- 2,963 more businesses
- 55,908 more employees
- 22.4% increase in total wages
- $4,886 in additional annual wages per employee
- 14.8% increase in wages per employee
Since 2009, the number of businesses in Mississippi has grown by 4.5% (5.0% less than the national average of 9.5%). Employment in Mississippi has grown by 6.7% (7.8% less than the national average of 14.4%). Wages have grown by 14.8% since the end of the Great Recession. This wage growth is 7.8% less than the national average of 22.5%.
The average weekly wage in Mississippi of $729 is 31.5% below the national average of $1,064. The gap between the national average has widened from 26.7% a widening of 4.8% since the end of the recession.
The Retail trade sector has the most businesses in the state of Mississippi . Since the end of the recession, the number of businesses has grown from 11,479 to 11,621, a gain of 1.2%. The table below illustrates the change in number of businesses in each sector:
|Accommodation and food services||5,639||5,003||12.7%|
|Finance and insurance||5,049||4,739||6.5%|
|Real estate and rental||2,805||2,790||0.5%|
|Transport and warehousing||2,679||2,491||7.5%|
|Agriculture and forestry||1,681||1,767||-4.9%|
|Arts and entertainment||742||685||8.3%|
|Mining and oil extraction||487||508||-4.1%|
The larger sectors that added a significant number of businesses since 2009 are the Professional services sector (+21.5%) and the Waste services sector (+22.9%). The sector with the 4th most businesses, Construction lost 10.9% of its businesses since the end of the recession.
The Manufacturing sector employs the most workers in the state of Mississippi . The number of jobs has increased 2.1% since the end of the recession from 141,130 to 144,047. The table below illustrates the change in employment in each sector:
|Accommodation and food services||125,034||107,797||16.0%|
|Transport and warehousing||46,445||37,290||24.6%|
|Finance and insurance||31,354||33,141||-5.4%|
|Agriculture and forestry||12,273||12,881||-4.7%|
|Real estate and rental||11,627||11,875||-2.1%|
|Arts and entertainment||9,579||12,085||-20.7%|
|Mining and oil extraction||4,088||5,706||-28.4%|
The number of employees in all 6 sectors that employ the most grew since the end of the recession. The Construction sector (-15.4%), Finance and insurance sector (-5.4%) and Information sector (-9.5%) all lost employees since 2009.
The sector with the highest wages is the Company management sector at $1,616. Prior to the recession, the sector’s average weekly wage was $1,313. This is an increase of $303 per week or 23.1%. The table below illustrates the change in average weekly wages in each sector:
|Mining and oil extraction||$1,422||$1,215||17.0%|
|Finance and insurance||$1,099||$865||27.1%|
|Transport and warehousing||$818||$710||15.2%|
|Agriculture and forestry||$697||$528||32.0%|
|Real estate and rental||$677||$548||23.5%|
|Arts and entertainment||$350||$400||-12.5%|
|Accommodation and food services||$325||$297||9.4%|
Wage growth in Mississippi has lagged the national average by 7.8%, a significant amount. The sector with the 4th most workers (Accommodation and food services) had an average wage increase of only 9.4% and sector with the 3rd most employees (Healthcare) increased wages by only 8.7%. The sectors that have the highest average weekly wages employ relatively few workers. Company management (see above), Utilities and Mining and oil extraction have the 3 highest wages and are 3 of the bottom 4 in number of employees.
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 116.5%. The top industry that has contracted the most is Private households which has contracted by 22.3% 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:
|Wholesale trade agents and brokers||2,175||1,796||21.1%|
|Gasoline stations with convenience stores||2,034||1,947||4.5%|
|Offices of physicians||1,704||1,729||-1.4%|
|Computer systems design and related services||1,563||722||116.5%|
|Offices of lawyers||1,500||1,566||-4.2%|
|Insurance agencies and brokerages||1,448||1,184||22.3%|
|Accounting and bookkeeping services||1,083||1,058||2.4%|
|Temporary help services||1,028||613||67.7%|
The industry that has experienced the most growth in number of employees (as a percent) since the recession is Temporary help services which has grown 90.0%. The industry that has lost the most employees is Casino hotels which has contracted by 9.5% 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||26,844||28,097||-4.5%|
|Temporary help services||26,717||14,061||90.0%|
|Offices of physicians||20,690||19,628||5.4%|
|Nursing care facilities, skilled nursing||17,574||16,454||6.8%|
|Animal slaughtering and processing||17,472||17,544||-0.4%|
|Supermarkets and other grocery stores||16,823||16,109||4.4%|
|Other household and institutional furniture||15,932||14,774||7.8%|
|Gasoline stations with convenience stores||13,217||13,527||-2.3%|
|General warehousing and storage||12,920||8,125||59.0%|
Since the recession ended, the industry that has experienced the greatest increase in average weekly pay per employee (as a percent) is Open-end investment funds which has grown 375.7%. The average weekly wage in the Plastics materials merchant wholesalers industry has grown by 11.5% since the recession. This is the industry with the lowest wage growth among top industries in Mississippi . The table below illustrates the 10 largest industries and their change in the average weekly wages since the recession:
|Open-end investment funds||$2,702||$568||375.7%|
|Druggists’ goods merchant wholesalers||$2,096||$1,682||24.6%|
|Electric power generation||$2,069||$1,697||21.9%|
|Iron and steel mills and ferroalloy mfg.||$1,946||$1,551||25.5%|
|Pipeline transportation of natural gas||$1,804||$1,453||24.2%|
|Plastics materials merchant wholesalers||$1,774||$1,591||11.5%|
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 250 to 499 employees. The number of businesses with this number of employees has grown from 215 to 255, which is an increase of 18.6%.
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 declined from 83 to 81, which is a decrease of 2.4%.
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||39,755||36,440||9.1%|
|More Than 1,000 Employees||35||33||6.1%|
The biggest percentage change in the number of employees has been in businesses with 250 to 499 employees. The number of employees in companies this size has grown from 71,926 to 86,521, which is an increase of 20.3%.
The worst percentage change in the number of employees has been in businesses with fewer than 5 employees. The number of employees with this number of employees has declined from 62,630 to 61,662, which is a decrease of 1.5%.
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||61,662||62,630||-1.5%|
|More Than 1,000 Employees||69,410||65,233||6.4%|
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 $602 to $811, which is an increase of 34.7%.
The smallest percentage change in the average weekly wage has been in businesses with 50 to 99 employees. The average weekly wage in companies this size has grown from $599 to $705, 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||$811||$602||34.7%|
|More Than 1,000 Employees||$940||$776||21.1%|
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.