Tennessee Q1, 2019 Employment Statistics- 166,151 employers, up 4.2% from 159,481
- 2,990,209 employees, up 2.1% from 2,927,247
- $996 average weekly wage, up 1.9% from $977
- The average weekly wage is 15.9% below the national average
- The cost of living is 10.5% below the national average
Employer & Employee Growth
In the last year, the number of employers in the state increased by 6,670, which is an increase of 4.2%. The number of employees in Tennessee increased by 62,962, an increase of 2.1%. During this same period, the average weekly wage increased by $19, an increase of 1.9%.
The number of private employers increased since last years' Q1. The number of private businesses increased by 6,662 or 4.3%. Growth in private businesses in Tennessee grew faster than the national average of 3.0%. The number of employees in these businesses increased since last years' Q1, increasing by 58,621 or 2.3%. The growth in employees of private businesses in Tennessee was faster than the national average of 1.7%.
The average weekly wage of employees of private businesses increased since last years' Q1. The averge weekly wage increased by $20 or 2.0%. Growth in average weekly wage of employees of private businesses in Tennessee grew slower than the national average of 3.0%.
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 1.8%. Professional services (11.6%), which increased by 6.5% and Other services (9.6%), which increased by 4.9%, round out the 3 largest sectors.
Table: Sectors by Year-over-Year Qtly Business Change %
| Sector | Change Biz | % Change |
|---|---|---|
| Information | 481 | 14.2% |
| Utilities | 17 | 10.6% |
| Transport and warehousing | 370 | 8.3% |
| Educational services | 112 | 6.5% |
| Professional services | 1,186 | 6.5% |
| Arts and entertainment | 176 | 6.0% |
| Company management | 84 | 6.0% |
| Other services | 748 | 4.9% |
| Waste services | 449 | 4.8% |
| Finance and insurance | 430 | 4.4% |
| Construction | 511 | 4.3% |
| Real estate and rental | 244 | 4.2% |
| Accommodation and food services | 528 | 4.0% |
| Manufacturing | 269 | 3.9% |
| Healthcare | 502 | 3.5% |
| Mining and oil extraction | 7 | 3.4% |
| Retail trade | 395 | 1.8% |
| Wholesale trade | 125 | 1.0% |
| Agriculture and forestry | 7 | 0.8% |
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 1.0% in the last year. Manufacturing (11.8%), increased by 2.0% and Retail trade (11.1%), decreased by 0.1%, round out the top 3 sectors.Table: Sectors by Year-over-Year Qtly Employee Change %
| Sector | Employee Change | % Change |
|---|---|---|
| Arts and entertainment | 2,469 | 7.3% |
| Transport and warehousing | 11,131 | 7.0% |
| Construction | 6,521 | 5.5% |
| Finance and insurance | 5,021 | 4.6% |
| Utilities | 126 | 3.6% |
| Mining and oil extraction | 123 | 3.6% |
| Real estate and rental | 1,393 | 3.5% |
| Professional services | 4,597 | 3.3% |
| Accommodation and food services | 8,328 | 2.9% |
| Other services | 1,959 | 2.5% |
| Agriculture and forestry | 177 | 2.5% |
| Waste services | 4,968 | 2.3% |
| Educational services | 1,107 | 2.3% |
| Wholesale trade | 2,394 | 2.0% |
| Manufacturing | 6,864 | 2.0% |
| Healthcare | 3,574 | 1.0% |
| Retail trade | -437 | -0.1% |
| Company management | -280 | -0.5% |
| Information | -1,489 | -3.3% |
Average Weekly Wage by Sector
The sector that pays their employees the highest is Company management paying $2,751per week compared with the state average of $1,009. Weekly wages in this sector rose by $230 or 9.1%. Finance and insurance ($1,850), rose by $23 or 1.3% and Professional services ($1,631) declined by $53 or 3.1% round out the 3 largest sectors.Table: Sectors by Year-over-Year Weekly Wage Change %
| Sector | Wage Change | Change % |
|---|---|---|
| Company management | $230 | 9.1% |
| Waste services | $49 | 7.2% |
| Educational services | $49 | 5.7% |
| Construction | $50 | 5.0% |
| Real estate and rental | $45 | 4.5% |
| Accommodation and food services | $15 | 4.2% |
| Other services | $26 | 4.0% |
| Utilities | $59 | 3.9% |
| Agriculture and forestry | $24 | 3.8% |
| Retail trade | $13 | 2.2% |
