Mississippi Q4, 2019 Employment Statistics- 75,071 employers, up 0.6% from 74,636
- 1,143,104 employees, up 0.0% from 1,142,788
- $818 average weekly wage, up 3.2% from $793
- The average weekly wage is 31.0% below the national average
- The cost of living is 13.9% below the national average
Employer & Employee Growth
In the last year, the number of employers in the state increased by 435, which is an increase of 0.6%. The number of employees in Mississippi increased by 316, an increase of 0.0%. During this same period, the average weekly wage increased by $25, an increase of 3.2%.
The number of private employers increased since last years' Q1. The number of private businesses increased by 341 or 0.5%. Growth in private businesses in Mississippi grew slower than the national average of 2.5%. The number of employees in these businesses decreased since last years' Q1, declining by 1,256 or 0.1%. The growth in employees of private businesses in Mississippi 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 $24 or 3.1%. Growth in average weekly wage of employees of private businesses in Mississippi 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 Retail trade with 15.4% of the businesses in the state. The number of businesses in this sector declined by 1.6%. Professional services (10.4%), which increased by 3.0% and Healthcare (9.2%), which increased by 0.5%, round out the 3 largest sectors.
Table: Sectors by Year-over-Year Qtly Business Change %
| Sector | Change Biz | % Change |
|---|---|---|
| Professional services | 229 | 3.0% |
| Accommodation and food services | 121 | 2.1% |
| Information | 20 | 2.1% |
| Educational services | 11 | 1.5% |
| Company management | 9 | 1.4% |
| Transport and warehousing | 40 | 1.4% |
| Waste services | 51 | 1.2% |
| Real estate and rental | 26 | 0.9% |
| Healthcare | 34 | 0.5% |
| Finance and insurance | 20 | 0.4% |
| Construction | 20 | 0.3% |
| Wholesale trade | -3 | -0.1% |
| Other services | -11 | -0.2% |
| Utilities | -2 | -0.4% |
| Manufacturing | -12 | -0.5% |
| Arts and entertainment | -4 | -0.5% |
| Agriculture and forestry | -8 | -0.5% |
| Retail trade | -186 | -1.6% |
| Mining and oil extraction | -14 | -3.0% |
Employees by Sector
The sector with the greatest number of employees in the state is Manufacturing with 12.9% of the employees in the state, had an increase in employees of 1.2% in the last year. Retail trade (12.0%), decreased by 2.0% and Healthcare (11.9%), increased by 1.2%, round out the top 3 sectors.Table: Sectors by Year-over-Year Qtly Employee Change %
| Sector | Employee Change | % Change |
|---|---|---|
| Arts and entertainment | 458 | 5.2% |
| Transport and warehousing | 2,111 | 4.2% |
| Construction | 1,119 | 2.5% |
| Professional services | 524 | 1.7% |
| Manufacturing | 1,702 | 1.2% |
| Healthcare | 1,581 | 1.2% |
| Accommodation and food services | 1,415 | 1.1% |
| Real estate and rental | 32 | 0.3% |
| Finance and insurance | 1 | 0.0% |
| Wholesale trade | -63 | -0.2% |
| Utilities | -52 | -0.7% |
| Other services | -201 | -0.9% |
| Educational services | -159 | -1.4% |
| Retail trade | -2,783 | -2.0% |
| Agriculture and forestry | -371 | -2.9% |
| Information | -445 | -4.1% |
| Company management | -555 | -4.7% |
| Waste services | -5,209 | -7.2% |
| Mining and oil extraction | -358 | -8.9% |
Average Weekly Wage by Sector
The sector that pays their employees the highest is Company management paying $1,762per week compared with the state average of $804. Weekly wages in this sector rose by $69 or 4.1%. Mining and oil extraction ($1,585), rose by $126 or 8.6% and Utilities ($1,568) increased by $4 or 0.3% round out the 3 largest sectors.Table: Sectors by Year-over-Year Weekly Wage Change %
| Sector | Wage Change | Change % |
|---|---|---|
| Mining and oil extraction | $126 | 8.6% |
| Agriculture and forestry | $55 | 6.9% |
| Other services | $44 | 6.4% |
| Waste services | $30 | 5.7% |
| Company management | $69 | 4.1% |
| Finance and insurance | $48 | 4.0% |
| Wholesale trade | $44 | 3.7% |
| Real estate and rental | $25 | 3.4% |
| Retail trade | $17 | 3.3% |
| Manufacturing | $28 | 2.9% |
| Transport and warehousing | $21 | 2.5% |
| Healthcare | $16 | 1.9% |
| Construction | $20 | 1.9% |
| Arts and entertainment | $7 | 1.8% |
| Accommodation and food services | $4 | 1.1% |
| Professional services | $14 | 1.1% |
| Educational services | $7 | 1.0% |
| Utilities | $4 | 0.3% |
| Information | $2 | 0.2% |
Leading Industries
Businesses by Industry
Each broad sector is made up of specific industries. In Mississippi. the industry with the most businesses is Restaurants and other eating places with 6.2% of the businesses in the state (with 4,663 employing 90,850 workers). The Restaurants and other eating places industry had 113 more businesses, an increase of 2.5% in the last year. Gasoline stations with convenience stores (2.8% of businesses) had 1 fewer businesses, a decline of 0.0% and Computer systems design and related services (2.4% of businesses) added 71 businesses, an increase of 4.2% round out the 3 industries with the most businesses.Table: Top 7 Industries by Business Change %
