |
| Information | 2,133 | 2,244 | -4.9% |
| Educational services | 1,917 | 1,542 | 24.3% |
| Agriculture and forestry | 1,899 | 1,389 | 36.7% |
| Company management | 1,296 | 957 | 35.4% |
| Utilities | 472 | 444 | 6.3% |
| Mining and oil extraction | 325 | 335 | -3.0% |
The sector that has had the strongest growth [in number of businesses] is the Professional services sector, which has increased by 19.6% since 2009. The sector that has has the largest decline is the Construction sector, which has declined by 8.1% since the recession.
Employment Sector Growth
| Sector | 2018 | 2009 | Pct Chg |
|---|---|---|---|
| Manufacturing | 541,773 | 441,623 | 22.7% |
| Healthcare | 408,536 | 343,404 | 19.0% |
| Retail trade | 321,155 | 308,049 | 4.3% |
| Accommodation and food services | 267,797 | 233,714 | 14.6% |
| Waste services | 189,400 | 139,443 | 35.8% |
| Construction | 141,006 | 120,330 | 17.2% |
| Transport and warehousing | 135,390 | 102,841 | 31.6% |
| Wholesale trade | 120,681 | 115,261 | 4.7% |
| Professional services | 119,235 | 95,234 | 25.2% |
| Finance and insurance | 97,731 | 94,880 | 3.0% |
| Other services | 87,895 | 80,344 | 9.4% |
| Educational services | 50,941 | 46,009 | 10.7% |
| Arts and entertainment | 42,605 | 42,962 | -0.8% |
| Real estate and rental | 35,866 | 32,868 | 9.1% |
| Company management | 34,330 | 27,518 | 24.8% |
| Information | 29,371 | 37,635 | -22.0% |
| Agriculture and forestry | 15,293 | 12,449 | 22.8% |
| Utilities | 13,929 | 15,329 | -9.1% |
| Mining and oil extraction | 5,943 | 6,291 | -5.5% |
The sector that has had the strongest employment growth [in number of employees] is the Manufacturing sector, which has increased by 22.7% since 2009. The sector that has has the largest employment decline in number of employees is the Information sector, which has declined by 22.0% since the recession.
Weekly Wage Growth By Sector
| Sector | 2018 | 2009 | Pct Chg |
|---|---|---|---|
| Company management | $1,923 | $1,388 | 0.0% |
| Utilities | $1,860 | $1,410 | 0.0% |
| Finance and insurance | $1,390 | $1,003 | 0.0% |
| Mining and oil extraction | $1,355 | $1,112 | 0.0% |
| Professional services | $1,340 | $1,027 | 0.0% |
| Wholesale trade | $1,317 | $1,000 | 0.0% |
| Manufacturing | $1,205 | $1,007 | 0.0% |
| Information | $1,161 | $920 | 0.0% |
| Construction | $1,123 | $905 | 0.0% |
| Healthcare | $934 | $759 | 0.0% |
| Transport and warehousing | $892 | $727 | 0.0% |
| Real estate and rental | $879 | $633 | 0.0% |
| Educational services | $775 | $640 | 0.0% |
| Agriculture and forestry | $771 | $580 | 0.0% |
| Arts and entertainment | $649 | $544 | 0.0% |
| Waste services | $635 | $512 | 0.0% |
| Other services | $632 | $492 | 0.0% |
| Retail trade | $539 | $440 | 0.0% |
| Accommodation and food services | $320 | $248 | 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 Accommodation and food services sector, which has declined by 0.0% since the recession.
Industry Growth
Business Industry Growth
| Industry | 2018 | 2009 | Pct Chg |
|---|---|---|---|
| Computer systems design and related services | 4,522 | 2,789 | 0.0% |
| Wholesale trade agents and brokers | 3,463 | 2,774 | 0.0% |
| Management consulting services | 3,420 | 2,405 | 0.0% |
| Residential building construction | 3,397 | 3,891 | 0.0% |
| Insurance agencies and brokerages | 3,255 | 3,006 | 0.0% |
| Offices of physicians | 2,534 | 3,070 | 0.0% |
The top industry that has had the largest increase in the number of businesses is the Computer systems design and related services 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 Offices of physicians industry, which has declined by 0.0% since the recession.
