New York Q2, 2019 Employment Statistics- 651,923 employers, up 2.3% from 637,107
- 9,607,501 employees, up 1.3% from 9,484,633
- $1,347 average weekly wage, up 3.9% from $1,296
- The average weekly wage is 23.0% above the national average
- The cost of living is 39.1% above the national average
Employer & Employee Growth
In the last year, the number of employers in the state increased by 14,816, which is an increase of 2.3%. The number of employees in New York increased by 122,868, an increase of 1.3%. During this same period, the average weekly wage increased by $51, an increase of 3.9%.
The number of private employers increased since last years' Q1. The number of private businesses increased by 14,640 or 2.4%. Growth in private businesses in New York grew slower than the national average of 2.9%. The number of employees in these businesses increased since last years' Q1, increasing by 119,979 or 1.5%. The growth in employees of private businesses in New York was faster than the national average of 1.4%.
The average weekly wage of employees of private businesses increased since last years' Q1. The averge weekly wage increased by $51 or 4.0%. Growth in average weekly wage of employees of private businesses in New York grew faster than the national average of 3.8%.
Leading Sectors
Businesses by Sector
The sector with the greatest number of businesses in the state is Retail trade with 11.2% of the businesses in the state. The number of businesses in this sector declined by 2.9%. Other services (11.1%), which decreased by 1.6% and Professional services (10.8%), which decreased by 1.9%, round out the 3 largest sectors.
Table: Sectors by Year-over-Year Qtly Business Change %
| Sector | Change Biz | % Change |
|---|---|---|
| Waste services | 798 | 2.2% |
| Company management | 58 | 1.5% |
| Utilities | 4 | 0.6% |
| Arts and entertainment | -22 | -0.2% |
| Educational services | -40 | -0.4% |
| Information | -68 | -0.5% |
| Real estate and rental | -258 | -0.7% |
| Healthcare | -619 | -1.1% |
| Agriculture and forestry | -31 | -1.2% |
| Other services | -1,176 | -1.6% |
| Construction | -842 | -1.7% |
| Finance and insurance | -511 | -1.7% |
| Professional services | -1,391 | -1.9% |
| Transport and warehousing | -276 | -2.2% |
| Accommodation and food services | -1,222 | -2.3% |
| Retail trade | -2,219 | -2.9% |
| Manufacturing | -494 | -2.9% |
| Wholesale trade | -1,253 | -3.5% |
| Mining and oil extraction | -25 | -6.6% |
Employees by Sector
The sector with the greatest number of employees in the state is Healthcare with 16.9% of the employees in the state, had an increase in employees of 4.1% in the last year. Retail trade (9.5%), decreased by 1.9% and Accommodation and food services (8.2%), decreased by 0.4%, round out the top 3 sectors.Table: Sectors by Year-over-Year Qtly Employee Change %
| Sector | Employee Change | % Change |
|---|---|---|
| Healthcare | 63,914 | 4.1% |
| Waste services | 19,292 | 3.7% |
| Transport and warehousing | 8,216 | 3.2% |
| Construction | 6,133 | 1.5% |
| Educational services | 5,316 | 1.5% |
| Professional services | 9,526 | 1.4% |
| Information | 3,650 | 1.4% |
| Finance and insurance | 5,843 | 1.1% |
| Arts and entertainment | 1,611 | 0.9% |
| Mining and oil extraction | 40 | 0.9% |
| Company management | 985 | 0.7% |
| Real estate and rental | 935 | 0.5% |
| Other services | 117 | 0.0% |
| Agriculture and forestry | -57 | -0.2% |
| Accommodation and food services | -2,721 | -0.4% |
| Manufacturing | -2,700 | -0.6% |
| Utilities | -372 | -1.0% |
| Wholesale trade | -3,675 | -1.1% |
| Retail trade | -17,663 | -1.9% |
Average Weekly Wage by Sector
The sector that pays their employees the highest is Finance and insurance paying $3,226per week compared with the state average of $1,326. Weekly wages in this sector rose by $99 or 3.2%. Company management ($2,734), rose by $161 or 6.3% and Utilities ($2,498) increased by $87 or 3.6% round out the 3 largest sectors.Table: Sectors by Year-over-Year Weekly Wage Change %
| Sector | Wage Change | Change % |
|---|---|---|
| Waste services | $76 | 7.9% |
| Company management | $161 | 6.3% |
| Information | $139 | 6.2% |
| Accommodation and food services | $31 | 5.6% |
| Retail trade | $39 | 5.6% |
| Other services | $37 | 4.7% |
| Arts and entertainment | $44 | 4.7% |
| Professional services | $86 | 4.2% |
| Agriculture and forestry | $29 | 4.2% |
| Utilities | $87 | 3.6% |
| Finance and insurance | $99 | 3.2% |
| Transport and warehousing | $30 | 3.1% |
| Construction | $41 | 3.0% |
| Real estate and rental | $39 | 3.0% |
| Healthcare | $28 | 2.9% |
| Educational services | $33 | 2.8% |
| Manufacturing | $31 | 2.5% |
| Wholesale trade | $35 | 2.2% |
| Mining and oil extraction | $1 | 0.1% |
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 42,420 employing 595,138 workers). The Restaurants and other eating places industry had 1,186 fewer businesses, a decline of 2.7% in the last year. Private households (3.3% of businesses) added 112 businesses, an increase of 0.5% and Offices of physicians (2.4% of businesses) had 508 fewer businesses, a decline of 3.2% 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 | 2 | 66.7% |
| Starch and vegetable oil manufacturing | 3 | 50.0% |
| Professional employer organizations | 205 | 41.7% |
| Motor vehicle metal stamping | 2 | 40.0% |
| Other consumer goods rental | 181 | 27.5% |
