Maryland Q4, 2019 Employment Statistics- 175,343 employers, up 0.3% from 174,848
- 2,731,158 employees, up 1.0% from 2,704,312
- $1,271 average weekly wage, up 3.5% from $1,228
- The average weekly wage is 7.3% above the national average
- The cost of living is 29.7% above the national average
Employer & Employee Growth
In the last year, the number of employers in the state increased by 495, which is an increase of 0.3%. The number of employees in Maryland increased by 26,847, an increase of 1.0%. During this same period, the average weekly wage increased by $43, an increase of 3.5%.
The number of private employers increased since last years' Q1. The number of private businesses increased by 464 or 0.3%. Growth in private businesses in Maryland grew slower than the national average of 2.5%. The number of employees in these businesses increased since last years' Q1, increasing by 23,127 or 1.0%. The growth in employees of private businesses in Maryland was slower than the national average of 1.2%.
The average weekly wage of employees of private businesses increased since last years' Q1. The averge weekly wage increased by $37 or 3.1%. Growth in average weekly wage of employees of private businesses in Maryland grew slower than the national average of 3.8%.
Leading Sectors
Businesses by Sector
The sector with the greatest number of businesses in the state is Professional services with 17.6% of the businesses in the state. The number of businesses in this sector increased by 1.6%. Other services (10.9%), which decreased by 1.1% and Healthcare (10.5%), which increased by 1.5%, round out the 3 largest sectors.
Table: Sectors by Year-over-Year Qtly Business Change %
| Sector | Change Biz | % Change |
|---|---|---|
| Mining and oil extraction | 5 | 6.1% |
| Real estate and rental | 148 | 2.1% |
| Educational services | 57 | 1.9% |
| Information | 49 | 1.8% |
| Waste services | 212 | 1.7% |
| Transport and warehousing | 67 | 1.7% |
| Professional services | 476 | 1.6% |
| Healthcare | 271 | 1.5% |
| Utilities | 2 | 0.9% |
| Arts and entertainment | 20 | 0.8% |
| Manufacturing | 32 | 0.8% |
| Accommodation and food services | 70 | 0.6% |
| Construction | -62 | -0.4% |
| Finance and insurance | -68 | -0.8% |
| Other services | -223 | -1.1% |
| Agriculture and forestry | -9 | -1.4% |
| Retail trade | -323 | -1.7% |
| Wholesale trade | -307 | -3.0% |
| Company management | -25 | -3.5% |
Employees by Sector
The sector with the greatest number of employees in the state is Healthcare with 14.1% of the employees in the state, had an increase in employees of 1.5% in the last year. Retail trade (10.4%), decreased by 1.5% and Professional services (9.5%), increased by 2.5%, round out the top 3 sectors.Table: Sectors by Year-over-Year Qtly Employee Change %
| Sector | Employee Change | % Change |
|---|---|---|
| Agriculture and forestry | 755 | 14.5% |
| Transport and warehousing | 9,543 | 10.7% |
| Mining and oil extraction | 42 | 3.8% |
| Company management | 945 | 3.4% |
| Professional services | 6,430 | 2.5% |
| Manufacturing | 2,378 | 2.1% |
| Construction | 2,813 | 1.7% |
| Healthcare | 5,649 | 1.5% |
| Wholesale trade | 883 | 1.0% |
| Accommodation and food services | 1,776 | 0.7% |
| Utilities | 60 | 0.6% |
| Real estate and rental | 227 | 0.5% |
| Other services | 291 | 0.3% |
| Waste services | -380 | -0.2% |
| Educational services | -199 | -0.3% |
| Information | -89 | -0.3% |
| Retail trade | -4,402 | -1.5% |
| Finance and insurance | -2,325 | -2.6% |
| Arts and entertainment | -1,363 | -3.1% |
Average Weekly Wage by Sector
The sector that pays their employees the highest is Finance and insurance paying $2,536per week compared with the state average of $1,225. Weekly wages in this sector rose by $237 or 10.3%. Company management ($2,403), rose by $108 or 4.7% and Professional services ($2,132) increased by $68 or 3.3% round out the 3 largest sectors.Table: Sectors by Year-over-Year Weekly Wage Change %
| Sector | Wage Change | Change % |
|---|---|---|
| Finance and insurance | $237 | 10.3% |
| Mining and oil extraction | $93 | 7.3% |
| Agriculture and forestry | $55 | 6.9% |
| Educational services | $63 | 5.7% |
| Company management | $108 | 4.7% |
| Accommodation and food services | $20 | 4.5% |
| Retail trade | $22 | 3.5% |
| Professional services | $68 | 3.3% |
| Other services | $27 | 3.1% |
| Construction | $42 | 3.0% |
| Information | $50 | 2.9% |
| Manufacturing | $40 | 2.7% |
| Waste services | $18 | 2.0% |
| Healthcare | $21 | 1.9% |
| Arts and entertainment | $13 | 1.8% |
| Wholesale trade | $17 | 1.0% |
| Real estate and rental | $-25 | -1.8% |
| Utilities | $-73 | -3.3% |
| Transport and warehousing | $-61 | -6.2% |
Leading Industries
Businesses by Industry
