- 13,795 more businesses
- 247,279 more employees
- 54.6% increase in total wages
- $8,662 in additional annual wages per employee
- 22.8% increase in wages per employee
Since 2009, the number of businesses in Utah has grown by 16.9% (7.4% greater than the national average of 9.5%). Employment in Utah has grown by 25.9% (11.5% greater than the national average of 14.4%). Wages have grown by 22.8% since the end of the Great Recession. This wage growth is 0.3%, slightly bigger than the national average of 22.5%.
The average weekly wage in Utah of $897 is 15.7% below the national average of $1,064. The gap between the national average has contracted from 15.9% a narrowing of 0.2% since the end of the recession.
The Professional services sector has the most businesses in the state of Utah. Since the end of the recession, the number of businesses has grown from 10,664 to 15,207, a gain of 42.6%. The table below illustrates the change in number of businesses in each sector:
|Finance and insurance||5,792||5,521||4.9%|
|Accommodation and food services||5,778||4,841||19.4%|
|Real estate and rental||5,274||4,658||13.2%|
|Transport and warehousing||2,631||2,310||13.9%|
|Arts and entertainment||1,290||965||33.7%|
|Mining and oil extraction||551||578||-4.7%|
|Agriculture and forestry||483||387||24.8%|
The Professional services sector is not the only sector that experienced an expansion in the number of businesses. Healthcare increased by 54%, adding over 3,500 businesses in the state. Educational services and Information businesses also increased by 43.2% and 39.6% respectively. Not all sectors experienced growth during the period. Construction, the 2nd largest sector in the state declined by 4.7% and Other services contracted 7.6%.
The Retail trade sector employs the most workers in the state of Utah . The number of jobs has increased 19.2% since the end of the recession from 140,839 to 167,889. The table below illustrates the change in employment in each sector:
|Accommodation and food services||118,785||93,405||27.2%|
|Finance and insurance||64,384||54,420||18.3%|
|Transport and warehousing||53,916||41,732||29.2%|
|Arts and entertainment||24,201||17,375||39.3%|
|Real estate and rental||19,688||16,655||18.2%|
|Mining and oil extraction||8,618||10,694||-19.4%|
|Agriculture and forestry||5,599||4,456||25.7%|
Most sectors increased employment with the exception of Mining and oil extraction and Utilities with contracted 19.4% and 5.3% respectively. These two sectors are 2 of the 3 smallest employers in the state. The Manufacturing sector and Finance and insurance sectors were the two slowest expanding sectors in the top 9 employers, increasing by 14.6% and 18.3% respectively. The two sectors that expanded the most were Waste services, which increased 40.6% and Educational services which expanded 51.4%
The sector with the highest wages is the Utilities sector at $1,846. Prior to the recession, the sector’s average weekly wage was $1,549. This is an increase of $297 per week or 19.2%. The table below illustrates the change in average weekly wages in each sector:
|Mining and oil extraction||$1,473||$1,270||16.0%|
|Finance and insurance||$1,340||$993||34.9%|
|Real estate and rental||$935||$666||40.4%|
|Transport and warehousing||$932||$762||22.3%|
|Agriculture and forestry||$619||$504||22.8%|
|Arts and entertainment||$529||$425||24.5%|
|Accommodation and food services||$344||$274||25.5%|
All of the sectors in the state pay their employees better than they did at the end of the recession in 2009, the Information and Real Estate sectors had the greatest increases in pay during the period increasing by 45.3% and 40.4%. The Mining and oil extraction sector, the third best paying sector increased by 16% during the period and Educational services had the lowest increase at 10%.
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 2,600.0%. The Management consulting services industry grew by 76.7% since the recession. The top industry that has contracted the most is Wholesale trade agents and brokers which has contracted by 11.2% 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:
|Management consulting services||3,566||2,018||76.7%|
|Computer systems design and related services||3,089||2,052||50.5%|
|Residential building construction||2,349||2,462||-4.6%|
|Offices of real estate agents and brokers||2,232||2,137||4.4%|
|Services for the elderly and disabled||2,214||82||2,600.0%|
|Offices of physicians||1,884||1,723||9.3%|
|Offices of dentists||1,705||1,545||10.4%|
|Accounting and bookkeeping services||1,700||1,338||27.1%|
|Insurance agencies and brokerages||1,633||1,469||11.2%|
|Wholesale trade agents and brokers||1,600||1,801||-11.2%|
The industry that has experienced the most growth in number of employees (as a percent) since the recession is Electrical and wiring contractors which has grown 71.3%. The industry that has added the lowest percentage of employees is Management of companies and enterprises which has has grown by 3.1% 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||33,315||27,346||21.8%|
|Computer systems design and related services||25,321||15,212||66.5%|
|Temporary help services||23,234||13,569||71.2%|
|Supermarkets and other grocery stores||21,926||20,434||7.3%|
|Offices of physicians||21,415||19,267||11.1%|
|Hotels and motels, except casino hotels||19,449||16,649||16.8%|
|Management of companies and enterprises||18,177||17,633||3.1%|
|Telephone call centers||16,414||12,369||32.7%|
|Electrical and wiring contractors||14,530||8,483||71.3%|
|Other nondepository credit intermediation||12,952||8,581||50.9%|
Since the recession ended, the industry that has experienced the greatest increase in average weekly pay per employee (as a percent) is Portfolio management which has grown 102.5%. The average weekly wage in the Spectator sports industry has grown by 9.5% since the recession. This is the industry with the lowest wage growth among top industries in Utah . The table below illustrates the 10 largest industries and their change in the average weekly wages since the recession:
|Investment banking and securities dealing||$3,923||$2,673||46.8%|
|Photographic equip. merchant wholesalers||$2,206||$1,146||92.5%|
|Computer and software merchant wholesalers||$2,061||$1,439||43.2%|
|Pipeline transportation of natural gas||$2,004||$1,810||10.7%|
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 500 to 999 employees. The number of businesses with this number of employees has grown from 72 to 128, which is an increase of 77.8%.
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 12,820 to 14,605, which is an increase of 13.9%.
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||59,636||47,845||24.6%|
|More Than 1,000 Employees||61||40||52.5%|
The biggest percentage change in the number of employees has been in businesses with 500 to 999 employees. The number of employees in companies this size has grown from 48,911 to 85,609, which is an increase of 75.0%.
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 84,186 to 95,699, which is an increase of 13.7%.
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||88,938||72,162||23.2%|
|More Than 1,000 Employees||113,828||76,670||48.5%|
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 $857 to $1,318, which is an increase of 53.8%.
The smallest percentage change in the average weekly wage has been in businesses with 500 to 999 employees. The average weekly wage in companies this size has grown from $1,028 to $1,234, which is an increase of 20.0%.
Table: Change Average Weekly Wage by Size Since the Recession:
|Company Size||Q1 2018||Q1 2010||% Change|
|Fewer than 5 Employees||$996||$716||39.1%|
|More Than 1,000 Employees||$1,318||$857||53.8%|
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.