- 3,131 more businesses
- 51,338 more employees
- 36.1% increase in total wages
- $10,736 in additional annual wages per employee
- 23.8% increase in wages per employee
Since 2009, the number of businesses in New Hampshire has grown by 6.8% (2.7% less than the national average of 9.5%). Employment in New Hampshire has grown by 9.9% (4.5% less than the national average of 14.4%). Wages have grown by 23.8% since the end of the Great Recession. This wage growth is 1.2% greater than the national average of 22.5%.
The average weekly wage in New Hampshire of $1,074 is 0.9% above the national average of $1,064. The gap between the national average has widened from even with the national average, a widening of 0.9% since the end of the recession.
The Professional services sector has the most businesses in the state of New Hampshire . Since the end of the recession, the number of businesses has grown from 5,842 to 6,930, a gain of 18.6%. The table below illustrates the change in number of businesses in each sector:
|Accommodation and food services||3,680||3,404||8.1%|
|Finance and insurance||2,381||2,200||8.2%|
|Real estate and rental||1,454||1,510||-3.7%|
|Transport and warehousing||932||940||-0.9%|
|Arts and entertainment||833||751||10.9%|
|Agriculture and forestry||282||262||7.6%|
|Mining and oil extraction||69||73||-5.5%|
Several sectors performed well with an increased number of businesses in the state since 2009. In addition to Professional services (mentioned above), Waste services businesses increased by 29.5%, Educational services increased by 17.8% and Company management increased by 53%. There were decreases in several sectors including Retail trade (-2.1%), Construction (-7.0%) and Manufacturing (-8.0%)
The Retail trade sector employs the most workers in the state of New Hampshire . The number of jobs has increased 2.8% since the end of the recession from 92,906 to 95,487. The table below illustrates the change in employment in each sector:
|Accommodation and food services||58,952||50,964||15.7%|
|Finance and insurance||26,846||26,989||-0.5%|
|Transport and warehousing||14,291||11,917||19.9%|
|Arts and entertainment||11,777||10,895||8.1%|
|Real estate and rental||7,048||7,069||-0.3%|
|Agriculture and forestry||2,008||1,757||14.3%|
|Mining and oil extraction||549||510||7.6%|
There was job growth in most sectors in New Hampshire with the exception of Finance and insurance (-0.5%), Real estate and rental (-0.3%) and Utilities (-17.5%). Growth was led by Accommodation and food services (+15.7%), Professional services (+28.6%) and Waste services (+38.4%).
The sector with the highest wages is the Utilities sector at $2,140. Prior to the recession, the sector’s average weekly wage was $1,687. This is an increase of $453 per week or 26.9%. The table below illustrates the change in average weekly wages in each sector:
|Finance and insurance||$1,943||$1,430||35.9%|
|Mining and oil extraction||$1,214||$1,008||20.4%|
|Real estate and rental||$1,026||$845||21.4%|
|Transport and warehousing||$846||$686||23.3%|
|Agriculture and forestry||$696||$555||25.4%|
|Arts and entertainment||$426||$362||17.7%|
|Accommodation and food services||$401||$324||23.8%|
Wage growth in New Hampshire was above the national average with most sectors having growth close to these averages. Company management and Finance and insurance had the highest growth with 43.4% and 35.9% respectively.
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 Office administrative services which has grown 82.3%. The top industry that has contracted the most is Residential building construction which has contracted by 17.3% 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||4,099||4,058||1.0%|
|Computer systems design and related services||2,367||1,613||46.7%|
|Office administrative services||999||548||82.3%|
|Management consulting services||992||826||20.1%|
|Residential building construction||916||1,108||-17.3%|
|Offices of physicians||764||762||0.3%|
|Automotive mechanical and electrical repair||712||634||12.3%|
|Accounting and bookkeeping services||711||643||10.6%|
|Temporary help services||707||410||72.4%|
The industry that has experienced the most growth in number of employees (as a percent) since the recession is Computer systems design and related services which has grown 80.4%. The industry that has lost the most employees is Electronic instrument manufacturing which has contracted by 1.5% 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||27,257||26,232||3.9%|
|Supermarkets and other grocery stores||19,645||19,309||1.7%|
|Offices of physicians||14,277||12,268||16.4%|
|Computer systems design and related services||11,996||6,651||80.4%|
|Colleges and universities||10,852||9,591||13.1%|
|Temporary help services||10,576||6,034||75.3%|
|Wholesale trade agents and brokers||9,350||8,382||11.5%|
|Management of companies and enterprises||8,942||8,040||11.2%|
|Electronic instrument manufacturing||7,996||8,117||-1.5%|
|Hotels and motels, except casino hotels||7,161||6,904||3.7%|
Since the recession ended, the industry that has experienced the greatest increase in average weekly pay per employee (as a percent) is All other financial investment activities which has grown 95.7%. The average weekly wage in the Software publishers industry has grown by 13.1% since the recession. This is the industry with the lowest wage growth among top industries in New Hampshire . The table below illustrates the 10 largest industries and their change in the average weekly wages since the recession:
|All other financial investment activities||$3,771||$1,927||95.7%|
|Computer and software merchant wholesalers||$2,744||$2,056||33.5%|
|Lessors of nonfinancial intangible assets||$2,521||$1,858||35.7%|
|Plastics materials merchant wholesalers||$2,491||$1,690||47.4%|
|Research and development in the physical, engineering, and life sciences||$2,465||$1,853||33.0%|
|Investment banking and securities dealing||$2,464||$1,752||40.6%|
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 500 to 999 employees. The number of businesses with this number of employees has grown from 36 to 44, which is an increase of 22.2%.
The smallest 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 not changed since 2009.
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||30,283||27,575||9.8%|
|More Than 1,000 Employees||17||17||0.0%|
The biggest percentage change in the number of employees has been in businesses with 500 to 999 employees. The number of employees in companies this size has grown from 24,008 to 30,308, which is an increase of 26.2%.
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 51,607 to 53,799, which is an increase of 4.2%.
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||47,306||43,515||8.7%|
|More Than 1,000 Employees||36,607||32,409||13.0%|
The biggest percentage change in the average weekly wage has been in businesses with 100 to 249 employees. The average weekly wage in companies this size has grown from $759 to $1,293, which is an increase of 70.4%.
The smallest 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 $1,246 to $1,485, which is an increase of 19.2%.
Table: Change Average Weekly Wage by Size Since the Recession:
|Company Size||Q1 2018||Q1 2010||% Change|
|Fewer than 5 Employees||$1,456||$966||50.7%|
|More Than 1,000 Employees||$1,618||$1,256||28.8%|
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.