New York Q1, 2019 Employment Statistics- 648,865 employers, up 2.2% from 635,091
- 9,402,580 employees, up 1.5% from 9,260,982
- $1,639 average weekly wage, up 2.6% from $1,597
- The average weekly wage is 38.4% above the national average
- The cost of living is 35.7% above the national average
Employer & Employee Growth
In the last year, the number of employers in the state increased by 13,774, which is an increase of 2.2%. The number of employees in New York increased by 141,598, an increase of 1.5%. During this same period, the average weekly wage increased by $42, an increase of 2.6%.
The number of private employers increased since last years' Q1. The number of private businesses increased by 13,603 or 2.2%. Growth in private businesses in New York grew slower than the national average of 3.0%. The number of employees in these businesses increased since last years' Q1, increasing by 139,024 or 1.8%. The growth in employees of private businesses in New York was faster than the national average of 1.7%.
The average weekly wage of employees of private businesses increased since last years' Q1. The averge weekly wage increased by $43 or 2.6%. Growth in average weekly wage of employees of private businesses in New York grew slower than the national average of 3.0%.
Leading Sectors
Businesses by Sector
The sector with the greatest number of businesses in the state is Retail trade with 11.3% of the businesses in the state. The number of businesses in this sector declined by 3.1%. Other services (11.1%), which decreased by 1.7% and Professional services (10.9%), which decreased by 1.7%, round out the 3 largest sectors.
Table: Sectors by Year-over-Year Qtly Business Change %
| Sector | Change Biz | % Change |
|---|---|---|
| Company management | 117 | 3.1% |
| Waste services | 726 | 2.0% |
| Arts and entertainment | 61 | 0.5% |
| Information | 37 | 0.3% |
| Utilities | 1 | 0.2% |
| Agriculture and forestry | -15 | -0.6% |
| Educational services | -80 | -0.9% |
| Construction | -448 | -0.9% |
| Real estate and rental | -324 | -0.9% |
| Transport and warehousing | -161 | -1.3% |
| Healthcare | -753 | -1.3% |
| Professional services | -1,207 | -1.7% |
| Other services | -1,225 | -1.7% |
| Accommodation and food services | -1,127 | -2.1% |
| Finance and insurance | -677 | -2.3% |
| Manufacturing | -494 | -2.9% |
| Retail trade | -2,377 | -3.1% |
| Wholesale trade | -1,204 | -3.4% |
| Mining and oil extraction | -20 | -5.3% |
Employees by Sector
The sector with the greatest number of employees in the state is Healthcare with 17.0% of the employees in the state, had an increase in employees of 4.3% in the last year. Retail trade (9.6%), decreased by 1.7% and Accommodation and food services (7.9%), increased by 0.2%, round out the top 3 sectors.Table: Sectors by Year-over-Year Qtly Employee Change %
| Sector | Employee Change | % Change |
|---|---|---|
| Transport and warehousing | 11,522 | 4.6% |
| Waste services | 21,244 | 4.4% |
| Healthcare | 66,175 | 4.3% |
| Construction | 13,487 | 3.7% |
| Mining and oil extraction | 75 | 1.9% |
| Educational services | 5,576 | 1.6% |
| Finance and insurance | 7,261 | 1.4% |
| Professional services | 7,978 | 1.2% |
| Arts and entertainment | 1,547 | 1.0% |
| Real estate and rental | 1,027 | 0.5% |
| Other services | 1,236 | 0.3% |
| Information | 882 | 0.3% |
| Accommodation and food services | 1,498 | 0.2% |
| Company management | 214 | 0.1% |
| Agriculture and forestry | -27 | -0.1% |
| Manufacturing | -1,049 | -0.2% |
| Wholesale trade | -2,875 | -0.9% |
| Retail trade | -15,466 | -1.7% |
| Utilities | -730 | -1.9% |
Average Weekly Wage by Sector
The sector that pays their employees the highest is Finance and insurance paying $7,765per week compared with the state average of $1,696. Weekly wages in this sector rose by $110 or 1.4%. Company management ($3,501), declined by $44 or 1.2% and Information ($2,970) increased by $123 or 4.3% round out the 3 largest sectors.Table: Sectors by Year-over-Year Weekly Wage Change %
| Sector | Wage Change | Change % |
|---|---|---|
| Waste services | $83 | 7.6% |
| Accommodation and food services | $30 | 5.5% |
| Professional services | $124 | 5.5% |
| Retail trade | $35 | 5.0% |
| Agriculture and forestry | $32 | 4.6% |
| Information | $123 | 4.3% |
| Real estate and rental | $56 | 3.6% |
| Other services | $29 | 3.6% |
| Construction | $43 | 3.2% |
| Arts and entertainment | $30 | 3.0% |
| Mining and oil extraction | $27 | 2.2% |
| Wholesale trade | $36 | 2.1% |
| Healthcare | $18 | 1.9% |
| Manufacturing | $21 | 1.5% |
| Finance and insurance | $110 | 1.4% |
| Educational services | $14 | 1.2% |
| Transport and warehousing | $9 | 0.9% |
| Company management | $-44 | -1.2% |
| Utilities | $-36 | -1.4% |
Leading Industries
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 6.5% of the businesses in the state (with 42,404 employing 566,209 workers). The Restaurants and other eating places industry had 1,079 fewer businesses, a decline of 2.5% in the last year. Private households (3.3% of businesses) added 53 businesses, an increase of 0.3% and Offices of physicians (2.4% of businesses) had 501 fewer businesses, a decline of 3.1% round out the 3 industries with the most businesses.Table: Top 7 Industries by Business Change %
| Industry | Business Chg | % Change |
|---|---|---|
| Automobile and light truck manufacturing | 4 | 133.3% |
| Advertising material distribution services | 53 | 45.7% |
| Motor vehicle metal stamping | 2 | 40.0% |
| Steam and air-conditioning supply | 1 | 33.3% |
