- 110,298 more businesses
- 1,785,102 more employees
- 48.6% increase in total wages
- $10,376 in additional annual wages per employee
- 22.5% increase in wages per employee
Since 2009, the number of businesses in Texas has grown by 20.1% (10.5% greater than the national average of 9.5%). Employment in Texas has grown by 21.3% (6.9% greater than the national average of 14.4%). Wages have grown by 22.5% since the end of the Great Recession. This wage growth is the same as the national average.
The average weekly wage in Texas of $1,088 is 2.3% above the national average of $1,064. The gap between the national average has widened from 2.4% a widening of 0.2% since the end of the recession.
The Professional services sector has the most businesses in the state of Texas. Since the end of the recession, the number of businesses has grown from 68,496 to 89,201, a gain of 30.2%. The table below illustrates the change in number of businesses in each sector:
|Accommodation and food services||53,190||41,550||28.0%|
|Finance and insurance||40,252||34,688||16.0%|
|Real estate and rental||31,027||25,558||21.4%|
|Transport and warehousing||19,912||15,681||27.0%|
|Agriculture and forestry||10,219||9,400||8.7%|
|Mining and oil extraction||9,361||8,532||9.7%|
|Arts and entertainment||7,554||5,933||27.3%|
While the Professional services sector is the largest, the sector that experienced the greatest expansion in number of businesses is the Healthcare sector which grew by 49.3%, followed by Educational services at 45.5%. The Information sector contracted by 3.6% since the recession making it the only one that lost businesses. Manufacturing added 900 businesses expanding by 3.9%.
The Healthcare sector employs the most workers in the state of Texas . The number of jobs has increased 27.0% since the end of the recession from 1,136,058 to 1,443,320. The table below illustrates the change in employment in each sector:
|Accommodation and food services||1,178,785||895,487||31.6%|
|Finance and insurance||526,388||445,722||18.1%|
|Transport and warehousing||468,912||354,386||32.3%|
|Mining and oil extraction||220,801||202,720||8.9%|
|Real estate and rental||213,940||175,242||22.1%|
|Arts and entertainment||138,977||109,511||26.9%|
|Agriculture and forestry||60,309||58,138||3.7%|
The Information sector is the only sector lost workers since the recession contracting by 1.6% (equal to 3,363 workers). The Manufacturing sector added about 13,000 workers which was an increase of 1.7%. The Retail trade sector employs the 2nd most workers added 185,000 employees expanding by 16.1%. The Waste services and Professional services sectors expanded 29.6% and 32.5% respectively.
The sector with the highest wages is the Company management sector at $2,537. Prior to the recession, the sector’s average weekly wage was $1,792. This is an increase of $745 per week or 41.6%. The table below illustrates the change in average weekly wages in each sector:
|Mining and oil extraction||$2,440||$2,156||13.2%|
|Finance and insurance||$1,691||$1,257||34.5%|
|Real estate and rental||$1,180||$847||39.3%|
|Transport and warehousing||$1,145||$942||21.5%|
|Agriculture and forestry||$694||$533||30.2%|
|Arts and entertainment||$668||$568||17.6%|
|Accommodation and food services||$378||$310||21.9%|
Employees of every sector experienced increases in wages with Mining and oil extraction increasing the least at 13.2%. The Real estate and rental sector increased the second most at 39.3% increasing from $847 to $1,180 per week and the Finance and insurance sector rose 34.5%.