| Industry | Business Chg | % Change |
|---|---|---|
| Footwear merchant wholesalers | 3 | 100.0% |
| Credit bureaus | 3 | 75.0% |
| Toy and hobby goods merchant wholesalers | 3 | 75.0% |
| Other activities related to real estate | 19 | 59.4% |
| Agents and managers for public figures | 2 | 50.0% |
| Other support activities for transportation | 3 | 50.0% |
| Fishing | 4 | 40.0% |
Table: Top 7 Industries by Business Change #
| Industry | Business Chg | % Change |
|---|---|---|
| Restaurants and other eating places | 113 | 2.5% |
| Computer systems design and related services | 71 | 4.2% |
| Accounting and bookkeeping services | 62 | 5.7% |
| Temporary help services | 45 | 4.0% |
| Other outpatient care centers | 40 | 17.5% |
| Druggists' goods merchant wholesalers | 35 | 15.6% |
| Medical equipment merchant wholesalers | 32 | 11.5% |
Employees by Industry
Gasoline stations with convenience stores (2.8% of employees) had 1 fewer employees, a decline of 0.0% and Computer systems design and related services (2.4% ofemployees) added 71 employees, an increase of 4.2% round out the 3 industries with the most employees.Table: Top 7 Industries by Employee Change %
| Industry | Emp Chg | % Change |
|---|---|---|
| Other basic inorganic chemical manufacturing | 94 | 137.5% |
| Agents and managers for public figures | 4 | 72.8% |
| Financial transaction processing and clearing | 73 | 65.4% |
| Forging and stamping | 177 | 63.6% |
| Wiring device manufacturing | 74 | 62.3% |
| Independent artists writers and performers | 37 | 61.6% |
| Food crops grown under cover | 5 | 58.3% |
Table: Top 7 Industries by Employee Change #
| Industry | Emp Chg | % Change |
|---|---|---|
| Restaurants and other eating places | 1,813 | 2.0% |
| Services for the elderly and disabled | 908 | 8.9% |
| Other support activities for air transport. | 626 | 57.0% |
| Hotels and motels except casino hotels | 596 | 6.1% |
| Other specialized trucking long-distance | 566 | 18.7% |
| Computer systems design and related services | 481 | 8.9% |
| General warehousing and storage | 461 | 3.1% |
Average Weekly Wage by Industry
The industry that pays their employees the most is Investment banking and securities dealing, paying $4,477 compared with the state average of $804. Employees in the Investment banking and securities dealing industry were paid $1,840 more per week, an increase of 69.8% in the last year. Miscellaneous intermediation ($4,090) and Coal and other mineral merchant wholesalers ($4,076) round out the top 3 industries. Employees in the Miscellaneous intermediation ($4,090 per week) were paid $66 more per week, an increase of 1.6% and Coal and other mineral merchant wholesalers ($4,076 per week) were paid $635 more per week, an increase of 18.5% round out the 3 industries that pay their employees the most.Table: Top 7 Industries by Wage Change %
| Industry | Wkly Chg | % Change |
|---|---|---|
| Financial transaction processing and clearing | $1,507 | 122.2% |
| Other gambling industries | $318 | 113.6% |
| Parking lots and garages | $214 | 82.9% |
| Tour operators | $411 | 78.3% |
| Investment banking and securities dealing | $1,840 | 69.8% |
| Vegetable and melon farming | $235 | 50.9% |
| Other durable goods merchant wholesalers | $487 | 48.5% |
Table: Top 7 Industries by Wage Change $
| Industry | Wkly Chg | % Change |
|---|---|---|
| Investment banking and securities dealing | $1,840 | 69.8% |
| Financial transaction processing and clearing | $1,507 | 122.2% |
| Open-end investment funds | $711 | 24.7% |
| Coal and other mineral merchant wholesalers | $635 | 18.5% |
| Photographic equip. merchant wholesalers | $495 | 34.9% |
| Other durable goods merchant wholesalers | $487 | 48.5% |
| Mortgage and nonmortgage loan brokers | $465 | 29.3% |
Company Size
Mississippi Businesses by Size
The solopreneur company, has the most businesses in Mississippi by far. 57.1% of all businesses in the state have fewer than 5 employees. The 67,461 small businesses in the state represent 95.7% of all private businesses. The national average is 91.2%. (Small businesses have fewer than 50 employees, Solopreneurs employ fewer than 5.) Mississippi added 1,359 businesses in the last year, an increase of 2.0% as compared to the national average of 3.0%.Small businesses are defined as companies with fewer than 50 employees. These small businesses added 1,354 businesses in the last year, which is an increase of 2.0% 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 2 businesses in the last year, which is an increase of 0.1% as compared to the national average of 1.3%.