| Other financial vehicles | 25 | 27.2% |
| Other grain farming | 6 | 25.0% |
Table: Top 7 Industries by Business Change #
| Industry | Business Chg | % Change |
|---|---|---|
| Temporary help services | 1,211 | 17.5% |
| Professional employer organizations | 205 | 41.7% |
| Software publishers | 186 | 11.3% |
| Other consumer goods rental | 181 | 27.5% |
| Other outpatient care centers | 178 | 19.6% |
| Convenience stores | 151 | 5.8% |
| Private households | 112 | 0.5% |
Employees by Industry
Private households (3.3% of employees) added 112 employees, an increase of 0.5% and Offices of physicians (2.4% ofemployees) had 508 fewer employees, a decline of 3.2% round out the 3 industries with the most employees.Table: Top 7 Industries by Employee Change %
| Industry | Emp Chg | % Change |
|---|---|---|
| Credit bureaus | 818 | 204.9% |
| Fishing | 31 | 69.5% |
| Convention and trade show organizers | 1,339 | 57.0% |
| Support activities for rail transportation | 103 | 46.7% |
| Other financial vehicles | 221 | 39.7% |
| Petroleum refineries | 7 | 36.0% |
| Metal valve manufacturing | 788 | 30.8% |
Table: Top 7 Industries by Employee Change #
| Industry | Emp Chg | % Change |
|---|---|---|
| Home health care services | 32,176 | 14.0% |
| Commercial banking | 17,638 | 19.5% |
| Professional employer organizations | 15,345 | 28.6% |
| Services for the elderly and disabled | 14,866 | 9.1% |
| General warehousing and storage | 5,934 | 25.0% |
| Internet publishing and web search portals | 5,164 | 13.4% |
| Colleges and universities | 4,711 | 2.6% |
Average Weekly Wage by Industry
The industry that pays their employees the most is Pension funds, paying $8,107 compared with the state average of $1,326. Employees in the Pension funds industry were paid $680 more per week, an increase of 9.2% in the last year. Coal and other mineral merchant wholesalers ($6,586) and Credit bureaus ($6,056) round out the top 3 industries. Employees in the Coal and other mineral merchant wholesalers ($6,586 per week) were paid $938 less per week, a decline of 12.5% and Credit bureaus ($6,056 per week) were paid $1,569 more per week, an increase of 35.0% round out the 3 industries that pay their employees the most.Table: Top 7 Industries by Wage Change %
| Industry | Wkly Chg | % Change |
|---|---|---|
| Audio and video equipment manufacturing | $2,251 | 130.3% |
| Fabric coating mills | $506 | 44.0% |
| Other performing arts companies | $347 | 42.3% |
| Shoe stores | $227 | 42.3% |
| Credit bureaus | $1,569 | 35.0% |
| Toy and hobby goods merchant wholesalers | $391 | 30.4% |
| Advertising material distribution services | $270 | 29.0% |
Table: Top 7 Industries by Wage Change $
| Industry | Wkly Chg | % Change |
|---|---|---|
| Audio and video equipment manufacturing | $2,251 | 130.3% |
| Credit bureaus | $1,569 | 35.0% |
| Electric power generation | $684 | 25.6% |
| Pension funds | $680 | 9.2% |
| Tobacco manufacturing | $590 | 21.9% |
| All other financial investment activities | $517 | 16.5% |
| Fabric coating mills | $506 | 44.0% |
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 92.4%. (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%.
Top Industries for Business and Employment
The table below illustrates the largest industries in the state, by number of businesses:Table: Top 10 Industries by # of Businesses
| Industry | # Businesses | % Change |
|---|---|---|
| Restaurants and other eating places | 42,420 | -2.7% |
| Private households | 21,321 | 0.5% |
| Offices of physicians | 15,414 | -3.2% |
| Residential building construction | 15,149 | -3.0% |
| Computer systems design and related services | 13,554 | -2.5% |
| Lessors of residential buildings | 13,340 | -1.5% |
| Offices of lawyers | 12,666 | -2.8% |
| Hair nail and skin care services | 10,862 | -2.9% |
| Management consulting services | 10,823 | -0.9% |
| Accounting and bookkeeping services | 9,325 | -0.3% |
The table below illustrates the largest industries in the state, by number of employees:
Table: Top 10 Industries by # of Employees
| Industry | # Employees | % Change |
|---|---|---|
| Restaurants and other eating places | 595,138 | -0.6% |
| General medical and surgical hospitals | 357,693 | 1.3% |
| Home health care services | 262,172 | 14.0% |
| Colleges and universities | 192,254 | 2.6% |
| Services for the elderly and disabled | 177,540 | 9.1% |
| Supermarkets and other grocery stores | 165,932 | -1.3% |
| Offices of physicians | 161,005 | 0.8% |
| Management of companies and enterprises | 145,709 | 0.7% |
| Nursing care facilities skilled nursing | 121,093 | -0.1% |
| Offices of lawyers | 119,085 | 0.9% |
The table below illustrates the largest industries in the state, by highest wages:
Table: Top 10 Industries by Weekly Wage
| Industry | Wkly Wages | % Change |
|---|---|---|
| Pension funds | $8,107 | 9.2% |
| Coal and other mineral merchant wholesalers | $6,586 | -12.5% |
| Credit bureaus | $6,056 | 35.0% |
| Portfolio management | $5,449 | 5.9% |
| Commodity contracts brokerage | $5,328 | -3.9% |
| Investment banking and securities dealing | $5,100 | 0.8% |
| Miscellaneous intermediation | $4,922 | -4.5% |
| Securities brokerage | $4,577 | -2.0% |
| Investment advice | $4,109 | 5.0% |
| Reinsurance carriers | $4,108 | 11.6% |
Data Sources
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