Each broad sector is made up of specific industries. In Maryland. the industry with the most businesses is Restaurants and other eating places with 5.8% of the businesses in the state (with 10,166 employing 184,725 workers). The Restaurants and other eating places industry had 40 more businesses, an increase of 0.4% in the last year. Computer systems design and related services (5.6% of businesses) added 226 businesses, an increase of 2.3% and Private households (4.1% of businesses) had 265 fewer businesses, a decline of 3.5% round out the 3 industries with the most businesses.Table: Top 7 Industries by Business Change %
| Industry | Business Chg | % Change |
|---|---|---|
| Rubber and plastics hose and belting mfg. | 2 | 66.7% |
| Monetary authorities - central bank | 6 | 60.0% |
| Abrasive product manufacturing | 1 | 50.0% |
| Port and harbor operations | 2 | 33.3% |
| Turned product and screw nut and bolt mfg. | 1 | 33.3% |
| Professional employer organizations | 122 | 32.0% |
| Tobacco manufacturing | 3 | 30.0% |
Table: Top 7 Industries by Business Change #
| Industry | Business Chg | % Change |
|---|---|---|
| Computer systems design and related services | 226 | 2.3% |
| Other technical consulting services | 151 | 17.1% |
| Offices of real estate agents and brokers | 145 | 6.2% |
| Research and development in the physical engineering and life sciences | 124 | 10.9% |
| Professional employer organizations | 122 | 32.0% |
| Medical and diagnostic laboratories | 81 | 9.9% |
| Outpatient mental health centers | 79 | 20.7% |
Employees by Industry
Computer systems design and related services (5.6% of employees) added 226 employees, an increase of 2.3% and Private households (4.1% ofemployees) had 265 fewer employees, a decline of 3.5% round out the 3 industries with the most employees.Table: Top 7 Industries by Employee Change %
| Industry | Emp Chg | % Change |
|---|---|---|
| Credit bureaus | 202 | 187.3% |
| Other farm product raw material merch. whls. | 103 | 165.9% |
| Port and harbor operations | 83 | 117.5% |
| Dance companies | 43 | 69.8% |
| Soybean farming | 16 | 66.7% |
| Other performing arts companies | 50 | 64.8% |
| Other activities related to real estate | 536 | 54.0% |
Table: Top 7 Industries by Employee Change #
| Industry | Emp Chg | % Change |
|---|---|---|
| General warehousing and storage | 5,717 | 25.2% |
| Computer systems design and related services | 2,285 | 2.9% |
| Couriers and express delivery services | 1,616 | 10.8% |
| Home health care services | 1,462 | 6.3% |
| Professional employer organizations | 1,438 | 33.8% |
| Offices of physicians | 1,391 | 2.6% |
| Research and development in the physical engineering and life sciences | 1,305 | 4.6% |
Average Weekly Wage by Industry
The industry that pays their employees the most is Investment advice, paying $8,589 compared with the state average of $1,225. Employees in the Investment advice industry were paid $761 more per week, an increase of 9.7% in the last year. Miscellaneous intermediation ($4,751) and Men's and boys' clothing merchant wholesalers ($4,489) round out the top 3 industries. Employees in the Miscellaneous intermediation ($4,751 per week) were paid $143 more per week, an increase of 3.1% and Men's and boys' clothing merchant wholesalers ($4,489 per week) were paid $3,449 more per week, an increase of 331.6% round out the 3 industries that pay their employees the most.Table: Top 7 Industries by Wage Change %
| Industry | Wkly Chg | % Change |
|---|---|---|
| Men's and boys' clothing merchant wholesalers | $3,449 | 331.6% |
| Dance companies | $521 | 111.1% |
| Satellite telecommunications | $1,142 | 69.6% |
| Consumer electronics and appliances rental | $611 | 67.4% |
| Soybean farming | $457 | 62.9% |
| Advertising material distribution services | $409 | 58.3% |
| Pipeline transportation of natural gas | $784 | 54.8% |
Table: Top 7 Industries by Wage Change $
| Industry | Wkly Chg | % Change |
|---|---|---|
| Men's and boys' clothing merchant wholesalers | $3,449 | 331.6% |
| Satellite telecommunications | $1,142 | 69.6% |
| All other wood product manufacturing | $834 | 41.0% |
| Pipeline transportation of natural gas | $784 | 54.8% |
| Investment advice | $761 | 9.7% |
| Mortgage and nonmortgage loan brokers | $720 | 49.0% |
| Investment banking and securities dealing | $623 | 19.3% |
Company Size
Maryland Businesses by Size
The solopreneur company, has the most businesses in Maryland by far. 61.3% of all businesses in the state have fewer than 5 employees. The 162,559 small businesses in the state represent 95.3% of all private businesses. The national average is 91.2%. (Small businesses have fewer than 50 employees, Solopreneurs employ fewer than 5.) Maryland added 1,346 businesses in the last year, an increase of 0.8% as compared to the national average of 3.0%.Small businesses are defined as companies with fewer than 50 employees. These small businesses added 1,299 businesses in the last year, which is an increase of 0.8% as compared to the national average of 3.1%.