Employment Industry Growth
| Industry | 2018 | 2009 | Pct Chg |
|---|---|---|---|
| General medical and surgical hospitals | 114,765 | 101,663 | 0.0% |
| Temporary help services | 83,200 | 42,352 | 0.0% |
| Offices of physicians | 54,177 | 46,442 | 0.0% |
| Nursing care facilities skilled nursing | 46,997 | 46,307 | 0.0% |
| Motor vehicle body and trailer manufacturing | 43,846 | 20,141 | 0.0% |
The top industry that has had the largest increase in the number of employees is the Temporary help services 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 |
|---|---|---|---|
| Investment banking and securities dealing | $3,423 | $2,407 | 0.0% |
| Pharmaceutical and medicine manufacturing | $2,966 | $2,176 | 0.0% |
| Spectator sports | $2,485 | $1,346 | 0.0% |
| Securities brokerage | $2,430 | $1,508 | 0.0% |
| Research and development in the physical engineering and life sciences | $2,417 | $1,428 | 0.0% |
The top industry that has had the strongest wage growth is the Spectator sports industry, which has increased by 0.0% since 2009. The top industry that has has the largest wage decline is the Pharmaceutical and medicine manufacturing 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 500 to 999 employees. The number of businesses with this number of employees has grown from 208 to 291, which is an increase of 39.9%.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 27,786 to 28,346, which is an increase of 2.0%.
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 | 88,394 | 85,182 | 3.8% |
| 5-9 Employees | 28,346 | 27,786 | 2.0% |
| 10-19 Employees | 20,349 | 18,821 | 8.1% |
| 20-49 Employees | 14,946 | 12,490 | 19.7% |
| 50-99 Employees | 5,121 | 4,450 | 15.1% |
| 100-249 Employees | 2,978 | 2,563 | 16.2% |
| 250-499 Employees | 743 | 667 | 11.4% |
| 500-999 Employees | 291 | 208 | 39.9% |
| More Than 1,000 Employees | 139 | 123 | 13.0% |
Employment Growth by Company Size
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 139,672 to 198,620, which is an increase of 42.2%.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 182,277 to 185,995, which is an increase of 2.0%.
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 | 138,598 | 130,733 | 6.0% |
| 5-9 Employees | 185,995 | 182,277 | 2.0% |
| 10-19 Employees | 271,838 | 252,019 | 7.9% |
| 20-49 Employees | 443,865 | 370,802 | 19.7% |
| 50-99 Employees | 349,819 | 301,123 | 16.2% |
| 100-249 Employees | 445,811 | 373,259 | 19.4% |
| 250-499 Employees | 251,487 | 228,641 | 10.0% |
| 500-999 Employees | 198,620 | 139,672 | 42.2% |
| More Than 1,000 Employees | 319,227 | 250,888 | 27.2% |
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 $861 to $1,233, which is an increase of 43.2%.The smallest 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 $1,262 to $1,555, which is an increase of 23.2%.
Table: Change Average Weekly Wage by Size Since the Recession:
| Company Size | Q1 2018 | Q1 2010 | % Change |
|---|---|---|---|
| Fewer than 5 Employees | $941 | $694 | 35.6% |
| 5-9 Employees | $765 | $578 | 32.4% |
| 10-19 Employees | $752 | $578 | 30.1% |
| 20-49 Employees | $770 | $612 | 25.8% |
| 50-99 Employees | $834 | $641 | 30.1% |
| 100-249 Employees | $899 | $708 | 27.0% |
| 250-499 Employees | $1,022 | $809 | 26.3% |
| 500-999 Employees | $1,233 | $861 | 43.2% |
| More Than 1,000 Employees | $1,555 | $1,262 | 23.2% |
Data Sources
About the Writer
