New York Q4, 2019 Employment Statistics- 650,316 employers, up 1.0% from 644,184
- 9,686,453 employees, up 0.8% from 9,605,897
- $1,499 average weekly wage, up 3.7% from $1,445
- The average weekly wage is 26.5% 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 6,132, which is an increase of 1.0%. The number of employees in New York increased by 80,557, an increase of 0.8%. During this same period, the average weekly wage increased by $54, an increase of 3.7%.
The number of private employers increased since last years' Q1. The number of private businesses increased by 6,004 or 1.0%. Growth in private businesses in New York grew slower than the national average of 2.5%. The number of employees in these businesses increased since last years' Q1, increasing by 76,480 or 0.9%. The growth in employees of private businesses in New York was slower than the national average of 1.2%.
The average weekly wage of employees of private businesses increased since last years' Q1. The averge weekly wage increased by $59 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 2.4%. Other services (11.0%), which decreased by 1.6% and Professional services (10.8%), which decreased by 1.5%, round out the 3 largest sectors.
Table: Sectors by Year-over-Year Qtly Business Change %
| Sector | Change Biz | % Change |
|---|---|---|
| Waste services | 870 | 2.3% |
| Educational services | 100 | 1.1% |
| Company management | 34 | 0.9% |
| Information | 76 | 0.6% |
| Utilities | 3 | 0.5% |
| Agriculture and forestry | -9 | -0.3% |
| Arts and entertainment | -37 | -0.3% |
| Construction | -227 | -0.5% |
| Real estate and rental | -159 | -0.5% |
| Healthcare | -449 | -0.8% |
| Transport and warehousing | -185 | -1.5% |
| Professional services | -1,081 | -1.5% |
| Other services | -1,166 | -1.6% |
| Accommodation and food services | -910 | -1.7% |
| Retail trade | -1,774 | -2.4% |
| Manufacturing | -462 | -2.8% |
| Finance and insurance | -950 | -3.3% |
| Wholesale trade | -1,207 | -3.5% |
| Mining and oil extraction | -22 | -6.0% |
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 3.6% in the last year. Retail trade (9.6%), decreased by 1.9% and Accommodation and food services (8.0%), decreased by 0.4%, round out the top 3 sectors.Table: Sectors by Year-over-Year Qtly Employee Change %
| Sector | Employee Change | % Change |
|---|---|---|
| Transport and warehousing | 12,133 | 4.4% |
| Healthcare | 58,128 | 3.6% |
| Waste services | 17,835 | 3.4% |
| Agriculture and forestry | 356 | 1.3% |
| Professional services | 7,356 | 1.1% |
| Finance and insurance | 3,070 | 0.6% |
| Educational services | 1,855 | 0.5% |
| Company management | 569 | 0.4% |
| Arts and entertainment | 368 | 0.2% |
| Information | 81 | 0.0% |
| Real estate and rental | -120 | 0.0% |
| Other services | -1,204 | -0.3% |
| Accommodation and food services | -3,025 | -0.4% |
| Construction | -3,107 | -0.8% |
| Utilities | -533 | -1.4% |
| Wholesale trade | -4,661 | -1.4% |
| Mining and oil extraction | -78 | -1.6% |
| Retail trade | -17,922 | -1.9% |
| Manufacturing | -9,086 | -2.1% |
Average Weekly Wage by Sector
The sector that pays their employees the highest is Finance and insurance paying $4,168per week compared with the state average of $1,517. Weekly wages in this sector rose by $142 or 3.5%. Company management ($2,979), rose by $10 or 0.3% and Information ($2,697) increased by $177 or 7.0% round out the 3 largest sectors.Table: Sectors by Year-over-Year Weekly Wage Change %
| Sector | Wage Change | Change % |
|---|---|---|
| Waste services | $125 | 11.3% |
| Arts and entertainment | $95 | 7.1% |
| Information | $177 | 7.0% |
| Accommodation and food services | $34 | 5.8% |
| Mining and oil extraction | $79 | 5.7% |
| Professional services | $134 | 5.4% |
| Retail trade | $39 | 5.4% |
| Agriculture and forestry | $37 | 5.0% |
| Other services | $37 | 4.4% |
| Construction | $60 | 3.9% |
| Finance and insurance | $142 | 3.5% |
| Real estate and rental | $47 | 3.0% |
| Wholesale trade | $45 | 2.6% |
| Manufacturing | $30 | 2.2% |
| Healthcare | $23 | 2.2% |
| Utilities | $45 | 2.0% |
| Educational services | $14 | 1.1% |
| Company management | $10 | 0.3% |
| Transport and warehousing | $-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 42,511 employing 584,406 workers). The Restaurants and other eating places industry had 828 fewer businesses, a decline of 1.9% in the last year. Private households (3.2% of businesses) had 538 fewer businesses, a decline of 2.5% and Residential building construction (2.4% of businesses) had 56 fewer businesses, a decline of 0.4% round out the 3 industries with the most businesses.Table: Top 7 Industries by Business Change %
| Industry | Business Chg | % Change |
|---|---|---|
| Professional employer organizations | 234 | 46.2% |
| Motor vehicle metal stamping | 2 | 40.0% |
| Starch and vegetable oil manufacturing | 2 | 33.3% |
| Other consumer goods rental | 198 | 30.9% |
| Apiculture | 4 | 28.6% |
| Other depository credit intermediation | 2 | 25.0% |
| Goat farming | 1 | 25.0% |
Table: Top 7 Industries by Business Change #
