Tennessee Q2, 2019 Employment Statistics- 166,404 employers, up 3.4% from 160,928
- 3,038,197 employees, up 2.0% from 2,979,820
- $964 average weekly wage, up 3.3% from $933
- The average weekly wage is 12.0% below the national average
- The cost of living is 11.3% below the national average
Employer & Employee Growth
In the last year, the number of employers in the state increased by 5,476, which is an increase of 3.4%. The number of employees in Tennessee increased by 58,377, an increase of 2.0%. During this same period, the average weekly wage increased by $31, an increase of 3.3%.
The number of private employers increased since last years' Q1. The number of private businesses increased by 5,474 or 3.5%. Growth in private businesses in Tennessee grew faster than the national average of 2.9%. The number of employees in these businesses increased since last years' Q1, increasing by 56,952 or 2.2%. The growth in employees of private businesses in Tennessee 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 $33 or 3.6%. Growth in average weekly wage of employees of private businesses in Tennessee grew slower 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 13.6% of the businesses in the state. The number of businesses in this sector increased by 1.0%. Professional services (11.7%), which increased by 6.2% and Other services (9.4%), which increased by 1.5%, round out the 3 largest sectors.
Table: Sectors by Year-over-Year Qtly Business Change %
| Sector | Change Biz | % Change |
|---|---|---|
| Information | 514 | 14.8% |
| Transport and warehousing | 337 | 7.4% |
| Professional services | 1,130 | 6.2% |
| Utilities | 10 | 6.0% |
| Arts and entertainment | 156 | 5.3% |
| Educational services | 86 | 4.9% |
| Company management | 59 | 4.2% |
| Real estate and rental | 242 | 4.1% |
| Finance and insurance | 405 | 4.1% |
| Accommodation and food services | 538 | 4.0% |
| Construction | 461 | 3.8% |
| Mining and oil extraction | 8 | 3.8% |
| Manufacturing | 241 | 3.4% |
| Waste services | 317 | 3.3% |
| Healthcare | 440 | 3.1% |
| Other services | 237 | 1.5% |
| Retail trade | 222 | 1.0% |
| Agriculture and forestry | 3 | 0.3% |
| Wholesale trade | 22 | 0.2% |
Employees by Sector
The sector with the greatest number of employees in the state is Healthcare with 12.4% of the employees in the state, had an increase in employees of 1.2% in the last year. Manufacturing (11.7%), increased by 1.8% and Retail trade (10.9%), decreased by 1.1%, round out the top 3 sectors.Table: Sectors by Year-over-Year Qtly Employee Change %
| Sector | Employee Change | % Change |
|---|---|---|
| Transport and warehousing | 12,951 | 8.1% |
| Arts and entertainment | 2,481 | 5.9% |
| Construction | 6,845 | 5.5% |
| Agriculture and forestry | 385 | 5.2% |
| Finance and insurance | 4,974 | 4.5% |
| Real estate and rental | 1,599 | 3.9% |
| Educational services | 1,858 | 3.9% |
| Mining and oil extraction | 115 | 3.3% |
| Professional services | 4,534 | 3.2% |
| Other services | 2,116 | 2.7% |
| Accommodation and food services | 7,308 | 2.4% |
| Utilities | 71 | 2.0% |
| Manufacturing | 6,270 | 1.8% |
| Waste services | 2,910 | 1.3% |
| Wholesale trade | 1,563 | 1.3% |
| Healthcare | 4,596 | 1.2% |
| Company management | 575 | 1.1% |
| Information | -513 | -1.1% |
| Retail trade | -3,831 | -1.1% |
Average Weekly Wage by Sector
The sector that pays their employees the highest is Company management paying $1,975per week compared with the state average of $961. Weekly wages in this sector rose by $136 or 7.4%. Finance and insurance ($1,527), rose by $60 or 4.1% and Professional services ($1,478) increased by $77 or 5.5% round out the 3 largest sectors.Table: Sectors by Year-over-Year Weekly Wage Change %
| Sector | Wage Change | Change % |
|---|---|---|
| Waste services | $62 | 9.1% |
| Company management | $136 | 7.4% |
| Real estate and rental | $58 | 6.2% |
| Professional services | $77 | 5.5% |
| Utilities | $68 | 5.0% |
| Accommodation and food services | $16 | 4.3% |
| Finance and insurance | $60 | 4.1% |
| Educational services | $36 | 4.0% |
| Arts and entertainment | $26 | 3.5% |
| Other services | $23 | 3.5% |
| Construction | $35 | 3.4% |
| Wholesale trade | $42 | 3.2% |
| Retail trade | $15 | 2.5% |
| Transport and warehousing | $24 | 2.3% |
| Healthcare | $21 | 2.1% |
| Manufacturing | $14 | 1.2% |
| Mining and oil extraction | $15 | 1.1% |
| Agriculture and forestry | $-3 | -0.5% |
| Information | $-40 | -2.9% |
Leading Industries
Businesses by Industry
