- 4,054 more businesses
- 185,158 more employees
- 35.7% increase in total wages
- $5,861 in additional annual wages per employee
- 14.3% increase in wages per employee
Since 2009, the number of businesses in Nevada has grown by 5.5% (4.0% less than the national average of 9.5%). Employment in Nevada has grown by 18.8% (4.3% greater than the national average of 14.4%). Wages have grown by 14.3% since the end of the Great Recession. This wage growth is 8.3% less than the national average of 22.5%.
The average weekly wage in Nevada of $904 is 15.0% below the national average of $1,064. The gap between the national average has widened from 8.9% a widening of 6.2% since the end of the recession.
The Professional services sector has the most businesses in the state of Nevada. Since the end of the recession, the number of businesses has grown from 9,780 to 11,271, a gain of 15.2%. The table below illustrates the change in number of businesses in each sector:
|Accommodation and food services||6,514||5,951||9.5%|
|Finance and insurance||4,441||5,347||-16.9%|
|Real estate and rental||4,416||4,348||1.6%|
|Transport and warehousing||2,120||1,984||6.9%|
|Arts and entertainment||1,732||1,499||15.5%|
|Agriculture and forestry||367||276||33.0%|
|Mining and oil extraction||246||276||-10.9%|
Several sectors had some significant contraction since the recession with Construction losing 21.3% of its businesses, Wholesale trade losing 4.9% and Finance and insurance losing 16.9%. The 5 sectors with the most businesses all grew. Professional services (+15.2%), Retail trade (+3.4%), Healthcare (+15.2%), Accommodation and food services (+9.5%) and Waste services (+13.7%) all grew since the recession ended in 2009.
The Accommodation and food services sector employs the most workers in the state of Nevada . The number of jobs has increased 12.8% since the end of the recession from 281,772 to 317,710. The table below illustrates the change in employment in each sector:
|Accommodation and food services||317,710||281,772||12.8%|
|Transport and warehousing||62,231||45,379||37.1%|
|Finance and insurance||35,061||32,754||7.0%|
|Arts and entertainment||31,178||26,280||18.6%|
|Real estate and rental||26,314||22,778||15.5%|
|Mining and oil extraction||14,166||11,622||21.9%|
|Agriculture and forestry||3,736||2,263||65.1%|
The only sector in Nevada that lost jobs since 2009 is the Utility sector, which lost 10.5% of its jobs. Several sectors had significant employment growth since the recession with Healthcare adding 33.9%, Waste services adding 45.3% and Company management adding 41.0% to their employee base.
The sector with the highest wages is the Company management sector at $2,372. Prior to the recession, the sector’s average weekly wage was $1,910. This is an increase of $462 per week or 24.2%. The table below illustrates the change in average weekly wages in each sector:
|Mining and oil extraction||$1,826||$1,513||20.7%|
|Finance and insurance||$1,448||$1,065||36.0%|
|Real estate and rental||$940||$746||26.0%|
|Transport and warehousing||$899||$732||22.8%|
|Agriculture and forestry||$726||$583||24.5%|
|Arts and entertainment||$680||$571||19.1%|
|Accommodation and food services||$631||$561||12.5%|
Wage increases in the state grew 8.9% slower than the national average. One sector had a decrease in average weekly wages. Wages in the Construction sector declined 1% from an average of $1,128 per week to $1,117. Several industries that are either large or added a lot of employees (or both) had either slow growth, like Healthcare, which had average pay increase 10.0% or Waste services, which has the 2nd lowest pay in the state at $630 per week. This was an increase of only 9.6% since 2009.
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 48.9%. The top industry that has contracted the most is Wholesale trade agents and brokers which has contracted by 4.1% 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||2,879||3,002||-4.1%|
|Computer systems design and related services||2,447||1,643||48.9%|
|Offices of physicians||2,409||2,362||2.0%|
|Management of companies and enterprises||1,983||1,883||5.3%|
|Management consulting services||1,727||1,429||20.9%|
|Offices of lawyers||1,680||1,622||3.6%|
|Accounting and bookkeeping services||1,499||1,313||14.2%|
|Offices of real estate agents and brokers||1,401||1,437||-2.5%|
|Insurance agencies and brokerages||1,274||1,296||-1.7%|
|Offices of dentists||1,165||1,099||6.0%|
The industry that has experienced the most growth in number of employees (as a percent) since the recession is Telephone call centers which has grown 222.1%. The industry that has lost the most employees is Casino hotels which has contracted by 1.3% 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||27,155||19,694||37.9%|
|Management of companies and enterprises||25,220||17,886||41.0%|
|Temporary help services||21,383||14,179||50.8%|
|Offices of physicians||20,229||16,302||24.1%|
|Supermarkets and other grocery stores||19,760||18,077||9.3%|
|General warehousing and storage||17,982||8,451||112.8%|
|Hotels and motels, except casino hotels||16,119||12,835||25.6%|
|Telephone call centers||14,348||4,455||222.1%|
Since the recession ended, the industry that has experienced the greatest increase in average weekly pay per employee (as a percent) is Spectator sports which has grown 182.1%. The average weekly wage in the Electric power generation industry has grown by 22.2% since the recession. This is the industry with the lowest wage growth among top industries in Nevada . The table below illustrates the 10 largest industries and their change in the average weekly wages since the recession:
|Investment banking and securities dealing||$5,320||$3,419||55.6%|
|Computer and software merchant wholesalers||$2,621||$1,987||31.9%|
|Electric power generation||$2,420||$1,981||22.2%|
|Management of companies and enterprises||$2,372||$1,910||24.2%|
|Wholesale trade agents and brokers||$2,360||$1,680||40.5%|
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 100 to 249 employees. The number of businesses with this number of employees has grown from 850 to 1,210, which is an increase of 42.4%.
The smallest percentage change in the number of businesses has been in businesses with fewer than 5 employees. The number of businesses with this number of employees has grown from 44,536 to 46,902, which is an increase of 5.3%.
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||46,902||44,536||5.3%|
|More Than 1,000 Employees||83||73||13.7%|
The biggest percentage change in the number of employees has been in businesses with 100 to 249 employees. The number of employees in companies this size has grown from 122,484 to 174,760, which is an increase of 42.7%.
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 77,372 to 87,687, which is an increase of 13.3%.
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||71,647||62,650||14.4%|
|More Than 1,000 Employees||194,151||168,348||15.3%|
The biggest percentage change in the average weekly wage has been in businesses with 500 to 999 employees. The average weekly wage in companies this size has grown from $796 to $1,101, which is an increase of 38.3%.
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 $741 to $875, which is an increase of 18.1%.
Table: Change Average Weekly Wage by Size Since the Recession:
|Company Size||Q1 2018||Q1 2010||% Change|
|Fewer than 5 Employees||$1,244||$918||35.5%|
|More Than 1,000 Employees||$1,047||$778||34.6%|