Connecticut Business & Employment Growth Since 2009

  • 8,735 more businesses
  • 58,505 more employees
  • 3.6% increase in total wages
  • $9,970 increase in annual wages per employee
  • 17.3% increase in wages per employee

Since 2009, the number of businesses in Connecticut has grown by 7.8% (3.6% less than the national average of 11.4%). Employment in Connecticut has grown by 3.6% (10.0% less than the national average of 13.6%). Wages have grown by 17.3% since the end of the Great Recession. This wage growth is 8.4% less than the national average of 25.7%.
The average weekly wage in Connecticut of $1,303 is 15.5% above the national average of $1,101. The gap between the national average has widened from 21.2% a widening of 5.6% since the end of the recession.

Sector Growth

Business Sector Growth

The Other services sector has the most businesses in the state of Connecticut. Since the end of the recession, the number of businesses has grown from 13,675 to 17,483, a gain of 27.8%. The table below illustrates the change in number of businesses in each sector.
Sector20182009Pct Chg
Other services17,48313,67527.8%
Professional services14,07812,78910.1%
Retail trade12,58512,974-3.0%
Healthcare11,1449,76514.1%
Wholesale trade10,0779,8372.4%
Construction9,36410,592-11.6%
Accommodation and food services8,7707,57815.7%
Waste services7,8696,78616.0%
Finance and insurance7,2207,231-0.2%
Manufacturing4,4065,030-12.4%
Real estate and rental3,6473,665-0.5%
Information2,3011,83125.7%
Transport and warehousing2,0711,9337.1%
Educational services1,9381,49429.7%
Arts and entertainment1,8941,68612.3%
Company management1,28274871.4%
Agriculture and forestry3883724.3%
Utilities150164-8.5%
Mining and oil extraction5457-5.3%

The sector that has had the strongest growth [in number of businesses] is the Other services sector, which has increased by 27.8% since 2009. The sector that has has the largest decline is the Construction sector, which has declined by 11.6% since the recession.

Employment Sector Growth

The Healthcare sector has the most employees in the state of Connecticut. Since the end of the recession, the number of employees has grown from 243,211 to 268,553, a gain of 10.4%. The table below illustrates the change in number of employees in each sector.
Sector20182009Pct Chg
Healthcare268,553243,21110.4%
Retail trade180,705178,5111.2%
Manufacturing160,487171,226-6.3%
Accommodation and food services129,258110,09817.4%
Finance and insurance103,643118,362-12.4%
Professional services96,31587,14710.5%
Waste services91,15075,69320.4%
Other services66,82256,81717.6%
Wholesale trade61,54964,984-5.3%
Construction58,71454,5257.7%
Educational services58,27351,88512.3%
Transport and warehousing48,67439,18924.2%
Company management33,61627,61221.7%
Information31,73134,960-9.2%
Arts and entertainment28,56823,54521.3%
Real estate and rental19,98319,1954.1%
Utilities5,1726,643-22.1%
Agriculture and forestry4,7454,6302.5%
Mining and oil extraction524628-16.6%

The sector that has had the strongest employment growth [in number of employees] is the Healthcare sector, which has increased by 10.4% since 2009. The sector that has has the largest employment decline in number of employees is the Finance and insurance sector, which has declined by 12.4% since the recession.

Weekly Wage Growth By Sector

The Finance and insurance sector has the highest average weekly wage in the state of Connecticut. Since the end of the recession, the average wage has grown from $2,515 to $3,305, a gain of 31.4%. The table below illustrates the change in weekly wage in each sector.
Sector20182009Pct Chg
Finance and insurance$3,305$2,5150.0%
Company management$2,912$2,6110.0%
Utilities$2,525$2,0510.0%
Information$2,127$1,3700.0%
Professional services$2,027$1,6430.0%
Wholesale trade$1,833$1,5230.0%
Manufacturing$1,588$1,3510.0%
Mining and oil extraction$1,451$1,2450.0%
Real estate and rental$1,352$9960.0%
Construction$1,341$1,1110.0%
Educational services$1,283$1,0180.0%
Healthcare$1,018$8990.0%
Transport and warehousing$920$8630.0%
Waste services$885$7370.0%
Agriculture and forestry$695$5540.0%
Retail trade$665$5870.0%
Other services$647$5800.0%
Arts and entertainment$567$5090.0%
Accommodation and food services$431$3470.0%

The sector that has had the strongest wage growth is the Unclassified sector, which has increased by 0.0% since 2009. The sector that has has the smallest wage growth is the Transport and warehousing sector, which has declined by 0.0% since the recession.


Industry Growth

Business Industry Growth

The Private households industry has the greatest number of businesses in the state of Connecticut. Since the end of the recession, the number of businesses has grown from 5,818 to 8,931, a gain of 53.5%. The table below illustrates the change in the number of businesses in the top industries.