Each broad sector is made up of specific industries. In Tennessee. the industry with the most businesses is Restaurants and other eating places with 6.7% of the businesses in the state (with 11,112 employing 252,800 workers). The Restaurants and other eating places industry had 466 more businesses, an increase of 4.4% in the last year. Private households (4.1% of businesses) had 39 fewer businesses, a decline of 0.6% and Computer systems design and related services (2.7% of businesses) added 368 businesses, an increase of 8.9% round out the 3 industries with the most businesses.Table: Top 7 Industries by Business Change %
| Industry | Business Chg | % Change |
|---|---|---|
| Broadwoven fabric mills | 4 | 100.0% |
| Wheat farming | 2 | 66.7% |
| Industrial design services | 6 | 54.5% |
| Other gasoline stations | 80 | 54.4% |
| Sea coastal and great lakes transportation | 3 | 50.0% |
| Pipeline transportation of crude oil | 1 | 50.0% |
| Crude petroleum extraction | 4 | 50.0% |
Table: Top 7 Industries by Business Change #
| Industry | Business Chg | % Change |
|---|---|---|
| Restaurants and other eating places | 466 | 4.4% |
| Management consulting services | 388 | 11.7% |
| Computer systems design and related services | 368 | 8.9% |
| Software publishers | 340 | 40.4% |
| Offices of physicians | 149 | 3.7% |
| Engineering services | 100 | 8.1% |
| Residential building construction | 94 | 4.0% |
Employees by Industry
Private households (4.1% of employees) had 39 fewer employees, a decline of 0.6% and Computer systems design and related services (2.7% ofemployees) added 368 employees, an increase of 8.9% round out the 3 industries with the most employees.Table: Top 7 Industries by Employee Change %
| Industry | Emp Chg | % Change |
|---|---|---|
| Broilers and meat type chicken production | 80 | 362.8% |
| Other sound recording industries | 110 | 158.4% |
| Other financial vehicles | 76 | 117.6% |
| Paint and coating manufacturing | 600 | 103.5% |
| Sports and recreation instruction | 1,858 | 92.1% |
| Audio and video equipment manufacturing | 179 | 80.6% |
| Scenic and sightseeing transportation other | 27 | 72.0% |
Table: Top 7 Industries by Employee Change #
| Industry | Emp Chg | % Change |
|---|---|---|
| Restaurants and other eating places | 6,035 | 2.4% |
| General warehousing and storage | 5,647 | 17.7% |
| Direct life and health insurance carriers | 3,472 | 28.6% |
| General freight trucking long-distance | 2,824 | 6.7% |
| Hotels and motels except casino hotels | 2,546 | 7.2% |
| Telephone call centers | 1,955 | 14.3% |
| Electrical and wiring contractors | 1,862 | 10.7% |
Average Weekly Wage by Industry
The industry that pays their employees the most is Other farm product raw material merch. whls., paying $4,529 compared with the state average of $961. Employees in the Other farm product raw material merch. whls. industry were paid $543 more per week, an increase of 13.6% in the last year. Portfolio management ($3,939) and Securities brokerage ($3,056) round out the top 3 industries. Employees in the Portfolio management ($3,939 per week) were paid $494 less per week, a decline of 11.1% and Securities brokerage ($3,056 per week) were paid $16 less per week, a decline of 0.5% round out the 3 industries that pay their employees the most.Table: Top 7 Industries by Wage Change %
| Industry | Wkly Chg | % Change |
|---|---|---|
| Broilers and meat type chicken production | $525 | 96.5% |
| Independent artists writers and performers | $1,093 | 89.5% |
| Jewelry and silverware manufacturing | $361 | 83.6% |
| Business and secretarial schools | $382 | 77.6% |
| Commodity contracts dealing | $590 | 54.1% |
| Industrial design services | $377 | 46.4% |
| All other support services | $697 | 46.4% |
Table: Top 7 Industries by Wage Change $
| Industry | Wkly Chg | % Change |
|---|---|---|
| Independent artists writers and performers | $1,093 | 89.5% |
| All other support services | $697 | 46.4% |
| Reinsurance carriers | $648 | 41.6% |
| Commodity contracts dealing | $590 | 54.1% |
| Lessors of nonfinancial intangible assets | $562 | 46.3% |
| Other farm product raw material merch. whls. | $543 | 13.6% |
| Broilers and meat type chicken production | $525 | 96.5% |
Company Size
Tennessee Businesses by Size
The solopreneur company, has the most businesses in Tennessee by far. 55.2% of all businesses in the state have fewer than 5 employees. The 152,768 small businesses in the state represent 94.4% of all private businesses. The national average is 92.4%. (Small businesses have fewer than 50 employees, Solopreneurs employ fewer than 5.) Tennessee added 6,662 businesses in the last year, an increase of 4.3% as compared to the national average of 3.0%.Small businesses are defined as companies with fewer than 50 employees. These small businesses added 6,473 businesses in the last year, which is an increase of 4.4% 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 187 businesses in the last year, which is an increase of 2.2% as compared to the national average of 1.3%.
