South Carolina Business & Employment Growth Since 2009
- 23,162 more businesses
- 327,232 more employees
- 18.5% increase in total wages
- $7,928 increase in annual wages per employee
- 21.6% increase in wages per employee
Since 2009, the number of businesses in South Carolina has grown by 20.4% (8.9% greater than the national average of 11.4%). Employment in South Carolina has grown by 18.5% (4.9% greater than the national average of 13.6%). Wages have grown by 21.5% since the end of the Great Recession. This wage growth is 4.2% less than the national average of 25.7%. The average weekly wage in South Carolina of $859 is 28.2% below the national average of $1,101. The gap between the national average has widened from 23.9% a widening of 4.3% since the end of the recession.
Sector Growth
Business Sector Growth
| Sector | 2018 | 2009 | Pct Chg |
|---|---|---|---|
| Professional services | 18,616 | 12,152 | 53.2% |
| Retail trade | 18,111 | 16,749 | 8.1% |
| Construction | 12,554 | 12,730 | -1.4% |
| Other services | 11,991 | 10,688 | 12.2% |
| Accommodation and food services | 11,035 | 8,737 | 26.3% |
| Healthcare | 10,659 | 8,432 | 26.4% |
| Wholesale trade | 8,878 | 8,643 | 2.7% |
| Waste services | 8,577 | 6,728 | 27.5% |
| Finance and insurance | 7,635 | 6,698 | 14.0% |
| Manufacturing | 6,277 | 4,988 | 25.8% |
| Real estate and rental | 5,905 | 4,505 | 31.1% |
| Transport and warehousing | 3,498 | 2,747 | 27.3% |
| Information | 2,716 | 1,690 | 60.7% |
| Arts and entertainment | 2,036 | 1,582 | 28.7% |
| Educational services | 1,579 | 1,032 | 53.0% |
| Agriculture and forestry | 1,184 | 1,045 | 13.3% |
| Company management | 978 | 482 | 102.9% |
| Utilities | 334 | 244 | 36.9% |
| Mining and oil extraction | 131 | 116 | 12.9% |
The sector that has had the strongest growth [in number of businesses] is the Professional services sector, which has increased by 53.2% since 2009. The sector that has has the largest decline is the Construction sector, which has declined by 1.4% since the recession.
Employment Sector Growth
| Sector | 2018 | 2009 | Pct Chg |
|---|---|---|---|
| Retail trade | 251,578 | 223,849 | 12.4% |
| Manufacturing | 249,586 | 213,837 | 16.7% |
| Accommodation and food services | 232,007 | 181,928 | 27.5% |
| Healthcare | 208,202 | 165,422 | 25.9% |
| Waste services | 170,610 | 113,980 | 49.7% |
| Construction | 104,284 | 88,658 | 17.6% |
| Professional services | 102,076 | 72,912 | 40.0% |
| Wholesale trade | 72,011 | 65,281 | 10.3% |
| Finance and insurance | 69,767 | 68,233 | 2.2% |
| Transport and warehousing | 66,859 | 45,089 | 48.3% |
| Other services | 53,612 | 48,543 | 10.4% |
| Arts and entertainment | 31,694 | 26,608 | 19.1% |
| Real estate and rental | 31,021 | 27,380 | 13.3% |
| Information | 28,197 | 27,197 | 3.7% |
| Educational services | 26,002 | 20,021 | 29.9% |
| Company management | 22,180 | 14,521 | 52.7% |
| Utilities | 12,011 | 12,739 | -5.7% |
| Agriculture and forestry | 10,931 | 11,349 | -3.7% |
| Mining and oil extraction | 1,724 | 1,339 | 28.8% |
The sector that has had the strongest employment growth [in number of employees] is the Waste services sector, which has increased by 49.7% since 2009. The sector that has has the largest employment decline in number of employees is the Utilities sector, which has declined by 5.7% since the recession.
Weekly Wage Growth By Sector
| Sector | 2018 | 2009 | Pct Chg |
|---|---|---|---|
| Utilities | $1,725 | $1,380 | 25.0% |
| Company management | $1,540 | $1,209 | 27.4% |
| Professional services | $1,360 | $1,088 | 25.0% |
| Finance and insurance | $1,325 | $995 | 33.2% |
| Wholesale trade | $1,314 | $1,024 | 28.3% |
| Mining and oil extraction | $1,292 | $802 | 61.1% |
| Information | $1,186 | $947 | 25.2% |
| Manufacturing | $1,144 | $903 | 26.7% |
| Construction | $1,012 | $774 | 30.7% |
| Healthcare | $904 | $751 | 20.4% |
| Real estate and rental | $874 | $630 | 38.7% |
| Transport and warehousing | $832 | $700 | 18.9% |
| Educational services | $709 | $614 | 15.5% |
| Agriculture and forestry | $698 | $529 | 31.9% |
| Waste services | $658 | $590 | 11.5% |
| Other services | $634 | $497 | 27.6% |
| Retail trade | $533 | $461 | 15.6% |
| Arts and entertainment | $378 | $333 | 13.5% |
| Accommodation and food services | $342 | $279 | 22.6% |
The sector that has had the strongest wage growth is the Mining and oil extraction sector, which has increased by 61.1% since 2009. The sector that has has the smallest wage growth is the Arts and entertainment sector, which has declined by 13.5% since the recession.
