Tennessee Business & Employment Growth Since 2009
- 20,974 more businesses
- 412,665 more employees
- 16.1% increase in total wages
- $10,193 increase in annual wages per employee
- 25.3% increase in wages per employee
Since 2009, the number of businesses in Tennessee has grown by 14.9% (3.5% greater than the national average of 11.4%). Employment in Tennessee has grown by 16.1% (2.5% greater than the national average of 13.6%). Wages have grown by 25.3% since the end of the Great Recession. This wage growth is 0.4% less than the national average of 25.7%. The average weekly wage in Tennessee of $970 is 13.5% below the national average of $1,101. The gap between the national average has widened from 13.2% a widening of 0.3% since the end of the recession.
Sector Growth
Business Sector Growth
| Sector | 2018 | 2009 | Pct Chg |
|---|---|---|---|
| Retail trade | 22,413 | 21,182 | 5.8% |
| Professional services | 18,537 | 14,596 | 27.0% |
| Other services | 15,495 | 11,796 | 31.4% |
| Healthcare | 14,375 | 12,944 | 11.1% |
| Accommodation and food services | 13,454 | 10,427 | 29.0% |
| Wholesale trade | 12,896 | 12,486 | 3.3% |
| Construction | 12,125 | 12,289 | -1.3% |
| Finance and insurance | 9,818 | 8,695 | 12.9% |
| Waste services | 9,577 | 7,857 | 21.9% |
| Manufacturing | 7,051 | 6,956 | 1.4% |
| Real estate and rental | 5,889 | 5,308 | 10.9% |
| Transport and warehousing | 4,585 | 4,201 | 9.1% |
| Information | 3,523 | 2,565 | 37.3% |
| Arts and entertainment | 2,993 | 2,376 | 26.0% |
| Educational services | 1,757 | 1,197 | 46.8% |
| Company management | 1,424 | 805 | 76.9% |
| Agriculture and forestry | 889 | 762 | 16.7% |
| Mining and oil extraction | 211 | 213 | -0.9% |
| Utilities | 167 | 160 | 4.4% |
The sector that has had the strongest growth [in number of businesses] is the Professional services sector, which has increased by 27.0% since 2009. The sector that has has the largest decline is the Construction sector, which has declined by 1.3% since the recession.
Employment Sector Growth
| Sector | 2018 | 2009 | Pct Chg |
|---|---|---|---|
| Healthcare | 371,876 | 317,601 | 17.1% |
| Manufacturing | 351,065 | 309,369 | 13.5% |
| Retail trade | 337,083 | 306,835 | 9.9% |
| Accommodation and food services | 298,217 | 233,516 | 27.7% |
| Waste services | 225,972 | 161,021 | 40.3% |
| Transport and warehousing | 163,391 | 124,020 | 31.7% |
| Professional services | 140,642 | 107,339 | 31.0% |
| Construction | 124,539 | 105,807 | 17.7% |
| Wholesale trade | 119,643 | 121,059 | -1.2% |
| Finance and insurance | 110,530 | 105,119 | 5.1% |
| Other services | 78,729 | 68,830 | 14.4% |
| Company management | 50,775 | 26,112 | 94.5% |
| Educational services | 49,396 | 38,091 | 29.7% |
| Information | 44,866 | 46,653 | -3.8% |
| Real estate and rental | 40,618 | 33,128 | 22.6% |
| Arts and entertainment | 39,614 | 29,909 | 32.4% |
| Agriculture and forestry | 7,516 | 7,295 | 3.0% |
| Utilities | 3,541 | 3,555 | -0.4% |
| Mining and oil extraction | 3,509 | 3,236 | 8.4% |
The sector that has had the strongest employment growth [in number of employees] is the Waste services sector, which has increased by 40.3% since 2009. The sector that has has the largest employment decline in number of employees is the Information sector, which has declined by 3.8% since the recession.
Weekly Wage Growth By Sector
| Sector | 2018 | 2009 | Pct Chg |
|---|---|---|---|
| Company management | $2,091 | $1,400 | 0.0% |
| Finance and insurance | $1,656 | $1,210 | 0.0% |
| Professional services | $1,540 | $1,190 | 0.0% |
| Utilities | $1,467 | $1,170 | 0.0% |
| Information | $1,419 | $1,006 | 0.0% |
| Wholesale trade | $1,395 | $1,071 | 0.0% |
| Mining and oil extraction | $1,394 | $1,097 | 0.0% |
| Manufacturing | $1,144 | $935 | 0.0% |
| Construction | $1,096 | $828 | 0.0% |
| Transport and warehousing | $1,075 | $870 | 0.0% |
| Arts and entertainment | $1,029 | $688 | 0.0% |
| Healthcare | $1,015 | $851 | 0.0% |
| Real estate and rental | $983 | $713 | 0.0% |
| Educational services | $896 | $770 | 0.0% |
| Waste services | $697 | $595 | 0.0% |
| Other services | $676 | $531 | 0.0% |
| Agriculture and forestry | $668 | $503 | 0.0% |
| Retail trade | $610 | $501 | 0.0% |
| Accommodation and food services | $376 | $299 | 0.0% |
The sector that has had the strongest wage growth is the Unclassified sector, which has increased by 0.0% since 2009. The sector that has has the smallest wage growth is the Accommodation and food services sector, which has declined by 0.0% since the recession.
