- 827,716 more businesses
- 15,439,461 more employees
- 40.2% increase in total wages
- $10,182 in additional annual wages per employee
- 22.5% increase in wages per employee
Since 2009, the number of businesses in U.S. TOTAL has grown by 9.5%, employment in U.S. TOTAL has grown by 14.4% and wages have grown by 22.5% since the end of the Great Recession.
The Healthcare sector has the most businesses in the state of U.S. TOTAL. Since the end of the recession, the number of businesses has grown from 775,749 to 1,532,134, a gain of 97.5%. The table below illustrates the change in number of businesses in each sector:
|Accommodation and food services||697,728||612,716||13.9%|
|Finance and insurance||484,801||477,405||1.5%|
|Real estate and rental||385,826||358,929||7.5%|
|Transport and warehousing||242,932||218,444||11.2%|
|Arts and entertainment||141,502||124,950||13.2%|
|Agriculture and forestry||104,445||95,001||9.9%|
|Mining and oil extraction||32,477||31,140||4.3%|
There are only a few sectors that experienced a reduction in the number of businesses operating in the US since the end of the recession. The largest decline is in the Other services sector, which declined by 31.6%. This is likely due to some combination of reassignments into other categories. The other two sectors had fairly small declines in number of businesses with the Wholesale trade sector declining 0.9% and the Manufacturing sector declining 1.3%.
Outside of the aforementioned Healthcare sector increase, several other sectors had significant growth in the number of businesses operating. The Professional services sector added over 175,000 businesses as it grew by 17.4% since 2009. Two other sectors added a significant number of businesses during this period, Accommodation and food services increased by 13.9% and Waste services increased by 15.1%.
The Healthcare sector employs the most workers in the state of U.S. TOTAL. The number of jobs has increased 21.5% since the end of the recession from 15,902,253 to 19,322,491. The table below illustrates the change in employment in each sector:
|Accommodation and food services||13,606,761||11,079,375||22.8%|
|Finance and insurance||5,908,709||5,618,477||5.2%|
|Transport and warehousing||4,947,369||3,985,037||24.1%|
|Arts and entertainment||2,293,872||1,921,653||19.4%|
|Real estate and rental||2,179,696||1,971,344||10.6%|
|Agriculture and forestry||1,261,312||1,142,192||10.4%|
|Mining and oil extraction||623,934||641,366||-2.7%|
Three sectors have had declines in the number of people employed by the sector since 2009. The biggest decrease was in the Information sector which declined 0.5%. The two sectors with the fewest employees declined since the end of the recession with Mining and oil extraction declining by 2.7% and the Utilities sector declining by 1.6%.
As previously noted, the Healthcare sector had significant employment growth since 2009. Several other top sectors had similar or better growth. The sector with the 5th most employees, Waste services had the highest growth rate at 26.7% adding nearly 2 million employees during the period. The two other top sectors that grew faster than Healthcare are Accommodation and food services which grew 22.8% and Transport and warehousing which grew 24.1% since 2009.
The sector with the highest wages is the Company management sector at $2,305. Prior to the recession, the sector’s average weekly wage was $1,758. This is an increase of $547 per week or 31.1%. The table below illustrates the change in average weekly wages in each sector:
|Finance and insurance||$2,042||$1,534||33.1%|
|Mining and oil extraction||$1,964||$1,645||19.4%|
|Real estate and rental||$1,096||$813||34.8%|
|Transport and warehousing||$995||$824||20.8%|
|Arts and entertainment||$726||$608||19.4%|
|Agriculture and forestry||$663||$501||32.3%|
|Accommodation and food services||$399||$321||24.3%|
The wage growth since 2009 is difficult to assess, although the fastest growing sectors, from an employment perspective are in the bottom half of wages paid to employees. For example, Healthcare is 13th out of 19 sectors in average wages. This sector had the slowest average wage growth since the end of the recession at 13.6%. Waste services, which had the 2nd fastest employment growth since 2009 had lower than average wage growth (21.5%) and ranks 14th in average wages. The Accommodation and food services sector added over 2.5 million jobs since 2009, had above average wage growth (24.3%) but has the worst pay of any sector — 33.5% lower than the next sector, Retail trade.
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 1,393.2%. The top industry that has contracted the most is Private households which has contracted by 63.5% 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:
|Services for the elderly and disabled||719,583||48,190||1,393.2%|
|Computer systems design and related services||260,712||185,762||40.3%|
|Offices of physicians||214,428||214,843||-0.2%|
|Wholesale trade agents and brokers||211,746||222,545||-4.9%|
|Management consulting services||194,951||149,520||30.4%|
|Residential building construction||183,098||197,934||-7.5%|
|Offices of lawyers||175,225||173,211||1.2%|
|Insurance agencies and brokerages||141,767||129,139||9.8%|
|Accounting and bookkeeping services||141,351||129,247||9.4%|
The industry that has experienced the most growth in number of employees (as a percent) since the recession is Services for the elderly and disabled which has grown 172.5%. The industry that has lost the most employees is Nursing care facilities, skilled nursing which has contracted by 1.5% 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||4,670,249||4,339,758||7.6%|
|Temporary help services||2,885,979||1,806,714||59.7%|
|Offices of physicians||2,572,041||2,281,265||12.7%|
|Supermarkets and other grocery stores||2,539,666||2,339,500||8.6%|
|Management of companies and enterprises||2,278,042||1,855,139||22.8%|
|Computer systems design and related services||2,046,153||1,413,022||44.8%|
|Services for the elderly and disabled||1,720,300||631,277||172.5%|
|Nursing care facilities, skilled nursing||1,617,065||1,641,479||-1.5%|
|Hotels and motels, except casino hotels||1,603,660||1,401,184||14.5%|
|Home health care services||1,407,028||1,027,612||36.9%|
Since the recession ended, the industry that has experienced the greatest increase in average weekly pay per employee (as a percent) is Internet publishing and web search portals which has grown 100.7%. The average weekly wage in the Commodity contracts dealing industry has grown by 24.8% since the recession. This is the industry with the lowest wage growth among top industries in U.S. TOTAL. The table below illustrates the 10 largest industries and their change in the average weekly wages since the recession:
|Investment banking and securities dealing||$5,291||$4,002||32.2%|
|Internet publishing and web search portals||$4,289||$2,137||100.7%|
|Commodity contracts dealing||$4,251||$3,407||24.8%|
|Securities and commodity exchanges||$4,189||$2,749||52.4%|
|Open-end investment funds||$3,822||$2,596||47.2%|
|Computer and peripheral equipment mfg.||$3,686||$2,225||65.7%|
|Other financial vehicles||$3,672||$2,560||43.4%|
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 4,963 to 6,197, which is an increase of 24.9%.
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 1,351,432 to 1,443,358, which is an increase of 6.8%.
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||6,105,689||5,411,715||12.8%|
|More Than 1,000 Employees||6,197||4,963||24.9%|
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 10,451,109 to 13,441,867, which is an increase of 28.6%.
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 8,852,684 to 9,478,364, which is an increase of 7.1%.
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||8,883,873||7,861,685||13.0%|
|More Than 1,000 Employees||13,441,867||10,451,109||28.6%|
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 $1,414 to $1,882, which is an increase of 33.1%.
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 $752 to $937, which is an increase of 24.6%.
Table: Change Average Weekly Wage by Size Since the Recession:
|Company Size||Q1 2018||Q1 2010||% Change|
|Fewer than 5 Employees||$975||$744||31.0%|
|More Than 1,000 Employees||$1,882||$1,414||33.1%|
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.