Large businesses are defined as companies with more than 500 employees. These large businesses added 3 businesses in the last year, which is an increase of 2.6% as compared to the national average of 2.1%.
Mississippi Employees by Business Size
Mississippi added 23,461 employees in the last year, an increase of 2.7% as compared to the national average of 5.2%. Small businesses are defined as companies with fewer than 50 employees. These small businesses added 10,952 businesses in the last year, which is an increase of 19.4% 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 3,290 employees in the last year, which is an increase of 1.0% as compared to the national average of 4.7%.
Large businesses are defined as companies with more than 500 employees. Large businesses added 9,219 employees in the last year, which is an increase of 7.8% as compared to the national average of 9.2%.
Mississippi Avg Weekly Wages by Business Size
Mississippi workers in every size business are paid less than the national average. The smallest companies in Mississippi (those with fewer than 5 employees) pay workers 22.0% less than the national average ($824 per week as compared to the national average of $1,005 per week). The largest companies in Mississippi (those with more than 1,000 employees) pay 103.7% workers below the national average ($939 per week as compared to the national average of $1,913 per week).Average weekly wages in small businesses added $63 per week in the last year, which is an increase of 2.2% as compared to the national average of 3.1%. Employees of mid-sized businesses added $22 in wages per week in the last year, which is an increase of 1.0% as compared to the national average of 1.3%.
Employees of large businesses added $34 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 | 4,663 | 2.5% |
| Gasoline stations with convenience stores | 2,090 | 0.0% |
| Computer systems design and related services | 1,778 | 4.2% |
| Offices of physicians | 1,731 | -0.9% |
| Offices of lawyers | 1,510 | 0.5% |
| Insurance agencies and brokerages | 1,500 | 0.3% |
| Temporary help services | 1,176 | 4.0% |
| Accounting and bookkeeping services | 1,157 | 5.7% |
| General merchandise stores including warehouse clubs and supercenters | 1,051 | -1.0% |
| Commercial banking | 1,042 | 0.0% |
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 | 90,850 | 2.0% |
| General merchandise stores including warehouse clubs and supercenters | 29,536 | -2.6% |
| General medical and surgical hospitals | 26,604 | -0.9% |
| Temporary help services | 26,203 | -16.2% |
| Offices of physicians | 21,742 | 1.5% |
| Animal slaughtering and processing | 17,936 | 0.4% |
| Casino hotels | 17,882 | -4.3% |
| Nursing care facilities skilled nursing | 17,498 | -0.4% |
| Other household and institutional furniture | 15,649 | -0.2% |
| Supermarkets and other grocery stores | 15,642 | -4.0% |
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 banking and securities dealing | $4,477 | 69.8% |
| Miscellaneous intermediation | $4,090 | 1.6% |
| Coal and other mineral merchant wholesalers | $4,076 | 18.5% |
| Open-end investment funds | $3,588 | 24.7% |
| Securities brokerage | $2,961 | 0.3% |
| Financial transaction processing and clearing | $2,740 | 122.2% |
| Druggists' goods merchant wholesalers | $2,571 | 6.2% |
| Independent artists writers and performers | $2,485 | -34.4% |
| Portfolio management | $2,471 | 16.4% |
| Crude petroleum extraction | $2,284 | 12.5% |
Data Sources
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