Tennessee Q4, 2019 Employment Statistics- 168,899 employers, up 3.0% from 163,910
- 3,074,358 employees, up 1.5% from 3,028,088
- $1,047 average weekly wage, up 1.6% from $1,031
- The average weekly wage is 11.6% 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 4,989, which is an increase of 3.0%. The number of employees in Tennessee increased by 46,270, an increase of 1.5%. During this same period, the average weekly wage increased by $16, an increase of 1.6%.
The number of private employers increased since last years' Q1. The number of private businesses increased by 4,883 or 3.1%. Growth in private businesses in Tennessee grew faster than the national average of 2.5%. The number of employees in these businesses increased since last years' Q1, increasing by 46,449 or 1.8%. The growth in employees of private businesses in Tennessee was faster 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 $17 or 1.6%. 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 13.3% of the businesses in the state. The number of businesses in this sector increased by 0.0%. Professional services (11.8%), which increased by 5.3% and Other services (9.6%), which increased by 2.8%, round out the 3 largest sectors.
Table: Sectors by Year-over-Year Qtly Business Change %
Sector | Change Biz | % Change |
---|---|---|
Information | 474 | 13.0% |
Transport and warehousing | 264 | 5.6% |
Professional services | 1,001 | 5.3% |
Arts and entertainment | 149 | 4.9% |
Educational services | 86 | 4.8% |
Finance and insurance | 413 | 4.2% |
Construction | 449 | 3.7% |
Real estate and rental | 209 | 3.5% |
Manufacturing | 231 | 3.2% |
Accommodation and food services | 402 | 3.0% |
Other services | 435 | 2.8% |
Company management | 39 | 2.7% |
Healthcare | 395 | 2.7% |
Waste services | 244 | 2.5% |
Utilities | 4 | 2.3% |
Agriculture and forestry | 6 | 0.7% |
Wholesale trade | 55 | 0.4% |
Retail trade | 11 | 0.0% |
Mining and oil extraction | 0 | 0.0% |
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 1.5% in the last year. Manufacturing (11.5%), decreased by 0.2% and Retail trade (11.0%), decreased by 1.3%, round out the top 3 sectors.Table: Sectors by Year-over-Year Qtly Employee Change %
Sector | Employee Change | % Change |
---|---|---|
Agriculture and forestry | 649 | 8.6% |
Transport and warehousing | 11,719 | 6.8% |
Arts and entertainment | 2,604 | 6.8% |
Finance and insurance | 5,832 | 5.3% |
Professional services | 6,943 | 4.9% |
Construction | 5,010 | 3.9% |
Mining and oil extraction | 124 | 3.5% |
Company management | 1,652 | 3.3% |
Information | 1,380 | 3.1% |
Educational services | 1,506 | 3.0% |
Utilities | 89 | 2.5% |
Other services | 1,910 | 2.4% |
Real estate and rental | 957 | 2.3% |
Accommodation and food services | 5,727 | 1.9% |
Healthcare | 5,754 | 1.5% |
Wholesale trade | 1,070 | 0.9% |
Manufacturing | -751 | -0.2% |
Waste services | -1,352 | -0.6% |
Retail trade | -4,522 | -1.3% |
Average Weekly Wage by Sector
The sector that pays their employees the highest is Company management paying $1,963per week compared with the state average of $1,055. Weekly wages in this sector declined by $170 or 8.0%. Finance and insurance ($1,741), declined by $17 or 1.0% and Professional services ($1,731) increased by $108 or 6.7% round out the 3 largest sectors.Table: Sectors by Year-over-Year Weekly Wage Change %
Sector | Wage Change | Change % |
---|---|---|
Information | $134 | 9.7% |
Professional services | $108 | 6.7% |
Utilities | $79 | 5.2% |
Real estate and rental | $55 | 5.1% |
Waste services | $29 | 4.0% |
Other services | $25 | 3.5% |
Accommodation and food services | $13 | 3.3% |
Educational services | $30 | 3.2% |
Mining and oil extraction | $39 | 2.9% |
Manufacturing | $24 | 2.0% |
Wholesale trade | $19 | 1.3% |
Construction | $15 | 1.2% |
Retail trade | $2 | 0.3% |
Healthcare | $2 | 0.2% |
Finance and insurance | $-17 | -1.0% |
Transport and warehousing | $-11 | -1.0% |
Agriculture and forestry | $-12 | -1.6% |
Company management | $-170 | -8.0% |
Arts and entertainment | $-237 | -14.9% |
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 11,219 employing 249,429 workers). The Restaurants and other eating places industry had 319 more businesses, an increase of 2.9% in the last year. Private households (4.3% of businesses) added 132 businesses, an increase of 1.9% and Computer systems design and related services (2.7% of businesses) added 266 businesses, an increase of 6.1% round out the 3 industries with the most businesses.Table: Top 7 Industries by Business Change %
Industry | Business Chg | % Change |
---|---|---|
Communication and energy wire and cable mfg. | 2 | 66.7% |
Crude petroleum extraction | 5 | 62.5% |
Other gasoline stations | 78 | 52.7% |
Pipeline transportation of crude oil | 1 | 50.0% |
Financial transaction processing and clearing | 66 | 44.9% |
All other crop farming | 11 | 44.0% |
Other financial vehicles | 10 | 43.5% |
Table: Top 7 Industries by Business Change #
Industry | Business Chg | % Change |
---|---|---|
Management consulting services | 416 | 11.9% |