Industry Growth
Business Industry Growth
| Industry | 2018 | 2009 | Pct Chg |
|---|---|---|---|
| Private households | 4,359 | 3,967 | 9.9% |
| Computer systems design and related services | 3,694 | 1,608 | 129.7% |
| Management consulting services | 3,224 | 1,877 | 71.8% |
| Wholesale trade agents and brokers | 2,917 | 3,274 | -10.9% |
| Offices of lawyers | 2,650 | 2,344 | 13.1% |
| Residential building construction | 2,547 | 2,868 | -11.2% |
The top industry that has had the largest increase in the number of businesses is the Computer systems design and related services industry, which has increased by 129.7% since 2009. The top industry that has has the largest decline in the number of businesses is the Wholesale trade agents and brokers industry, which has declined by 10.9% since the recession.
Employment Industry Growth
| Industry | 2018 | 2009 | Pct Chg |
|---|---|---|---|
| Temporary help services | 70,579 | 32,547 | 116.9% |
| Supermarkets and other grocery stores | 40,474 | 37,110 | 9.1% |
| Offices of physicians | 40,022 | 30,670 | 30.5% |
| General medical and surgical hospitals | 34,336 | 34,380 | -0.1% |
| Hotels and motels except casino hotels | 29,932 | 25,304 | 18.3% |
The top industry that has had the largest increase in the number of employees is the Temporary help services industry, which has increased by 116.9% since 2009. The top industry that has has the largest decline in the number of employees is the General medical and surgical hospitals industry, which has declined by 0.1% since the recession.
Weekly Wage Growth By Industry
| Industry | 2018 | 2009 | Pct Chg |
|---|---|---|---|
| Health and welfare funds | $5,312 | $6,334 | -16.1% |
| Petroleum refineries | $5,193 | $1,196 | 334.2% |
| Investment banking and securities dealing | $3,865 | $3,276 | 18.0% |
| Other financial vehicles | $3,514 | $934 | 276.2% |
| Securities brokerage | $2,883 | $1,943 | 48.4% |
| Commodity contracts dealing | $2,378 | $855 | 178.1% |
The top industry that has had the strongest wage growth is the Petroleum refineries industry, which has increased by 334.2% since 2009. The top industry that has has the largest wage decline is the Health and welfare funds industry, which has declined by 16.1% since the recession.
Company Size
Business Growth By Company Size
The biggest 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 grown from 61 to 81, which is an increase of 32.8%.The smallest percentage change in the number of businesses has been in businesses with 5 to 9 employees. The number of businesses with this number of employees has grown from 18,939 to 19,573, which is an increase of 3.3%.
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 | 78,338 | 64,004 | 22.4% |
| 5-9 Employees | 19,573 | 18,939 | 3.3% |
| 10-19 Employees | 14,835 | 12,258 | 21.0% |
| 20-49 Employees | 10,631 | 8,358 | 27.2% |
| 50-99 Employees | 3,515 | 2,818 | 24.7% |
| 100-249 Employees | 1,919 | 1,531 | 25.3% |
| 250-499 Employees | 482 | 399 | 20.8% |
| 500-999 Employees | 162 | 127 | 27.6% |
| More Than 1,000 Employees | 81 | 61 | 32.8% |
Employment Growth by Company Size
The biggest percentage change in the number of employees has been in businesses with 1,000 or more employees. The number of employees in companies this size has grown from 108,359 to 149,991, which is an increase of 38.4%.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 123,699 to 129,488, which is an increase of 4.7%.
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 | 112,162 | 104,528 | 7.3% |
| 5-9 Employees | 129,488 | 123,699 | 4.7% |
| 10-19 Employees | 198,907 | 163,654 | 21.5% |
| 20-49 Employees | 319,457 | 248,874 | 28.4% |
| 50-99 Employees | 238,144 | 191,113 | 24.6% |
| 100-249 Employees | 283,891 | 224,326 | 26.6% |
| 250-499 Employees | 162,266 | 134,963 | 20.2% |
| 500-999 Employees | 108,684 | 86,657 | 25.4% |
| More Than 1,000 Employees | 149,991 | 108,359 | 38.4% |
Weekly Wage Growth by Company Size
The biggest percentage change in the average weekly wage has been in businesses with fewer than 5 employees. The average weekly wage in companies this size has grown from $690 to $1,055, which is an increase of 52.9%.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 $889 to $1,052, which is an increase of 18.3%.
Table: Change Average Weekly Wage by Size Since the Recession:
| Company Size | Q1 2018 | Q1 2010 | % Change |
|---|---|---|---|
| Fewer than 5 Employees | $1,055 | $690 | 52.9% |
| 5-9 Employees | $775 | $584 | 32.7% |
| 10-19 Employees | $737 | $588 | 25.3% |
| 20-49 Employees | $730 | $583 | 25.2% |
| 50-99 Employees | $772 | $597 | 29.3% |
| 100-249 Employees | $816 | $675 | 20.9% |
| 250-499 Employees | $958 | $709 | 35.1% |
| 500-999 Employees | $1,052 | $889 | 18.3% |
| More Than 1,000 Employees | $1,338 | $1,065 | 25.6% |
Data Sources
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