Minnesota Business & Employment Growth Since 2009
- 10,362 more businesses
- 313,276 more employees
- 12.2% increase in total wages
- $12,677 increase in annual wages per employee
- 28.0% increase in wages per employee
Since 2009, the number of businesses in Minnesota has grown by 6.3% (5.2% less than the national average of 11.4%). Employment in Minnesota has grown by 12.2% (1.4% less than the national average of 13.6%). Wages have grown by 27.9% since the end of the Great Recession. This wage growth is 2.2% greater than the national average of 25.7%. The average weekly wage in Minnesota of $1,115 is 1.3% above the national average of $1,101. The gap between the national average has widened from 0.5% a widening of 1.7% since the end of the recession.
Sector Growth
Business Sector Growth
| Sector | 2018 | 2009 | Pct Chg |
|---|---|---|---|
| Professional services | 22,222 | 18,154 | 22.4% |
| Retail trade | 18,678 | 19,679 | -5.1% |
| Other services | 17,100 | 13,842 | 23.5% |
| Healthcare | 16,655 | 12,311 | 35.3% |
| Construction | 16,479 | 17,284 | -4.7% |
| Wholesale trade | 13,390 | 13,579 | -1.4% |
| Accommodation and food services | 12,057 | 11,262 | 7.1% |
| Finance and insurance | 9,600 | 9,954 | -3.6% |
| Manufacturing | 8,494 | 8,933 | -4.9% |
| Waste services | 8,315 | 7,889 | 5.4% |
| Real estate and rental | 6,293 | 6,919 | -9.0% |
| Transport and warehousing | 4,788 | 4,691 | 2.1% |
| Information | 3,969 | 3,337 | 18.9% |
| Arts and entertainment | 3,235 | 2,767 | 16.9% |
| Agriculture and forestry | 2,853 | 2,107 | 35.4% |
| Educational services | 2,551 | 1,886 | 35.3% |
| Company management | 1,463 | 1,200 | 21.9% |
| Utilities | 405 | 406 | -0.2% |
| Mining and oil extraction | 216 | 189 | 14.3% |
The sector that has had the strongest growth [in number of businesses] is the Healthcare sector, which has increased by 35.3% since 2009. The sector that has has the largest decline is the Retail trade sector, which has declined by 5.1% since the recession.
Employment Sector Growth
| Sector | 2018 | 2009 | Pct Chg |
|---|---|---|---|
| Healthcare | 474,286 | 391,502 | 21.1% |
| Manufacturing | 321,932 | 300,102 | 7.3% |
| Retail trade | 298,252 | 280,057 | 6.5% |
| Accommodation and food services | 227,171 | 200,178 | 13.5% |
| Professional services | 162,715 | 124,846 | 30.3% |
| Finance and insurance | 143,128 | 134,592 | 6.3% |
| Waste services | 134,338 | 112,582 | 19.3% |
| Wholesale trade | 131,028 | 126,300 | 3.7% |
| Construction | 121,610 | 93,431 | 30.2% |
| Transport and warehousing | 90,173 | 72,400 | 24.5% |
| Other services | 90,054 | 83,150 | 8.3% |
| Company management | 81,216 | 69,823 | 16.3% |
| Educational services | 52,150 | 43,013 | 21.2% |
| Information | 49,158 | 54,916 | -10.5% |
| Arts and entertainment | 46,029 | 37,951 | 21.3% |
| Real estate and rental | 35,142 | 35,956 | -2.3% |
| Agriculture and forestry | 21,762 | 17,943 | 21.3% |
| Utilities | 12,288 | 12,724 | -3.4% |
| Mining and oil extraction | 5,880 | 4,418 | 33.1% |
The sector that has had the strongest employment growth [in number of employees] is the Healthcare sector, which has increased by 21.1% since 2009. The sector that has has the largest employment decline in number of employees is the Information sector, which has declined by 10.5% since the recession.
Weekly Wage Growth By Sector
| Sector | 2018 | 2009 | Pct Chg |
|---|---|---|---|
| Company management | $2,448 | $1,824 | 34.2% |
| Utilities | $2,166 | $1,572 | 37.8% |
| Finance and insurance | $2,041 | $1,437 | 42.0% |
| Professional services | $1,822 | $1,388 | 31.3% |
| Mining and oil extraction | $1,779 | $1,223 | 45.5% |
| Wholesale trade | $1,623 | $1,283 | 26.5% |
| Information | $1,517 | $1,156 | 31.2% |
| Construction | $1,293 | $1,006 | 28.5% |
| Manufacturing | $1,290 | $1,031 | 25.1% |
| Real estate and rental | $1,013 | $843 | 20.2% |
| Transport and warehousing | $1,012 | $813 | 24.5% |
| Healthcare | $1,010 | $817 | 23.6% |
| Educational services | $809 | $707 | 14.4% |
| Waste services | $783 | $596 | 31.4% |
| Agriculture and forestry | $754 | $546 | 38.1% |
| Arts and entertainment | $701 | $517 | 35.6% |
| Other services | $658 | $512 | 28.5% |
| Retail trade | $591 | $463 | 27.6% |
| Accommodation and food services | $378 | $272 | 39.0% |
The sector that has had the strongest wage growth is the Company management sector, which has increased by 34.2% since 2009. The sector that has has the smallest wage growth is the Educational services sector, which has declined by 14.4% since the recession.
