Maryland Business & Employment Growth Since 2009
- 8,661 more businesses
- 215,757 more employees
- 8.8% increase in total wages
- $10,596 increase in annual wages per employee
- 20.9% increase in wages per employee
Since 2009, the number of businesses in Maryland has grown by 5.3% (6.2% less than the national average of 11.4%). Employment in Maryland has grown by 8.8% (4.8% less than the national average of 13.6%). Wages have grown by 20.9% since the end of the Great Recession. This wage growth is 4.8% less than the national average of 25.7%. The average weekly wage in Maryland of $1,176 is 6.4% above the national average of $1,101. The gap between the national average has widened from 10.0% a widening of 3.6% since the end of the recession.
Sector Growth
Business Sector Growth
| Sector | 2018 | 2009 | Pct Chg |
|---|---|---|---|
| Professional services | 29,669 | 25,364 | 17.0% |
| Other services | 19,295 | 19,056 | 1.3% |
| Retail trade | 18,406 | 19,148 | -3.9% |
| Healthcare | 17,869 | 15,337 | 16.5% |
| Construction | 16,451 | 18,137 | -9.3% |
| Accommodation and food services | 12,270 | 11,079 | 10.8% |
| Waste services | 12,197 | 10,466 | 16.5% |
| Wholesale trade | 10,130 | 10,111 | 0.2% |
| Finance and insurance | 8,393 | 8,645 | -2.9% |
| Real estate and rental | 6,863 | 6,473 | 6.0% |
| Manufacturing | 4,007 | 3,909 | 2.5% |
| Transport and warehousing | 3,971 | 3,903 | 1.7% |
| Educational services | 2,954 | 2,372 | 24.5% |
| Information | 2,726 | 2,649 | 2.9% |
| Arts and entertainment | 2,467 | 2,344 | 5.2% |
| Company management | 718 | 473 | 51.8% |
| Agriculture and forestry | 633 | 589 | 7.5% |
| Utilities | 196 | 143 | 37.1% |
| Mining and oil extraction | 88 | 89 | -1.1% |
The sector that has had the strongest growth [in number of businesses] is the Professional services sector, which has increased by 17.0% since 2009. The sector that has has the largest decline is the Construction sector, which has declined by 9.3% since the recession.
Employment Sector Growth
| Sector | 2018 | 2009 | Pct Chg |
|---|---|---|---|
| Healthcare | 375,860 | 318,943 | 17.8% |
| Retail trade | 283,742 | 276,651 | 2.6% |
| Professional services | 251,938 | 224,240 | 12.4% |
| Accommodation and food services | 234,502 | 195,038 | 20.2% |
| Waste services | 173,207 | 139,807 | 23.9% |
| Construction | 163,169 | 153,091 | 6.6% |
| Manufacturing | 109,726 | 118,658 | -7.5% |
| Finance and insurance | 91,830 | 98,855 | -7.1% |
| Other services | 91,791 | 87,727 | 4.6% |
| Wholesale trade | 85,244 | 87,875 | -3.0% |
| Transport and warehousing | 83,679 | 61,723 | 35.6% |
| Educational services | 69,413 | 59,490 | 16.7% |
| Arts and entertainment | 47,423 | 35,207 | 34.7% |
| Real estate and rental | 46,459 | 43,015 | 8.0% |
| Information | 36,219 | 46,240 | -21.7% |
| Company management | 27,540 | 20,001 | 37.7% |
| Utilities | 9,727 | 10,101 | -3.7% |
| Agriculture and forestry | 5,330 | 4,928 | 8.2% |
| Mining and oil extraction | 1,117 | 1,496 | -25.3% |
The sector that has had the strongest employment growth [in number of employees] is the Healthcare sector, which has increased by 17.8% since 2009. The sector that has has the largest employment decline in number of employees is the Information sector, which has declined by 21.7% since the recession.
Weekly Wage Growth By Sector
| Sector | 2018 | 2009 | Pct Chg |
|---|---|---|---|
| Utilities | $2,408 | $1,793 | 0.0% |
| Company management | $2,352 | $1,813 | 0.0% |
| Finance and insurance | $2,094 | $1,469 | 0.0% |
| Professional services | $1,911 | $1,568 | 0.0% |
| Information | $1,785 | $1,326 | 0.0% |
| Wholesale trade | $1,559 | $1,289 | 0.0% |
| Manufacturing | $1,518 | $1,216 | 0.0% |
| Mining and oil extraction | $1,317 | $1,013 | 0.0% |
| Construction | $1,267 | $1,030 | 0.0% |
| Real estate and rental | $1,253 | $973 | 0.0% |
| Educational services | $1,111 | $894 | 0.0% |
| Healthcare | $1,032 | $890 | 0.0% |
| Transport and warehousing | $992 | $824 | 0.0% |
| Waste services | $842 | $686 | 0.0% |
| Other services | $831 | $634 | 0.0% |
| Agriculture and forestry | $726 | $578 | 0.0% |
| Arts and entertainment | $620 | $518 | 0.0% |
| Retail trade | $618 | $527 | 0.0% |
| Accommodation and food services | $430 | $335 | 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 Retail trade 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 | 9,408 | 6,520 | 0.0% |
| Private households | 7,411 | 8,012 | 0.0% |
| Management consulting services | 5,701 | 4,901 | 0.0% |
| Offices of physicians | 4,870 | 4,800 | 0.0% |
| Residential building construction | 4,455 | 5,176 | 0.0% |
| Wholesale trade agents and brokers | 4,080 | 3,888 | 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 Residential building construction industry, which has declined by 0.0% since the recession.