| Wholesale trade | $31 | 2.2% |
| Healthcare | $17 | 1.8% |
| Finance and insurance | $23 | 1.3% |
| Manufacturing | $13 | 1.1% |
| Transport and warehousing | $8 | 0.8% |
| Arts and entertainment | $-20 | -2.1% |
| Mining and oil extraction | $-43 | -2.7% |
| Professional services | $-53 | -3.1% |
| Information | $-92 | -5.9% |
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 6.6% of the businesses in the state (with 11,031 employing 242,913 workers). The Restaurants and other eating places industry had 436 more businesses, an increase of 4.1% in the last year. Private households (4.2% of businesses) added 444 businesses, an increase of 6.7% and Computer systems design and related services (2.7% of businesses) added 365 businesses, an increase of 9.0% 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% |
| Automobile and light truck manufacturing | 7 | 77.8% |
| Other performing arts companies | 3 | 60.0% |
| Other gasoline stations | 84 | 56.8% |
| Industrial design services | 6 | 54.5% |
| Scenic and sightseeing transportation land | 8 | 53.3% |
| Sea coastal and great lakes transportation | 3 | 50.0% |
Table: Top 7 Industries by Business Change #
| Industry | Business Chg | % Change |
|---|---|---|
| Private households | 444 | 6.7% |
| Restaurants and other eating places | 436 | 4.1% |
| Management consulting services | 405 | 12.5% |
| Computer systems design and related services | 365 | 9.0% |
| Software publishers | 302 | 39.6% |
| General merchandise stores including warehouse clubs and supercenters | 184 | 13.2% |
| Offices of physicians | 151 | 3.7% |
Employees by Industry
Private households (4.2% of employees) added 444 employees, an increase of 6.7% and Computer systems design and related services (2.7% ofemployees) added 365 employees, an increase of 9.0% 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 | 77 | 341.8% |
| Other sound recording industries | 101 | 164.6% |
| Audio and video equipment manufacturing | 205 | 108.0% |
| Paint and coating manufacturing | 599 | 106.0% |
| Sports and recreation instruction | 1,325 | 70.3% |
| Local messengers and local delivery | 586 | 62.1% |
| Stationery product manufacturing | 400 | 57.3% |
Table: Top 7 Industries by Employee Change #
| Industry | Emp Chg | % Change |
|---|---|---|
| Restaurants and other eating places | 6,288 | 2.6% |
| Direct life and health insurance carriers | 3,439 | 28.4% |
| General freight trucking long-distance | 3,214 | 7.7% |
| General warehousing and storage | 3,047 | 9.1% |
| Hotels and motels except casino hotels | 2,639 | 8.0% |
| Telephone call centers | 2,627 | 19.4% |
| Couriers and express delivery services | 1,437 | 3.7% |
Average Weekly Wage by Industry
Private households ($4) and Computer systems design and related services ($3) round out the top 3 industries. Employees in the Private households ($4 per week) were paid $444 more per week, an increase of 6.7% and Computer systems design and related services ($3 per week) were paid $365 more per week, an increase of 9.0% 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 | $776 | 148.9% |
| Document preparation services | $924 | 111.5% |
| Cut and sew apparel contractors | $523 | 109.6% |
| Floor covering stores | $868 | 99.7% |
| Lessors of nonfinancial intangible assets | $1,570 | 98.7% |
| Stationery product manufacturing | $589 | 60.4% |
| Accessories and other apparel manufacturing | $242 | 57.1% |
Table: Top 7 Industries by Wage Change $
| Industry | Wkly Chg | % Change |
|---|---|---|
| Other financial vehicles | $1,595 | 36.5% |
| Lessors of nonfinancial intangible assets | $1,570 | 98.7% |
| Document preparation services | $924 | 111.5% |
| Floor covering stores | $868 | 99.7% |
| Broilers and meat type chicken production | $776 | 148.9% |
| Coal and other mineral merchant wholesalers | $651 | 28.2% |
| Stationery product manufacturing | $589 | 60.4% |
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 92.9%. (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%.
Data Sources
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