- 5,274 more businesses
- 101,787 more employees
- 23.5% increase in total wages
- $6,320 in additional annual wages per employee
- 15.6% increase in wages per employee
Since 2009, the number of businesses in Louisiana has grown by 4.4% (5.1% less than the national average of 9.5%). Employment in Louisiana has grown by 6.8% (7.6% less than the national average of 14.4%). Wages have grown by 15.6% since the end of the Great Recession. This wage growth is 6.9% less than the national average of 22.5%.
The average weekly wage in Louisiana of $900 is 15.4% below the national average of $1,064. The gap between the national average has widened from 10.3% a widening of 5.2% since the end of the recession.
The Retail trade sector has the most businesses in the state of Louisiana . Since the end of the recession, the number of businesses has grown from 17,274 to 17,686, a gain of 2.4%. The table below illustrates the change in number of businesses in each sector:
|Accommodation and food services||10,311||8,635||19.4%|
|Finance and insurance||8,300||8,150||1.8%|
|Real estate and rental||5,318||5,261||1.1%|
|Transport and warehousing||4,279||4,167||2.7%|
|Arts and entertainment||1,704||1,444||18.0%|
|Mining and oil extraction||1,625||1,752||-7.2%|
|Agriculture and forestry||1,457||1,469||-0.8%|
Some of the sectors that have fewer businesses contracted since 2009. The Mining and oil extraction sector is an important one for Louisiana and that sector has 7.2% fewer businesses since the recession. The Information and Construction sectors contracted by 6.3% and 6.0% respectively. The sectors with the best growth are Accommodation and food services which grew 19.4% and Waste services which grew 16.7%.
The Healthcare sector employs the most workers in the state of Louisiana . The number of jobs has increased 17.7% since the end of the recession from 226,964 to 267,064. The table below illustrates the change in employment in each sector:
|Accommodation and food services||203,928||165,966||22.9%|
|Transport and warehousing||68,956||65,747||4.9%|
|Finance and insurance||56,073||56,416||-0.6%|
|Mining and oil extraction||32,877||48,539||-32.3%|
|Real estate and rental||29,698||30,479||-2.6%|
|Arts and entertainment||29,180||28,340||3.0%|
|Agriculture and forestry||9,375||9,257||1.3%|
The Mining and oil extraction sector lost nearly 1/3 of its employees declining from 48,539 to 32,877 employees. This is the highest paid sector in the state and this decline helped to keep wage growth low. The Accommodation and food services and Educational services sectors had the best growth at 22.95% and 37.9% respectively.
The sector with the highest wages is the Mining and oil extraction sector at $1,764. Prior to the recession, the sector’s average weekly wage was $1,521. This is an increase of $243 per week or 16.0%. The table below illustrates the change in average weekly wages in each sector:
|Mining and oil extraction||$1,764||$1,521||16.0%|
|Finance and insurance||$1,273||$962||32.3%|
|Transport and warehousing||$1,113||$1,011||10.1%|
|Real estate and rental||$915||$804||13.8%|
|Agriculture and forestry||$758||$579||30.9%|
|Arts and entertainment||$666||$570||16.8%|
|Accommodation and food services||$358||$310||15.5%|
All sectors had wage growth, but many of the key sectors in the state did not grow fast enough to keep up with the national averages. The important Mining and oil extraction sector had wages grow by 16.0% and the growth of employees in the Accommodation and food services sector grew less than the state average at 15.5%.
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 Computer systems design and related services which has grown 53.6%. The top industry that has contracted the most is Private households which has contracted by 20.5% 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 lawyers||3,596||3,660||-1.7%|
|Offices of physicians||3,587||3,643||-1.5%|
|Insurance agencies and brokerages||2,583||2,141||20.6%|
|Gasoline stations with convenience stores||2,454||2,154||13.9%|
|Accounting and bookkeeping services||2,194||1,986||10.5%|
|Wholesale trade agents and brokers||2,080||2,357||-11.8%|
|Computer systems design and related services||1,866||1,215||53.6%|
|Residential building construction||1,772||2,140||-17.2%|
|Plumbing and hvac contractors||1,621||1,649||-1.7%|
The industry that has experienced the most growth in number of employees (as a percent) since the recession is Services for the elderly and disabled which has grown 41.9%. The industry that has lost the most employees is Support activities for mining which has contracted by 34.2% 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||63,715||52,845||20.6%|
|Offices of physicians||39,459||32,573||21.1%|
|Supermarkets and other grocery stores||32,217||29,314||9.9%|
|Nursing care facilities, skilled nursing||26,744||25,263||5.9%|
|Temporary help services||25,897||22,954||12.8%|
|Support activities for mining||25,283||38,399||-34.2%|
|Services for the elderly and disabled||23,809||16,778||41.9%|
|Management of companies and enterprises||23,672||24,143||-2.0%|
|Hotels and motels, except casino hotels||22,940||19,014||20.6%|
|Home health care services||21,072||20,387||3.4%|
Since the recession ended, the industry that has experienced the greatest increase in average weekly pay per employee (as a percent) is Investment banking and securities dealing which has grown 80.6%. The average weekly wage in the Commodity contracts brokerage industry has grown by 13.7% since the recession. This is the industry with the lowest change in wages a month the top industries in Louisiana . The table below illustrates the 10 largest industries and their change in the average weekly wages since the recession:
|Investment banking and securities dealing||$3,720||$2,060||80.6%|
|Druggists’ goods merchant wholesalers||$2,135||$1,763||21.1%|
|Pipeline transportation of crude oil||$2,131||$1,824||16.8%|
|Electric power generation||$2,129||$1,730||23.1%|
|Other basic inorganic chemical manufacturing||$2,019||$1,564||29.1%|
|Commodity contracts brokerage||$1,997||$2,314||-13.7%|
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 49 to 62, which is an increase of 26.5%.
The worst 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 not changed from 124.
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||72,694||71,281||2.0%|
|More Than 1,000 Employees||62||49||26.5%|
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 85,190 to 122,515, which is an increase of 43.8%.
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 143,274 to 144,680, which is an increase of 1.0%.
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||105,777||99,222||6.6%|
|More Than 1,000 Employees||122,515||85,190||43.8%|
The biggest percentage change in the average weekly wage has been in businesses with fewer than 5 employees. The average weekly wage in companies this size has grown from $703 to $905, which is an increase of 28.7%.
The smallest percentage change in the average weekly wage has been in businesses with 20 to 49 employees. The average weekly wage in companies this size has grown from $677 to $797, which is an increase of 17.7%.
Table: Change Average Weekly Wage by Size Since the Recession:
|Company Size||Q1 2018||Q1 2010||% Change|
|Fewer than 5 Employees||$905||$703||28.7%|
|More Than 1,000 Employees||$1,297||$1,015||27.8%|
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.