Each of the sectors in the previous section are made up of a number of detailed industries. The top industry that has experienced the most growth (as a percent) since the recession is Services for the elderly and disabled which has grown 1,504.0%. The top industry that has contracted the most is Private households which has contracted by 13.1% in the years since the recession. The table below illustrates the 10 largest industries and their change in the number of businesses since the recession:
|Offices of physicians||21,227||18,904||12.3%|
|Computer systems design and related services||20,764||12,406||67.4%|
|Management consulting services||16,318||10,935||49.2%|
|Services for the elderly and disabled||15,318||955||1,504.0%|
|Offices of lawyers||13,645||12,709||7.4%|
|Insurance agencies and brokerages||12,448||10,016||24.3%|
|Wholesale trade agents and brokers||12,403||12,340||0.5%|
|Accounting and bookkeeping services||10,914||9,234||18.2%|
|Offices of dentists||10,685||7,924||34.8%|
The industry that has experienced the most growth in number of employees (as a percent) since the recession is Computer systems design and related services which has grown 77.6%. The industry that has added the lowest percentage of employees is Commercial bankingwhich has has grown by 7.0% in the years since the recession. The table below illustrates the 10 largest industries and their change in the number of employees since the recession:
|General medical and surgical hospitals||298,510||263,385||13.3%|
|Home health care services||263,535||212,894||23.8%|
|Temporary help services||234,183||166,539||40.6%|
|Offices of physicians||221,296||182,083||21.5%|
|Supermarkets and other grocery stores||198,464||166,801||19.0%|
|Computer systems design and related services||174,358||98,202||77.6%|
|Support activities for mining||133,494||108,054||23.5%|
|Management of companies and enterprises||128,109||76,423||67.6%|
|Hotels and motels, except casino hotels||116,261||94,646||22.8%|
Since the recession ended, the industry that has experienced the greatest increase in average weekly pay per employee (as a percent) is Trusts, estates, and agency accounts which has grown 425.0%. The average weekly wage in the Securities and commodity exchangesindustry has grown by 21.2% since the recession. This is the industry with the lowest wage growth among top industries in Texas . The table below illustrates the 10 largest industries and their change in the average weekly wages since the recession:
|Trusts, estates, and agency accounts||$6,594||$1,256||425.0%|
|Investment banking and securities dealing||$4,527||$2,704||67.4%|
|Other financial vehicles||$4,508||$2,752||63.8%|
|Commodity contracts brokerage||$4,208||$2,506||67.9%|
|Securities and commodity exchanges||$3,722||$3,071||21.2%|
|Commodity contracts dealing||$3,670||$1,759||108.6%|
|Pipeline transportation of natural gas||$3,541||$2,713||30.5%|
|Telephone apparatus manufacturing||$3,362||$2,207||52.3%|
Please note, during the comparison period the NAICS coding has had changes made to it. For proper comparisons we are only including industries that have NOT been affected by these changes.
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 381 to 525, which is an increase of 37.8%.
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 99,941 to 113,089, which is an increase of 13.2%.
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||376,850||306,070||23.1%|
|More Than 1,000 Employees||525||381||37.8%|
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 763,144 to 1,044,678, which is an increase of 36.9%.
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 657,342 to 745,342, which is an increase of 13.4
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||631,872||534,802||18.2%|
|More Than 1,000 Employees||1,044,678||763,144||36.9%|
The biggest percentage change in the average weekly wage has been in businesses with 1,000 or more employees. The average weekly wage in companies this size has grown from $1,373 to $1,858, which is an increase of 35.3%.
The smallest percentage change in the average weekly wage has been in businesses with 250 to 499 employees. The average weekly wage in companies this size has grown from $1,053 to $1,332, which is an increase of 26.5%.
Table: Change Average Weekly Wage by Size Since the Recession:
|Company Size||Q1 2018||Q1 2010||% Change|
|Fewer than 5 Employees||$1,043||$795||31.2%|
|More Than 1,000 Employees||$1,858||$1,373||35.3%|
This page, created and maintained by Kurt Tietjen, Founder of Stavera, High Peak Media & HomeGearWorks.com. Kurt Tietjen has spent the bulk of his career working with and using data to grow businesses. As the SVP of Operations at TheStreet and the head of Audience & Product at Purch, data helped us create products and content strategies to grow the businesses. My LinkedIn Profile is here.