Industry Growth
Business Industry Growth
| Industry | 2018 | 2009 | Pct Chg |
|---|---|---|---|
| Private households | 6,841 | 3,689 | 0.0% |
| Computer systems design and related services | 4,199 | 2,382 | 0.0% |
| Offices of physicians | 4,059 | 4,204 | 0.0% |
| Management consulting services | 3,371 | 2,293 | 0.0% |
| Gasoline stations with convenience stores | 3,239 | 2,998 | 0.0% |
| Insurance agencies and brokerages | 2,692 | 2,428 | 0.0% |
The top industry that has had the largest increase in the number of businesses is the Private households industry, which has increased by 0.0% since 2009. The top industry that has has the largest decline in the number of businesses is the Offices of physicians industry, which has declined by 0.0% since the recession.
Employment Industry Growth
| Industry | 2018 | 2009 | Pct Chg |
|---|---|---|---|
| General medical and surgical hospitals | 103,274 | 81,648 | 0.0% |
| Temporary help services | 93,113 | 51,867 | 0.0% |
| Offices of physicians | 65,577 | 55,364 | 0.0% |
| Management of companies and enterprises | 50,775 | 26,112 | 0.0% |
| Supermarkets and other grocery stores | 48,176 | 44,316 | 0.0% |
| General freight trucking long-distance | 43,248 | 38,610 | 0.0% |
The top industry that has had the largest increase in the number of employees is the Temporary help services industry, which has increased by 0.0% since 2009. The top industry that has has the largest decline in the number of employees is the Supermarkets and other grocery stores industry, which has declined by 0.0% since the recession.
Weekly Wage Growth By Industry
| Industry | 2018 | 2009 | Pct Chg |
|---|---|---|---|
| Cable and other subscription programming | $6,246 | $1,622 | 0.0% |
| Portfolio management | $5,063 | $7,712 | 0.0% |
| Spectator sports | $4,852 | $2,980 | 0.0% |
| Animal food manufacturing | $3,422 | $1,722 | 0.0% |
| Miscellaneous intermediation | $3,340 | $1,867 | 0.0% |
| Musical groups and artists | $3,135 | $1,501 | 0.0% |
The top industry that has had the strongest wage growth is the Cable and other subscription programming industry, which has increased by 0.0% since 2009. The top industry that has has the largest wage decline is the Portfolio management industry, which has declined by 0.0% since the recession.
Company Size
Business Growth By Company Size
The biggest percentage change in the number of businesses has been in businesses with 500 to 999 employees. The number of businesses with this number of employees has grown from 197 to 260, which is an increase of 32.0%.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 24,837 to 27,832, which is an increase of 12.1%.
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 | 85,785 | 74,926 | 14.5% |
| 5-9 Employees | 27,832 | 24,837 | 12.1% |
| 10-19 Employees | 19,667 | 16,912 | 16.3% |
| 20-49 Employees | 14,513 | 11,295 | 28.5% |
| 50-99 Employees | 4,700 | 3,947 | 19.1% |
| 100-249 Employees | 3,013 | 2,481 | 21.4% |
| 250-499 Employees | 764 | 622 | 22.8% |
| 500-999 Employees | 260 | 197 | 32.0% |
| More Than 1,000 Employees | 134 | 112 | 19.6% |
Employment Growth by Company Size
The biggest percentage change in the number of employees has been in businesses with 500 to 999 employees. The number of employees in companies this size has grown from 134,683 to 175,249, which is an increase of 30.1%.The smallest percentage change in the number of employees has been in businesses with fewer than 5 employees. The number of employees with this number of employees has grown from 130,020 to 145,371, which is an increase of 11.8%.
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 | 145,371 | 130,020 | 11.8% |
| 5-9 Employees | 182,759 | 163,417 | 11.8% |
| 10-19 Employees | 263,842 | 226,809 | 16.3% |
| 20-49 Employees | 428,609 | 334,782 | 28.0% |
| 50-99 Employees | 320,914 | 269,892 | 18.9% |
| 100-249 Employees | 443,958 | 365,503 | 21.5% |
| 250-499 Employees | 255,842 | 214,459 | 19.3% |
| 500-999 Employees | 175,249 | 134,683 | 30.1% |
| More Than 1,000 Employees | 295,644 | 251,336 | 17.6% |
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 $707 to $996, which is an increase of 40.9%.The smallest percentage change in the average weekly wage has been in businesses with 20 to 49 employees. The average weekly wage in companies this size has grown from $677 to $823, which is an increase of 21.6%.
Table: Change Average Weekly Wage by Size Since the Recession:
| Company Size | Q1 2018 | Q1 2010 | % Change |
|---|---|---|---|
| Fewer than 5 Employees | $996 | $707 | 40.9% |
| 5-9 Employees | $809 | $625 | 29.4% |
| 10-19 Employees | $819 | $633 | 29.4% |
| 20-49 Employees | $823 | $677 | 21.6% |
| 50-99 Employees | $901 | $698 | 29.1% |
| 100-249 Employees | $961 | $765 | 25.6% |
| 250-499 Employees | $1,010 | $814 | 24.1% |
| 500-999 Employees | $1,163 | $925 | 25.7% |
| More Than 1,000 Employees | $1,515 | $1,092 | 38.7% |
Data Sources
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