New York Employment Statistics
85.0% of employees work for a private company. This is 0.2% below the national average of 85.2%. Local government agencies employ 11.4% of the workers in the state, state government agencies employ 2.4% of the workers and the federal government employs 1.2%. The percentage of employees working for a government agency (15.0%) is 0.2% higher than the national average. The chart below illustrates the breakout of employees by type of employer.
- 642,447 employers
- 9,431,889 employees
- $1,402 average weekly wage
- The average weekly wage is 27.3% above the national average
- The cost of living is 35.7% above the national average
Types of Employers (Private Sector vs Government Agency)
As an employer in New York, you are most likely to be running a private company rather than a government agency. 97.5% of employers run private companies in the state, BIGGER0.5% greater than the national average of 97.0. The remaining 2.5% of employers are government agencies: 0.4% work in a federal agency, 0.6% work for the state and 1.5% work for local government. The chart below illustrates the breakout of employers by type.
The average weekly wage in New York is $1,402 per week, which is 27.3% less than the national average of $1,101 per week. New York workers that are employed by private businesses earn $1,413 per week, 28.5% greater than the national average for private company employees. Employees of federal government agencies in New York earn $1,568 per week, a premium of 11.0% compared to what employees of private companies earn. The chart below illustrates the average weekly by type of employer.
Businesses by SectorThe sector with the greatest number of businesses in the state is Retail trade with 11.7% of the businesses in the state. Other services (11.4%) and Professional services (11.1%) round out the top 3 sectors.
Table: Sectors by # of Businesses
|Sector||# Businesses||% of Bus.|
|Accommodation and food services||53,548||8.3%|
|Real estate and rental||34,935||5.4%|
|Finance and insurance||29,313||4.6%|
|Arts and entertainment||12,580||2.0%|
|Transport and warehousing||12,490||1.9%|
|Agriculture and forestry||2,676||0.4%|
|Mining and oil extraction||373||0.1%|
Employees by Sector
The sector with the greatest number of employees in the state is Healthcare
with 16.5% of the employees in the state. Retail trade
(9.9%) and Accommodation and food services
(8.3%) round out the top 3 sectors.
Table: Sectors by # of Employees
|Sector||# Employees||% of Emp'|
|Accommodation and food services||779,379||8.3%|
|Finance and insurance||513,393||5.4%|
|Transport and warehousing||255,928||2.7%|
|Real estate and rental||200,802||2.1%|
|Arts and entertainment||177,490||1.9%|
|Agriculture and forestry||27,054||0.3%|
|Mining and oil extraction||4,724||0.1%|
Average Weekly Wage by Sector
The sector that pays their employees the highest is Finance and insurance
paying $4,442per week compared with the state average of $1,413. Company management
($2,911) and Information
($2,498) round out the top 3 sectors.
Table: Wages by Sector
|Sector||Wkly Wage||vs St Avg.|
|Finance and insurance||$4,442||314.4%|
|Real estate and rental||$1,428||101.1%|
|Mining and oil extraction||$1,309||92.6%|
|Arts and entertainment||$1,058||74.9%|
|Transport and warehousing||$1,008||71.3%|
|Agriculture and forestry||$701||49.6%|
|Accommodation and food services||$557||39.4%|
Businesses by Industry
Each broad sector is made up of specific industries. In New York. the industry with the most businesses is Restaurants and other eating places
with 6.8% of the businesses in the state (with 43,500 employing 589,295 workers). Unclassified
(5.9%) and Private households
(3.3%) round out the top 3 industries. The Top 10 Industries in the state are:
|Restaurants and other eating places||43,500||13.5|
|Offices of physicians||15,874||10.1|
|Residential building construction||15,435||4.0|
|Computer systems design and related services||13,739||8.2|
|Lessors of residential buildings||13,455||4.8|
|Offices of lawyers||12,986||9.1|
|Hair nail and skin care services||11,122||4.9|
|Management consulting services||10,760||6.5|
Employees by Industry
The industry with the greatest number of employees in the state is Restaurants and other eating places
with 6.2% of the businesses in the state. The industry employs 589,295 in 43,500 businesses, there are 13.5 employees on average in each of these businesses. General medical and surgical hospitals
(3.8%) and Home health care services
(2.5%) round out the top 3 industries.
Table: Industries by # of Employees
|Restaurants and other eating places||589,295||13.5|
|General medical and surgical hospitals||353,950||1,499.8|
|Home health care services||233,379||201.4|
|Colleges and universities||189,326||374.2|
|Supermarkets and other grocery stores||167,346||19.9|
|Services for the elderly and disabled||163,424||55.1|
|Offices of physicians||160,452||10.1|
|Management of companies and enterprises||144,373||38.0|
|Nursing care facilities skilled nursing||121,491||179.2|
|Offices of lawyers||118,035||9.1|
Average Weekly Wage by Industry
The industry that pays their employees the most is Portfolio management
, paying $8,950 compared with the state average of $1,413. Securities brokerage
($7,698) and Investment banking and securities dealing
($6,996) round out the top 3 industries.
Table: Wages by Industry
|Industry||Wkly Wage||% of Avg|
|Investment banking and securities dealing||$6,996||495.1|
|Commodity contracts dealing||$5,098||360.8|
|Coal and other mineral merchant wholesalers||$5,074||359.1|
|Commodity contracts brokerage||$4,974||352.0|
|Open-end investment funds||$4,776||338.0|
New York Businesses by Size
company, has the most businesses in New York by far. 65.0% of all businesses in the state have fewer than 5 employees. The 608,661 small businesses in the state represent 96.1% of all private businesses. The national average is 92.6%. (Small businesses have fewer than 50 employees, Solopreneurs employ fewer than 5.) The pie chart below illustrates the ratio of business sizes.
New York Employees by Business Size
The largest companies in the state represent 191.3% of all employees, which is 52.8% higher than the national average of 138.4%. Interestingly, the smallest companies in the state employ a higher percentage than the largest companies, this is not typical. The solopreneur (those that employ fewer than 5) companies employ 96.7% of all workers, which is 5.2% higher than the national average of 91.5%. All small companies, those employing fewer than 50 people, represent 520.0% of the labor force in the state, 30.0% less than the national average of 550.0%.
New York Avg Weekly Wages by Business Size
The smallest companies in New York (those with fewer than 5 employees) pay workers 0.3% more than the national average ($978 per week as compared to the national average of $975 per week). The largest companies in New York (those with more than 1,000 employees) pay 34.1% workers above the national average ($2,856 per week as compared to the national average of $1,882 per week).
About the Writer
This page was created and is maintained by Kurt Tietjen, Founder of Stavera, High Peak Media & HomeGearWorks.com. Kurt is an executive, data scientist and software engineer who holds an MBA in Management Information Systems. In 2010, he partnered with scientists at Northwestern University to launch The Street Wire. This was one of the first mainstream uses of what would become “Narrative Science”, an artificial intelligence platform specializing in natural language generation. You can contact Kurt on LinkedIn here.