| Industry | Business Chg | % Change |
|---|---|---|
| Temporary help services | 948 | 12.5% |
| Convenience stores | 451 | 16.6% |
| Software publishers | 278 | 15.8% |
| Professional employer organizations | 234 | 46.2% |
| Other consumer goods rental | 198 | 30.9% |
| Pharmacies and drug stores | 119 | 2.2% |
| Real estate property managers | 109 | 1.5% |
Employees by Industry
Private households (3.2% of employees) had 538 fewer employees, a decline of 2.5% and Residential building construction (2.4% ofemployees) had 56 fewer employees, a decline of 0.4% round out the 3 industries with the most employees.Table: Top 7 Industries by Employee Change %
| Industry | Emp Chg | % Change |
|---|---|---|
| Credit bureaus | 820 | 202.4% |
| Convention and trade show organizers | 1,522 | 67.6% |
| Petroleum refineries | 10 | 49.2% |
| Support activities for rail transportation | 81 | 33.8% |
| Fiber yarn and thread mills | 11 | 32.8% |
| Metal valve manufacturing | 782 | 30.0% |
| Local messengers and local delivery | 1,907 | 28.3% |
Table: Top 7 Industries by Employee Change #
| Industry | Emp Chg | % Change |
|---|---|---|
| Home health care services | 28,828 | 11.7% |
| Professional employer organizations | 16,539 | 27.4% |
| Commercial banking | 16,389 | 18.1% |
| Services for the elderly and disabled | 15,293 | 9.1% |
| General warehousing and storage | 7,009 | 23.5% |
| Internet publishing and web search portals | 5,359 | 13.0% |
| General medical and surgical hospitals | 5,269 | 1.5% |
Average Weekly Wage by Industry
The industry that pays their employees the most is Portfolio management, paying $11,498 compared with the state average of $1,517. Employees in the Portfolio management industry were paid $153 more per week, an increase of 1.3% in the last year. Independent artists writers and performers ($8,758) and Miscellaneous intermediation ($8,412) round out the top 3 industries. Employees in the Independent artists writers and performers ($8,758 per week) were paid $664 more per week, an increase of 8.2% and Miscellaneous intermediation ($8,412 per week) were paid $703 more per week, an increase of 9.1% round out the 3 industries that pay their employees the most.Table: Top 7 Industries by Wage Change %
| Industry | Wkly Chg | % Change |
|---|---|---|
| Petroleum bulk stations and terminals | $2,010 | 83.1% |
| Motor vehicle gasoline engine and parts mfg. | $730 | 59.2% |
| Open-end investment funds | $2,201 | 44.5% |
| Marketing research and public opinion polling | $956 | 38.4% |
| All other miscellaneous store retailers | $389 | 38.1% |
| Casinos except casino hotels | $372 | 37.0% |
| Other motor vehicle parts manufacturing | $440 | 31.2% |
Table: Top 7 Industries by Wage Change $
| Industry | Wkly Chg | % Change |
|---|---|---|
| Open-end investment funds | $2,201 | 44.5% |
| Petroleum bulk stations and terminals | $2,010 | 83.1% |
| Marketing research and public opinion polling | $956 | 38.4% |
| Commodity contracts brokerage | $840 | 18.6% |
| Motor vehicle gasoline engine and parts mfg. | $730 | 59.2% |
| Miscellaneous intermediation | $703 | 9.1% |
| Financial transaction processing and clearing | $685 | 25.5% |
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 91.2%. (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 | 42,511 | -1.9% |
| Private households | 20,656 | -2.5% |
| Residential building construction | 15,420 | -0.4% |
| Offices of physicians | 15,248 | -3.1% |
| Computer systems design and related services | 13,466 | -1.7% |
| Lessors of residential buildings | 13,259 | -1.1% |
| Offices of lawyers | 12,518 | -2.9% |
| Hair nail and skin care services | 10,947 | -0.6% |
| Management consulting services | 10,803 | -0.9% |
| Accounting and bookkeeping services | 9,317 | -0.7% |
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 | 584,406 | -0.6% |
| General medical and surgical hospitals | 361,356 | 1.5% |
| Home health care services | 275,886 | 11.7% |
| Colleges and universities | 205,270 | 1.2% |
| Services for the elderly and disabled | 183,621 | 9.1% |
| Supermarkets and other grocery stores | 163,122 | -1.7% |
| Offices of physicians | 162,649 | 0.3% |
| Management of companies and enterprises | 144,721 | 0.4% |
| Nursing care facilities skilled nursing | 120,428 | -1.4% |
| Offices of lawyers | 120,074 | 0.6% |
The table below illustrates the largest industries in the state, by highest wages:
Table: Top 10 Industries by Weekly Wage
| Industry | Wkly Wages | % Change |
|---|---|---|
| Portfolio management | $11,498 | 1.3% |
| Independent artists writers and performers | $8,758 | 8.2% |
| Miscellaneous intermediation | $8,412 | 9.1% |
| Open-end investment funds | $7,147 | 44.5% |
| Investment advice | $6,540 | 3.7% |
| Investment banking and securities dealing | $6,409 | 7.2% |
| Coal and other mineral merchant wholesalers | $5,577 | 2.3% |
| Tobacco manufacturing | $5,511 | 1.6% |
| Commodity contracts brokerage | $5,358 | 18.6% |
| Securities brokerage | $4,937 | 0.2% |
Data Sources
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