Large businesses are defined as companies with more than 500 employees. These large businesses added 2 businesses in the last year, which is an increase of 0.5% as compared to the national average of 2.1%.
Tennessee Employees by Business Size
Tennessee added 175,862 employees in the last year, an increase of 7.4% as compared to the national average of 5.2%. Small businesses are defined as companies with fewer than 50 employees. These small businesses added 87,584 businesses in the last year, which is an increase of 134.4% 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 69,990 employees in the last year, which is an increase of 7.2% as compared to the national average of 4.7%.
Large businesses are defined as companies with more than 500 employees. Large businesses added 18,288 employees in the last year, which is an increase of 4.0% as compared to the national average of 9.2%.
Tennessee Avg Weekly Wages by Business Size
The smallest companies in Tennessee (those with fewer than 5 employees) pay workers 3.2% more than the national average ($1,038 per week as compared to the national average of $1,005 per week). The largest companies in Tennessee (those with more than 1,000 employees) pay 29.7% workers below the national average ($1,475 per week as compared to the national average of $1,913 per week).Average weekly wages in small businesses added $118 per week in the last year, which is an increase of 3.4% as compared to the national average of 3.1%. Employees of mid-sized businesses added $63 in wages per week in the last year, which is an increase of 2.2% as compared to the national average of 1.3%.
Employees of large businesses added $31 of weekly wages in the last year, which is an increase of 1.2% 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 | 11,112 | 4.4% |
| Private households | 6,821 | -0.6% |
| Computer systems design and related services | 4,488 | 8.9% |
| Offices of physicians | 4,177 | 3.7% |
| Management consulting services | 3,700 | 11.7% |
| Gasoline stations with convenience stores | 3,262 | 1.1% |
| Insurance agencies and brokerages | 2,760 | 3.1% |
| Offices of lawyers | 2,531 | 0.5% |
| Residential building construction | 2,468 | 4.0% |
| Accounting and bookkeeping services | 2,466 | 2.6% |
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 | 252,800 | 2.4% |
| General medical and surgical hospitals | 101,640 | -1.3% |
| Temporary help services | 90,443 | -0.4% |
| Offices of physicians | 66,284 | 1.4% |
| Management of companies and enterprises | 51,579 | 1.1% |
| Supermarkets and other grocery stores | 48,134 | -0.1% |
| General freight trucking long-distance | 45,039 | 6.7% |
| Couriers and express delivery services | 40,267 | 3.4% |
| General merchandise stores including warehouse clubs and supercenters | 39,596 | 2.3% |
| Hotels and motels except casino hotels | 37,752 | 7.2% |
The table below illustrates the largest industries in the state, by highest wages:
Table: Top 10 Industries by Weekly Wage
| Industry | Wkly Wages | % Change |
|---|---|---|
| Other farm product raw material merch. whls. | $4,529 | 13.6% |
| Portfolio management | $3,939 | -11.1% |
| Securities brokerage | $3,056 | -0.5% |
| Other financial vehicles | $3,034 | -33.3% |
| Investment banking and securities dealing | $2,851 | -0.5% |
| Miscellaneous intermediation | $2,581 | -4.4% |
| Fruit and vegetable canning and drying | $2,533 | 16.4% |
| Record production and distribution | $2,359 | -0.3% |
| Independent artists writers and performers | $2,314 | 89.5% |
| Spectator sports | $2,305 | -17.1% |
Data Sources
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