| Hog and pig farming | 2 | 33.3% |
| Other consumer goods rental | 175 | 26.5% |
| Cement manufacturing | 4 | 22.2% |
Table: Top 7 Industries by Business Change #
| Industry | Business Chg | % Change |
|---|---|---|
| Temporary help services | 1,181 | 17.9% |
| Convenience stores | 320 | 13.4% |
| Software publishers | 236 | 15.4% |
| Other consumer goods rental | 175 | 26.5% |
| Other outpatient care centers | 171 | 18.8% |
| Independent artists writers and performers | 137 | 4.3% |
| Management of companies and enterprises | 117 | 3.1% |
Employees by Industry
Private households (3.3% of employees) added 53 employees, an increase of 0.3% and Offices of physicians (2.4% ofemployees) had 501 fewer employees, a decline of 3.1% round out the 3 industries with the most employees.Table: Top 7 Industries by Employee Change %
| Industry | Emp Chg | % Change |
|---|---|---|
| Credit bureaus | 821 | 213.5% |
| Coal and other mineral merchant wholesalers | 148 | 101.9% |
| Other financial vehicles | 315 | 72.9% |
| Fishing | 23 | 72.7% |
| Convention and trade show organizers | 1,566 | 71.2% |
| Scenic and sightseeing transportation water | 267 | 51.1% |
| Automobile and light truck manufacturing | 3 | 36.1% |
Table: Top 7 Industries by Employee Change #
| Industry | Emp Chg | % Change |
|---|---|---|
| Home health care services | 32,720 | 14.8% |
| Commercial banking | 18,477 | 20.6% |
| Professional employer organizations | 15,449 | 31.8% |
| Services for the elderly and disabled | 14,639 | 9.3% |
| General medical and surgical hospitals | 5,568 | 1.6% |
| General warehousing and storage | 5,171 | 21.8% |
| Colleges and universities | 4,777 | 2.5% |
Average Weekly Wage by Industry
Private households ($3) and Offices of physicians ($2) round out the top 3 industries. Employees in the Private households ($3 per week) were paid $53 more per week, an increase of 0.3% and Offices of physicians ($2 per week) were paid $501 less per week, a decline of 3.1% round out the 3 industries that pay their employees the most.Table: Top 7 Industries by Wage Change %
| Industry | Wkly Chg | % Change |
|---|---|---|
| Computer training | $642 | 55.0% |
| Support activities for rail transportation | $536 | 54.8% |
| Appliance and electronics merchant whls. | $450 | 34.4% |
| Land subdivision | $497 | 27.5% |
| Commercial banking | $1,183 | 26.1% |
| Apiculture | $126 | 25.8% |
| Other activities related to real estate | $811 | 24.0% |
Table: Top 7 Industries by Wage Change $
| Industry | Wkly Chg | % Change |
|---|---|---|
| Miscellaneous intermediation | $2,011 | 20.7% |
| Financial transaction processing and clearing | $1,286 | 22.5% |
| Commercial banking | $1,183 | 26.1% |
| Other activities related to real estate | $811 | 24.0% |
| Cable and other subscription programming | $740 | 12.9% |
| Computer training | $642 | 55.0% |
| Other credit intermediation activities | $590 | 14.1% |
Company Size
New York Businesses by Size
The solopreneur company, has the most businesses in New York by far. 65.0% of all businesses in the state have fewer than 5 employees. The 608,120 small businesses in the state represent 96.1% of all private businesses. The national average is 92.9%. (Small businesses have fewer than 50 employees, Solopreneurs employ fewer than 5.) New York added 13,603 businesses in the last year, an increase of 2.2% as compared to the national average of 3.0%.Small businesses are defined as companies with fewer than 50 employees. These small businesses added 13,402 businesses in the last year, which is an increase of 2.3% 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 152 businesses in the last year, which is an increase of 0.7% as compared to the national average of 1.3%.
Large businesses are defined as companies with more than 500 employees. These large businesses added 49 businesses in the last year, which is an increase of 3.6% as compared to the national average of 2.1%.
New York Employees by Business Size
New York added 417,073 employees in the last year, an increase of 5.5% as compared to the national average of 5.2%. Small businesses are defined as companies with fewer than 50 employees. These small businesses added 34,973 businesses in the last year, which is an increase of 6.1% 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 65,412 employees in the last year, which is an increase of 2.4% as compared to the national average of 4.7%.
Large businesses are defined as companies with more than 500 employees. Large businesses added 316,688 employees in the last year, which is an increase of 20.1% as compared to the national average of 9.2%.
New York Avg Weekly Wages by Business Size
The smallest companies in New York (those with fewer than 5 employees) pay workers 1.3% more than the national average ($1,018 per week as compared to the national average of $1,005 per week). The largest companies in New York (those with more than 1,000 employees) pay 31.6% workers above the national average ($2,798 per week as compared to the national average of $1,913 per week).Average weekly wages in small businesses added $104 per week in the last year, which is an increase of 2.4% as compared to the national average of 3.1%. Employees of mid-sized businesses added $201 in wages per week in the last year, which is an increase of 4.0% as compared to the national average of 1.3%.
Employees of large businesses added $1 of weekly wages in the last year, which is an increase of 0.0% as compared to the national average of 2.1%.
Data Sources
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