Industry Growth
Business Industry Growth
| Industry | 2018 | 2009 | Pct Chg |
|---|---|---|---|
| Computer systems design and related services | 5,834 | 4,076 | 43.1% |
| Private households | 4,660 | 2,308 | 101.9% |
| Residential building construction | 3,562 | 3,910 | -8.9% |
| Insurance agencies and brokerages | 3,229 | 3,237 | -0.2% |
| All other professional and technical services | 2,772 | 1,149 | 141.3% |
| Services for the elderly and disabled | 2,742 | 689 | 298.0% |
The top industry that has had the largest increase in the number of businesses is the Private households industry, which has increased by 101.9% 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 8.9% since the recession.
Employment Industry Growth
| Industry | 2018 | 2009 | Pct Chg |
|---|---|---|---|
| General medical and surgical hospitals | 110,948 | 94,265 | 17.7% |
| Management of companies and enterprises | 81,216 | 69,823 | 16.3% |
| Offices of physicians | 73,603 | 62,374 | 18.0% |
| Temporary help services | 54,441 | 38,198 | 42.5% |
| Supermarkets and other grocery stores | 46,630 | 42,661 | 9.3% |
| Commercial banking | 45,519 | 35,568 | 28.0% |
The top industry that has had the largest increase in the number of employees is the General medical and surgical hospitals industry, which has increased by 17.7% 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 9.3% since the recession.
Weekly Wage Growth By Industry
| Industry | 2018 | 2009 | Pct Chg |
|---|---|---|---|
| Miscellaneous intermediation | $5,739 | $3,533 | 62.4% |
| Securities and commodity exchanges | $4,819 | $1,502 | 220.8% |
| Commodity contracts dealing | $4,749 | $7,555 | -37.1% |
| Portfolio management | $3,920 | $3,414 | 14.8% |
| Spectator sports | $3,868 | $3,124 | 23.8% |
| Investment banking and securities dealing | $3,423 | $2,256 | 51.7% |
| Credit card issuing | $3,299 | $1,008 | 227.3% |
The top industry that has had the strongest wage growth is the Securities and commodity exchanges industry, which has increased by 220.8% since 2009. The top industry that has has the largest wage decline is the Commodity contracts dealing industry, which has declined by 37.1% 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 112 to 140, which is an increase of 25.0%.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 23,257 to 24,098, which is an increase of 3.6%.
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 | 102,570 | 93,244 | 10.0% |
| 5-9 Employees | 24,098 | 23,257 | 3.6% |
| 10-19 Employees | 18,592 | 17,544 | 6.0% |
| 20-49 Employees | 13,525 | 11,371 | 18.9% |
| 50-99 Employees | 4,750 | 4,141 | 14.7% |
| 100-249 Employees | 2,701 | 2,403 | 12.4% |
| 250-499 Employees | 766 | 641 | 19.5% |
| 500-999 Employees | 251 | 219 | 14.6% |
| More Than 1,000 Employees | 140 | 112 | 25.0% |
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 244,780 to 318,668, which is an increase of 30.2%.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 153,798 to 161,197, which is an increase of 4.8%.
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 | 135,867 | 124,818 | 8.9% |
| 5-9 Employees | 161,197 | 153,798 | 4.8% |
| 10-19 Employees | 251,698 | 236,088 | 6.6% |
| 20-49 Employees | 406,381 | 341,113 | 19.1% |
| 50-99 Employees | 326,602 | 282,378 | 15.7% |
| 100-249 Employees | 403,691 | 360,226 | 12.1% |
| 250-499 Employees | 258,114 | 217,298 | 18.8% |
| 500-999 Employees | 169,534 | 148,967 | 13.8% |
| More Than 1,000 Employees | 318,668 | 244,780 | 30.2% |
Weekly Wage Growth by Company Size
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 $1,435 to $2,088, which is an increase of 45.5%.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 $762 to $918, which is an increase of 20.5%.
Table: Change Average Weekly Wage by Size Since the Recession:
| Company Size | Q1 2018 | Q1 2010 | % Change |
|---|---|---|---|
| Fewer than 5 Employees | $1,039 | $742 | 40.0% |
| 5-9 Employees | $849 | $643 | 32.0% |
| 10-19 Employees | $843 | $639 | 31.9% |
| 20-49 Employees | $918 | $762 | 20.5% |
| 50-99 Employees | $1,086 | $825 | 31.6% |
| 100-249 Employees | $1,110 | $848 | 30.9% |
| 250-499 Employees | $1,284 | $1,002 | 28.1% |
| 500-999 Employees | $1,456 | $1,171 | 24.3% |
| More Than 1,000 Employees | $2,088 | $1,435 | 45.5% |
Data Sources
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