Industry20182009Pct Chg
Private households8,9315,8180.0%
Wholesale trade agents and brokers4,4575,6120.0%
Computer systems design and related services3,6772,8380.0%
Offices of physicians2,7162,6300.0%
Landscaping services2,2942,0800.0%
Offices of lawyers2,2652,4880.0%

The top industry that has had the largest increase in the number of businesses is the Private households industry, which has increased by 0.0% since 2009. The top industry that has has the largest decline in the number of businesses is the Wholesale trade agents and brokers industry, which has declined by 0.0% since the recession.

Employment Industry Growth

The Restaurants and other eating places industry has the greatest number of employees in the state of Connecticut. This industry currently has 104,549 employees in it. There is no direct comparison back to the total at the end of the recession and is not included in the table below.

Industry20182009Pct Chg
General medical and surgical hospitals55,01957,7530.0%
Supermarkets and other grocery stores35,90634,8430.0%
Offices of physicians34,96830,8810.0%
Nursing care facilities skilled nursing33,87138,5320.0%
Management of companies and enterprises33,61627,6120.0%
Colleges and universities30,65926,5940.0%

The top industry that has had the largest increase in the number of employees is the Management of companies and enterprises industry, which has increased by 0.0% since 2009. The top industry that has has the largest decline in the number of employees is the Nursing care facilities skilled nursing industry, which has declined by 0.0% since the recession.

Weekly Wage Growth By Industry

The Commodity contracts brokerage industry has the highest average weekly wage in the state of Connecticut. Since the end of the recession, the average wage has decreased from $10,900 to $7,514, a reduction of 31.1%. The table below illustrates the change in weekly wage in each sector.
Industry20182009Pct Chg
Commodity contracts brokerage$7,514$10,9000.0%
Portfolio management$6,980$5,8820.0%
Commodity contracts dealing$6,134$4,5550.0%
Investment banking and securities dealing$5,727$6,1920.0%
Sales financing$5,600$4,2390.0%
Miscellaneous intermediation$5,479$4,8180.0%
Securities brokerage$4,472$3,7510.0%

The top industry that has had the strongest wage growth is the Commodity contracts dealing industry, which has increased by 0.0% since 2009. The top industry that has has the largest wage decline is the Commodity contracts brokerage industry, which has declined by 0.0% since the recession.


Company Size

Business Growth By Company Size

The biggest percentage change in the number of businesses has been in businesses with 20 to 49 employees. The number of businesses with this number of employees has grown from 7,443 to 8,435, which is an increase of 13.3%.

The smallest 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 69 to 65, which is an increase of -5.8%.

Table: Change in the number of Businesses by Size of Business, since the Recession:

Company SizeQ1 2018Q1 2010% Change
Fewer than 5 Employees72,85867,0678.6%
5-9 Employees18,16217,0726.4%
10-19 Employees12,38911,14411.2%
20-49 Employees8,4357,44313.3%
50-99 Employees2,6962,4659.4%
100-249 Employees1,6941,54010.0%
250-499 Employees296311-4.8%
500-999 Employees100937.5%
More Than 1,000 Employees6569-5.8%


Employment Growth by Company Size

The biggest percentage change in the number of employees has been in businesses with fewer than 5 employees. The number of employees in companies this size has grown from 98,231 to 112,206, which is an increase of 14.2%.

The smallest percentage change in the number of employees has been in businesses with 1,000 or more employees. The number of employees with this number of employees has grown from 165,398 to 159,957, which is an increase of -3.3%.

Table: Change in the number of Employees by Size of Business, since the Recession:

Company SizeQ1 2018Q1 2010% Change
Fewer than 5 Employees112,20698,23114.2%
5-9 Employees120,463112,3887.2%
10-19 Employees166,581148,98711.8%
20-49 Employees252,835223,23713.3%
50-99 Employees184,602168,7649.4%
100-249 Employees253,877231,1679.8%
250-499 Employees100,779104,138-3.2%
500-999 Employees66,84260,10711.2%
More Than 1,000 Employees159,957165,398-3.3%


Weekly Wage Growth by Company Size

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 $1,905 to $2,845, which is an increase of 49.3%.

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 $1,609 to $1,537, which is an increase of -4.5%.

Table: Change Average Weekly Wage by Size Since the Recession:

Company SizeQ1 2018Q1 2010% Change
Fewer than 5 Employees$1,234$1,02320.6%
5-9 Employees$1,059$88020.3%
10-19 Employees$1,079$94014.8%
20-49 Employees$1,182$1,02815.0%
50-99 Employees$1,467$1,25916.5%
100-249 Employees$1,434$1,13126.8%
250-499 Employees$1,537$1,609-4.5%
500-999 Employees$2,845$1,90549.3%
More Than 1,000 Employees$2,362$1,91823.1%



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.