- 7,138 more businesses
- 92,859 more employees
- 35.0% increase in total wages
- $9,219 in additional annual wages per employee
- 25.4% increase in wages per employee
Since 2009, the number of businesses in Iowa has grown by 8.1% (1.4% less than the national average of 9.5%). Employment in Iowa has grown by 7.7% (6.8% less than the national average of 14.4%). Wages have grown by 25.4% since the end of the Great Recession. This wage growth is 2.8% greater than the national average of 22.5%.
The average weekly wage in Iowa of $876 is 17.7% below the national average of $1,064. The gap between the national average has widened from 19.6% a widening of 1.9% since the end of the recession.
The Retail trade sector has the most businesses in the state of Iowa . Since the end of the recession, the number of businesses has grown from 12,606 to 11,814, a gain of -6.3%. The table below illustrates the change in number of businesses in each sector:
|Accommodation and food services||7,066||6,735||4.9%|
|Finance and insurance||6,591||6,291||4.8%|
|Transport and warehousing||3,746||3,726||0.5%|
|Real estate and rental||3,392||3,004||12.9%|
|Agriculture and forestry||2,571||1,834||40.2%|
|Arts and entertainment||1,467||1,446||1.5%|
|Mining and oil extraction||195||189||3.2%|
In addition to the Retail trade sector, Manufacturing (-0.5%) and Utilities (-7.5%) had a net reduction in the number of businesses operating in Iowa since 2009. There was significant growth in the #2 sector, Healthcare, which grew by 28.3%. The Agriculture and forestry sector and Educational services sector increased by 40.2% and 39.8% respectively.
The Manufacturing sector employs the most workers in the state of Iowa . The number of jobs has increased 6.4% since the end of the recession from 202,863 to 215,910. The table below illustrates the change in employment in each sector:
|Accommodation and food services||122,751||112,304||9.3%|
|Finance and insurance||94,372||88,962||6.1%|
|Transport and warehousing||57,090||50,188||13.8%|
|Arts and entertainment||20,350||20,263||0.4%|
|Agriculture and forestry||20,188||15,680||28.8%|
|Real estate and rental||14,610||12,879||13.4%|
|Mining and oil extraction||2,315||2,178||6.3%|
The Information sector had a significant decline in the number of employees with a decrease of 28.3% of its employees. The sector lost more than 8,600 jobs decreasing from 30,522 to 21,891 since the end of the recession. The Construction and Healthcare sectors added the most employees with 17.2% and 10.3% growth respectively.
The sector with the highest wages is the Utilities sector at $1,758. Prior to the recession, the sector’s average weekly wage was $1,457. This is an increase of $301 per week or 20.7%. The table below illustrates the change in average weekly wages in each sector
|Finance and insurance||$1,454||$1,075||35.3%|
|Mining and oil extraction||$1,120||$822||36.3%|
|Real estate and rental||$879||$646||36.1%|
|Transport and warehousing||$860||$707||21.6%|
|Agriculture and forestry||$759||$597||27.1%|
|Arts and entertainment||$340||$344||-1.2%|
|Accommodation and food services||$309||$236||30.9%|
Average weekly wages grew by 25.4% since 2009. All sectors but 1, Arts and entertainment had strong growth. The Arts sector posted a decline of 1.2% since 2009.
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 Services for the elderly and disabled which has grown 643.1%. The top industry that has contracted the most is Offices of lawyers which has contracted by 5.6% 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||2,627||2,114||24.3%|
|Computer systems design and related services||2,245||1,484||51.3%|
|Insurance agencies and brokerages||2,180||2,167||0.6%|
|Residential building construction||1,953||1,958||-0.3%|
|Gasoline stations with convenience stores||1,632||1,641||-0.5%|
|Services for the elderly and disabled||1,553||209||643.1%|
|Offices of physicians||1,434||1,421||0.9%|
|Offices of lawyers||1,395||1,477||-5.6%|
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 54.1%. The industry that has lost the most employees is General freight trucking, long-distance which has contracted by 0.8% 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||41,259||41,203||0.1%|
|Supermarkets and other grocery stores||39,453||34,419||14.6%|
|Animal slaughtering and processing||30,414||29,207||4.1%|
|Nursing care facilities, skilled nursing||28,564||28,208||1.3%|
|Temporary help services||24,303||15,766||54.1%|
|Offices of physicians||23,415||20,597||13.7%|
|Gasoline stations with convenience stores||19,974||16,239||23.0%|
|General freight trucking, long-distance||19,255||19,420||-0.8%|
|Management of companies and enterprises||19,155||12,802||49.6%|
Since the recession ended, the industry that has experienced the greatest increase in average weekly pay per employee (as a percent) is Investment advice which has grown 137.4%. The average weekly wage in the Electric power generation industry has grown by 20.6% since the recession. This is the industry with the lowest wage growth among top industries in Iowa . The table below illustrates the 10 largest industries and their change in the average weekly wages since the recession:
|Open-end investment funds||$3,221||$1,527||110.9%|
|Investment banking and securities dealing||$2,954||$2,321||27.3%|
|Commodity contracts dealing||$2,302||$1,364||68.8%|
|Internet publishing and web search portals||$2,134||$971||119.8%|
|Other nondepository credit intermediation||$2,030||$1,225||65.7%|
|Electric power generation||$2,007||$1,664||20.6%|
|Direct life and health insurance carriers||$1,902||$1,349||41.0%|
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 100 to 249 employees. The number of businesses with this number of employees has grown from 1,128 to 1,297, which is an increase of 15.0%.
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 16,806 to 16,841, which is an increase of 0.2%
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||54,899||49,089||11.8%|
|More Than 1,000 Employees||57||53||7.5%|
The biggest percentage change in the number of employees has been in businesses with 100 to 249 employees. The number of employees in companies this size has grown from 167,655 to 193,978, which is an increase of 15.7%.
The worst 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 declined from 110,216 to 110,119, which is a decrease of 0.1%.
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||90,839||84,529||7.5%|
|More Than 1,000 Employees||114,968||104,568||9.9%|
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 $1,044 to $1,461, which is an increase of 39.9%.
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 $806 to $1,013, which is an increase of 25.7%.
Table: Change Average Weekly Wage by Size Since the Recession:
|Company Size||Q1 2018||Q1 2010||% Change|
|Fewer than 5 Employees||$832||$611||36.2%|
|More Than 1,000 Employees||$1,461||$1,044||39.9%|
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.