Software publishers | 356 | 38.0% |
Restaurants and other eating places | 319 | 2.9% |
Computer systems design and related services | 266 | 6.1% |
Private households | 132 | 1.9% |
Residential building construction | 103 | 4.3% |
Insurance agencies and brokerages | 85 | 3.1% |
Employees by Industry
Private households (4.3% of employees) added 132 employees, an increase of 1.9% and Computer systems design and related services (2.7% ofemployees) added 266 employees, an increase of 6.1% 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 | 86 | 401.8% |
Other sound recording industries | 101 | 135.5% |
Other financial vehicles | 84 | 108.2% |
Paint and coating manufacturing | 605 | 104.4% |
Scenic and sightseeing transportation other | 38 | 103.8% |
All other crop farming | 80 | 93.8% |
Stationery product manufacturing | 471 | 70.8% |
Table: Top 7 Industries by Employee Change #
Industry | Emp Chg | % Change |
---|---|---|
General warehousing and storage | 5,978 | 16.4% |
Direct life and health insurance carriers | 4,783 | 41.6% |
Restaurants and other eating places | 4,338 | 1.8% |
Hotels and motels except casino hotels | 2,471 | 6.9% |
Management consulting services | 2,098 | 7.6% |
Couriers and express delivery services | 1,766 | 4.2% |
Software publishers | 1,712 | 48.5% |
Average Weekly Wage by Industry
The industry that pays their employees the most is Portfolio management, paying $8,505 compared with the state average of $1,055. Employees in the Portfolio management industry were paid $1,217 more per week, an increase of 16.7% in the last year. Spectator sports ($4,970) and Musical groups and artists ($4,893) round out the top 3 industries. Employees in the Spectator sports ($4,970 per week) were paid $2,062 less per week, a decline of 29.3% and Musical groups and artists ($4,893 per week) were paid $2,666 less per week, a decline of 35.3% round out the 3 industries that pay their employees the most.Table: Top 7 Industries by Wage Change %
Industry | Wkly Chg | % Change |
---|---|---|
Marketing research and public opinion polling | $2,234 | 163.3% |
Jewelry and silverware manufacturing | $386 | 82.1% |
All other professional and technical services | $991 | 78.2% |
Broilers and meat type chicken production | $444 | 73.4% |
All other personal services | $356 | 69.0% |
Commodity contracts dealing | $654 | 59.7% |
Health and welfare funds | $540 | 55.6% |
Table: Top 7 Industries by Wage Change $
Industry | Wkly Chg | % Change |
---|---|---|
Marketing research and public opinion polling | $2,234 | 163.3% |
Portfolio management | $1,217 | 16.7% |
Mortgage and nonmortgage loan brokers | $996 | 50.0% |
All other professional and technical services | $991 | 78.2% |
Miscellaneous intermediation | $940 | 25.2% |
Record production and distribution | $912 | 37.9% |
Reinsurance carriers | $799 | 42.0% |
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 91.2%. (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 | 11,219 | 2.9% |
Private households | 7,208 | 1.9% |
Computer systems design and related services | 4,630 | 6.1% |
Offices of physicians | 4,160 | 1.7% |
Management consulting services | 3,914 | 11.9% |
Gasoline stations with convenience stores | 3,253 | 0.6% |
Insurance agencies and brokerages | 2,814 | 3.1% |
Offices of lawyers | 2,544 | 0.1% |
Residential building construction | 2,515 | 4.3% |
Accounting and bookkeeping services | 2,470 | 1.3% |
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 | 249,429 | 1.8% |
General medical and surgical hospitals | 102,625 | -0.4% |
Temporary help services | 95,715 | -3.6% |
Offices of physicians | 67,937 | 2.4% |
Management of companies and enterprises | 52,272 | 3.3% |
Supermarkets and other grocery stores | 48,243 | 0.1% |
General freight trucking long-distance | 45,473 | 0.8% |
Couriers and express delivery services | 43,475 | 4.2% |
General warehousing and storage | 42,649 | 16.4% |
General merchandise stores including warehouse clubs and supercenters | 38,704 | -3.0% |
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 | $8,505 | 16.7% |
Spectator sports | $4,970 | -29.3% |
Musical groups and artists | $4,893 | -35.3% |
Miscellaneous intermediation | $4,665 | 25.2% |
Agents and managers for public figures | $3,945 | 16.5% |
Pesticide and other ag. chemical mfg. | $3,904 | -16.9% |
Independent artists writers and performers | $3,624 | 4.2% |
Marketing research and public opinion polling | $3,602 | 163.3% |
Investment banking and securities dealing | $3,601 | 10.3% |
Securities brokerage | $3,569 | 12.3% |
Data Sources
About the Writer
This page was created and is maintained by Kurt Tietjen, Founder of Stavera, High Peak Media & HomeGearWorks.com. Kurt is an executive, data scientist and software engineer who holds an MBA in Management Information Systems. In 2010, he partnered with scientists at Northwestern University to launch The Street Wire. This was one of the first mainstream uses of what would become “Narrative Science”, an artificial intelligence platform specializing in natural language generation. You can contact Kurt on LinkedIn here.