Employment Industry Growth
| Industry | 2018 | 2009 | Pct Chg |
|---|---|---|---|
| General medical and surgical hospitals | 98,943 | 94,123 | 0.0% |
| Computer systems design and related services | 77,173 | 60,604 | 0.0% |
| Offices of physicians | 52,895 | 45,767 | 0.0% |
| Supermarkets and other grocery stores | 49,587 | 47,547 | 0.0% |
| Temporary help services | 43,893 | 32,235 | 0.0% |
| Management consulting services | 34,937 | 26,106 | 0.0% |
The top industry that has had the largest increase in the number of employees 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 employees is the Supermarkets and other grocery stores industry, which has declined by 0.0% since the recession.
Weekly Wage Growth By Industry
| Industry | 2018 | 2009 | Pct Chg |
|---|---|---|---|
| Other financial vehicles | $6,192 | $2,608 | 0.0% |
| Miscellaneous intermediation | $4,493 | $3,826 | 0.0% |
| Investment advice | $4,410 | $2,472 | 0.0% |
| Investment banking and securities dealing | $3,840 | $2,911 | 0.0% |
| Securities brokerage | $3,650 | $2,475 | 0.0% |
| Computer and software merchant wholesalers | $3,474 | $2,483 | 0.0% |
| Portfolio management | $3,409 | $2,849 | 0.0% |
The top industry that has had the strongest wage growth is the Other financial vehicles industry, which has increased by 0.0% since 2009. The top industry that has has the largest wage decline is the Portfolio management 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 1,000 or more employees. The number of businesses with this number of employees has grown from 78 to 93, which is an increase of 19.2%.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 25,201 to 25,792, which is an increase of 2.3%.
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 | 102,127 | 97,755 | 4.5% |
| 5-9 Employees | 25,792 | 25,201 | 2.3% |
| 10-19 Employees | 18,579 | 17,176 | 8.2% |
| 20-49 Employees | 13,396 | 11,836 | 13.2% |
| 50-99 Employees | 4,655 | 4,130 | 12.7% |
| 100-249 Employees | 2,575 | 2,313 | 11.3% |
| 250-499 Employees | 526 | 444 | 18.5% |
| 500-999 Employees | 157 | 137 | 14.6% |
| More Than 1,000 Employees | 93 | 78 | 19.2% |
Employment Growth by Company Size
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 163,185 to 198,901, which is an increase of 21.9%.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 163,355 to 169,022, which is an increase of 3.5%.
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 | 152,428 | 141,384 | 7.8% |
| 5-9 Employees | 169,022 | 163,355 | 3.5% |
| 10-19 Employees | 248,639 | 228,425 | 8.8% |
| 20-49 Employees | 400,419 | 352,389 | 13.6% |
| 50-99 Employees | 315,251 | 277,614 | 13.6% |
| 100-249 Employees | 374,603 | 338,428 | 10.7% |
| 250-499 Employees | 174,452 | 147,979 | 17.9% |
| 500-999 Employees | 104,057 | 92,950 | 11.9% |
| More Than 1,000 Employees | 198,901 | 163,185 | 21.9% |
Weekly Wage Growth by Company Size
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 $858 to $1,180, which is an increase of 37.5%.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 $1,144 to $1,317, which is an increase of 15.1%.
Table: Change Average Weekly Wage by Size Since the Recession:
| Company Size | Q1 2018 | Q1 2010 | % Change |
|---|---|---|---|
| Fewer than 5 Employees | $1,180 | $858 | 37.5% |
| 5-9 Employees | $980 | $750 | 30.7% |
| 10-19 Employees | $958 | $774 | 23.8% |
| 20-49 Employees | $1,023 | $818 | 25.1% |
| 50-99 Employees | $1,087 | $853 | 27.4% |
| 100-249 Employees | $1,213 | $977 | 24.2% |
| 250-499 Employees | $1,317 | $1,144 | 15.1% |
| 500-999 Employees | $1,666 | $1,368 | 21.8% |
| More Than 1,000 Employees | $1,606 | $1,274 | 26.1% |
Data Sources
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