Mid-sized businesses are defined as companies with between 50 and 499 employees. These mid-sized businesses added 47 businesses in the last year, which is an increase of 0.6% as compared to the national average of 1.3%.
Large businesses are defined as companies with more than 500 employees. These large businesses added 0 businesses in the last year, which is an increase of 0.0% as compared to the national average of 2.1%.
Maryland Employees by Business Size
Maryland added 69,265 employees in the last year, an increase of 3.3% as compared to the national average of 5.2%. Small businesses are defined as companies with fewer than 50 employees. These small businesses added 22,694 businesses in the last year, which is an increase of 16.2% as compared to the national average of 4.2%.Mid-sized businesses are defined as companies with between 50 and 499 employees. Mid-sized businesses added 37,369 employees in the last year, which is an increase of 4.5% as compared to the national average of 4.7%.
Large businesses are defined as companies with more than 500 employees. Large businesses added 9,202 employees in the last year, which is an increase of 3.1% as compared to the national average of 9.2%.
Maryland Avg Weekly Wages by Business Size
The smallest companies in Maryland (those with fewer than 5 employees) pay workers 18.2% more than the national average ($1,228 per week as compared to the national average of $1,005 per week). The largest companies in Maryland (those with more than 1,000 employees) pay 22.2% workers below the national average ($1,565 per week as compared to the national average of $1,913 per week).Average weekly wages in small businesses added $123 per week in the last year, which is an increase of 3.0% as compared to the national average of 3.1%. Employees of mid-sized businesses added $148 in wages per week in the last year, which is an increase of 4.1% as compared to the national average of 1.3%.
Employees of large businesses added $-58 of weekly wages in the last year, which is an increase of -1.8% as compared to the national average of 2.1%.
Top Industries for Business and Employment
The table below illustrates the largest industries in the state, by number of businesses:Table: Top 10 Industries by # of Businesses
| Industry | # Businesses | % Change |
|---|---|---|
| Restaurants and other eating places | 10,166 | 0.4% |
| Computer systems design and related services | 9,850 | 2.3% |
| Private households | 7,200 | -3.5% |
| Management consulting services | 5,875 | 0.0% |
| Offices of physicians | 4,816 | -1.8% |
| Residential building construction | 4,476 | -0.6% |
| Wholesale trade agents and brokers | 3,566 | -9.4% |
| Offices of lawyers | 3,011 | 0.0% |
| Accounting and bookkeeping services | 2,879 | 0.6% |
| Offices of dentists | 2,579 | -0.7% |
The table below illustrates the largest industries in the state, by number of employees:
Table: Top 10 Industries by # of Employees
| Industry | # Employees | % Change |
|---|---|---|
| Restaurants and other eating places | 184,725 | 0.5% |
| General medical and surgical hospitals | 99,695 | 0.4% |
| Computer systems design and related services | 80,338 | 2.9% |
| Offices of physicians | 54,526 | 2.6% |
| Supermarkets and other grocery stores | 48,749 | -0.8% |
| Temporary help services | 45,253 | -0.9% |
| Management consulting services | 36,609 | 2.6% |
| Engineering services | 34,610 | 3.4% |
| Department stores | 32,208 | 0.5% |
| Plumbing and hvac contractors | 30,468 | 1.4% |
The table below illustrates the largest industries in the state, by highest wages:
Table: Top 10 Industries by Weekly Wage
| Industry | Wkly Wages | % Change |
|---|---|---|
| Investment advice | $8,589 | 9.7% |
| Miscellaneous intermediation | $4,751 | 3.1% |
| Men's and boys' clothing merchant wholesalers | $4,489 | 331.6% |
| Portfolio management | $4,185 | 5.1% |
| Investment banking and securities dealing | $3,853 | 19.3% |
| Securities brokerage | $3,708 | 3.8% |
| Computer and software merchant wholesalers | $3,546 | 2.8% |
| Spectator sports | $3,155 | 2.7% |
| Other financial vehicles | $3,114 | -7.8% |
| All other financial investment activities | $2,921 | 10.7% |
Data Sources
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