- 1,912 more businesses
- 4,666 fewer employees
- 17.8% increase in total wages
- $6,776 in additional annual wages per employee
- 18.8% increase in wages per employee
Since 2009, the number of businesses in West Virginia has grown by 4.3% (5.2% less than the national average of 9.5%). Employment in West Virginia has contracted by 0.8% (15.3% less than the national average of 14.4%). Wages have grown by 18.8% since the end of the Great Recession. This wage growth is 3.7% less than the national average of 22.5%.
The average weekly wage in West Virginia of $823 is 22.7% below the national average of $1,064. The gap between the national average has widened from 20.2% a widening of 2.5% since the end of the recession.
The Retail trade sector has the most businesses in the state of West Virginia. Since the end of the recession, the number of businesses has grown from 6,902 to 6,394, a gain of -7.4%. The table below illustrates the change in number of businesses in each sector:
|Accommodation and food services||3,634||3,535||2.8%|
|Finance and insurance||2,474||2,363||4.7%|
|Real estate and rental||1,518||1,634||-7.1%|
|Transport and warehousing||1,517||1,493||1.6%|
|Arts and entertainment||1,011||918||10.1%|
|Mining and oil extraction||789||905||-12.8%|
|Agriculture and forestry||433||456||-5.0%|
In addition to the Retail trade sector, there are a number of other sectors that have had a decline in the number of businesses since the recession. Notable are the Construction sector, which declined by 13.6%, the Mining and oil extraction sector declined by 12.8% and the Real estate and rental sector has declined by 7.1% all since the recession.
The Healthcare sector employs the most workers in the state of West Virginia. The number of jobs has increased 8.7% since the end of the recession from 108,077 to 117,502. The table below illustrates the change in employment in each sector:
|Accommodation and food services||66,504||62,738||6.0%|
|Mining and oil extraction||20,987||28,943||-27.5%|
|Transport and warehousing||18,352||16,244||13.0%|
|Finance and insurance||17,652||20,078||-12.1%|
|Arts and entertainment||7,771||9,160||-15.2%|
|Real estate and rental||6,472||7,033||-8.0%|
|Agriculture and forestry||1,806||1,910||-5.4%|
A number of sectors have suffered declines in employment since 2009. The most significant is the Mining and oil extraction sector which has lost 27.5% of the jobs a decline of nearly 8 thousand jobs. Several other sectors have suffered double-digit declines including Information, Finance and insurance as well as Utilities among others.
The sector with the highest wages is the Utilities sector at $1,763. Prior to the recession, the sector’s average weekly wage was $1,483. This is an increase of $280 per week or 18.9%. The table below illustrates the change in average weekly wages in each sector:
|Mining and oil extraction||$1,555||$1,392||11.7%|
|Finance and insurance||$1,049||$794||32.1%|
|Transport and warehousing||$932||$818||13.9%|
|Real estate and rental||$747||$598||24.9%|
|Agriculture and forestry||$583||$486||20.0%|
|Arts and entertainment||$334||$349||-4.3%|
|Accommodation and food services||$333||$267||24.7%|
The only sector that experienced a decline in average weekly pay is the Arts and entertainment sector. This sector had a decline of 4.3% in average weekly pay. The sector that grew the slowest is the Mining and oil extraction sector, which increased by 11.7%. The slow growth was largely due to the significant loss of jobs and businesses in the sector during the period.
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 Private households which has grown 103.3%. The top industry that has contracted the most is Residential building construction which has contracted by 18.7% 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||1,409||1,499||-6.0%|
|Residential building construction||1,172||1,442||-18.7%|
|Computer systems design and related services||1,038||541||91.9%|
|Gasoline stations with convenience stores||971||1,000||-2.9%|
|Wholesale trade agents and brokers||946||971||-2.6%|
|Offices of lawyers||932||986||-5.5%|
|Insurance agencies and brokerages||808||751||7.6%|
|Accounting and bookkeeping services||734||706||4.0%|
The industry that has experienced the most growth in number of employees (as a percent) since the recession is Temporary help services which has grown 59.9%. The industry that has lost the most employees is Coal mining which has contracted by 34.4% 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||38,415||37,438||2.6%|
|Offices of physicians||15,462||14,082||9.8%|
|Supermarkets and other grocery stores||10,765||11,812||-8.9%|
|Nursing care facilities, skilled nursing||9,276||9,956||-6.8%|
|Gasoline stations with convenience stores||9,192||8,562||7.4%|
|Services for the elderly and disabled||7,985||5,963||33.9%|
|Temporary help services||7,769||4,859||59.9%|
|Hotels and motels, except casino hotels||7,245||8,461||-14.4%|
|Home health care services||7,232||6,045||19.6%|
Since the recession ended, the industry that has experienced the greatest increase in average weekly pay per employee (as a percent) is Nonscheduled air transportation which has grown 82.1%. The average weekly wage in the Coal and other mineral merchant wholesalers industry has grown by 4.8% since the recession. This is the industry with the lowest change in wages a month the top industries in West Virginia . The table below illustrates the 10 largest industries and their change in the average weekly wages since the recession:
|Investment banking and securities dealing||$3,164||$2,216||42.8%|
|Druggists’ goods merchant wholesalers||$2,079||$1,685||23.4%|
|Electric power generation||$1,999||$1,571||27.2%|
|Resin and synthetic rubber manufacturing||$1,960||$1,498||30.8%|
|Coal and other mineral merchant wholesalers||$1,952||$2,050||-4.8%|
|Nonscheduled air transportation||$1,867||$1,025||82.1%|
|Oil and gas pipeline construction||$1,840||$1,039||77.1%|
|Other basic organic chemical manufacturing||$1,774||$1,564||13.4%|
The biggest percentage change in the number of businesses has been in businesses with fewer than 5 employees. The number of businesses with this number of employees has grown from 23,958 to 26,766, which is an increase of 11.7%.
The smallest 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 39 to 35, which is an decrease of 10.3%.
Table 1: Change in the number of Businesses by Size of Business, since the Recession:
|Company Size||Q1 2018||Q1 2010||% Change|
|Fewer than 5 Employees||26,766||23,958||11.7%|
|More Than 1,000 Employees||21||22||-4.5%|
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 37,260 to 40,402, which is an increase of 8.4%.
The smallest percentage change in the number of employees has been in businesses with 500 to 999 employees. The number of employees with this number of employees has grown from 28,811 to 23,387, which is an decrease of 18.8%.
Table 2: Change in the number of Employees by Size of Business, since the Recession:
|Company Size||Q1 2018||Q1 2010||% Change|
|Fewer than 5 Employees||42,873||41,320||3.8%|
|More Than 1,000 Employees||40,402||37,260||8.4%|
The biggest 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 $801 to $1,310, which is an increase of 63.5%.
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 $632 to $773, which is an increase of 22.3%.
Table 3: Change Average Weekly Wage by Size Since the Recession:
|Company Size||Q1 2018||Q1 2010||% Change|
|Fewer than 5 Employees||$786||$579||35.8%|
|More Than 1,000 Employees||$1,165||$940||23.9%|
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.