Minnesota Business & Employment Growth Since 2009

  • 10,362 more businesses
  • 313,276 more employees
  • 12.2% increase in total wages
  • $12,677 increase in annual wages per employee
  • 28.0% increase in wages per employee

Since 2009, the number of businesses in Minnesota has grown by 6.3% (5.2% less than the national average of 11.4%). Employment in Minnesota has grown by 12.2% (1.4% less than the national average of 13.6%). Wages have grown by 27.9% since the end of the Great Recession. This wage growth is 2.2% greater than the national average of 25.7%.
The average weekly wage in Minnesota of $1,115 is 1.3% above the national average of $1,101. The gap between the national average has widened from 0.5% a widening of 1.7% since the end of the recession.

Sector Growth

Business Sector Growth

The Professional services sector has the most businesses in the state of Minnesota. Since the end of the recession, the number of businesses has grown from 18,154 to 22,222, a gain of 22.4%. The table below illustrates the change in number of businesses in each sector.
Sector20182009Pct Chg
Professional services22,22218,15422.4%
Retail trade18,67819,679-5.1%
Other services17,10013,84223.5%
Healthcare16,65512,31135.3%
Construction16,47917,284-4.7%
Wholesale trade13,39013,579-1.4%
Accommodation and food services12,05711,2627.1%
Finance and insurance9,6009,954-3.6%
Manufacturing8,4948,933-4.9%
Waste services8,3157,8895.4%
Real estate and rental6,2936,919-9.0%
Transport and warehousing4,7884,6912.1%
Information3,9693,33718.9%
Arts and entertainment3,2352,76716.9%
Agriculture and forestry2,8532,10735.4%
Educational services2,5511,88635.3%
Company management1,4631,20021.9%
Utilities405406-0.2%
Mining and oil extraction21618914.3%

The sector that has had the strongest growth [in number of businesses] is the Healthcare sector, which has increased by 35.3% since 2009. The sector that has has the largest decline is the Retail trade sector, which has declined by 5.1% since the recession.

Employment Sector Growth

The Healthcare sector has the most employees in the state of Minnesota. Since the end of the recession, the number of employees has grown from 391,502 to 474,286, a gain of 21.1%. The table below illustrates the change in number of employees in each sector.
Sector20182009Pct Chg
Healthcare474,286391,50221.1%
Manufacturing321,932300,1027.3%
Retail trade298,252280,0576.5%
Accommodation and food services227,171200,17813.5%
Professional services162,715124,84630.3%
Finance and insurance143,128134,5926.3%
Waste services134,338112,58219.3%
Wholesale trade131,028126,3003.7%
Construction121,61093,43130.2%
Transport and warehousing90,17372,40024.5%
Other services90,05483,1508.3%
Company management81,21669,82316.3%
Educational services52,15043,01321.2%
Information49,15854,916-10.5%
Arts and entertainment46,02937,95121.3%
Real estate and rental35,14235,956-2.3%
Agriculture and forestry21,76217,94321.3%
Utilities12,28812,724-3.4%
Mining and oil extraction5,8804,41833.1%

The sector that has had the strongest employment growth [in number of employees] is the Healthcare sector, which has increased by 21.1% since 2009. The sector that has has the largest employment decline in number of employees is the Information sector, which has declined by 10.5% since the recession.

Weekly Wage Growth By Sector

The Company management sector has the highest average weekly wage in the state of Minnesota. Since the end of the recession, the average wage has grown from $1,824 to $2,448, a gain of 34.2%. The table below illustrates the change in weekly wage in each sector.
Sector20182009Pct Chg
Company management$2,448$1,82434.2%
Utilities$2,166$1,57237.8%
Finance and insurance$2,041$1,43742.0%
Professional services$1,822$1,38831.3%
Mining and oil extraction$1,779$1,22345.5%
Wholesale trade$1,623$1,28326.5%
Information$1,517$1,15631.2%
Construction$1,293$1,00628.5%
Manufacturing$1,290$1,03125.1%
Real estate and rental$1,013$84320.2%
Transport and warehousing$1,012$81324.5%
Healthcare$1,010$81723.6%
Educational services$809$70714.4%
Waste services$783$59631.4%
Agriculture and forestry$754$54638.1%
Arts and entertainment$701$51735.6%
Other services$658$51228.5%
Retail trade$591$46327.6%
Accommodation and food services$378$27239.0%

The sector that has had the strongest wage growth is the Company management sector, which has increased by 34.2% since 2009. The sector that has has the smallest wage growth is the Educational services sector, which has declined by 14.4% since the recession.


Industry Growth

Business Industry Growth

The Restaurants and other eating places industry has the greatest number of businesses in the state of Minnesota. This industry currently has 8,599 businesses in it. There is no direct comparison to the total at the end of recession and is not included in the table below.

Industry20182009Pct Chg
Computer systems design and related services5,8344,07643.1%
Private households4,6602,308101.9%
Residential building construction3,5623,910-8.9%
Insurance agencies and brokerages3,2293,237-0.2%
All other professional and technical services2,7721,149141.3%
Services for the elderly and disabled2,742689298.0%

The top industry that has had the largest increase in the number of businesses is the Private households industry, which has increased by 101.9% since 2009. The top industry that has has the largest decline in the number of businesses is the Residential building construction industry, which has declined by 8.9% since the recession.

Employment Industry Growth

The Restaurants and other eating places industry has the greatest number of employees in the state of Minnesota. This industry currently has 173,973 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 hospitals110,94894,26517.7%
Management of companies and enterprises81,21669,82316.3%
Offices of physicians73,60362,37418.0%
Temporary help services54,44138,19842.5%
Supermarkets and other grocery stores46,63042,6619.3%
Commercial banking45,51935,56828.0%

The top industry that has had the largest increase in the number of employees is the General medical and surgical hospitals industry, which has increased by 17.7% since 2009. The top industry that has has the largest decline in the number of employees is the Supermarkets and other grocery stores industry, which has declined by 9.3% since the recession.

Weekly Wage Growth By Industry

The Miscellaneous intermediation industry has the highest average weekly wage in the state of Minnesota. Since the end of the recession, the average wage has grown from $3,533 to $5,739, a gain of 62.4%. The table below illustrates the change in weekly wage in each sector.
Industry20182009Pct Chg
Miscellaneous intermediation$5,739$3,53362.4%
Securities and commodity exchanges$4,819$1,502220.8%
Commodity contracts dealing$4,749$7,555-37.1%
Portfolio management$3,920$3,41414.8%
Spectator sports$3,868$3,12423.8%
Investment banking and securities dealing$3,423$2,25651.7%
Credit card issuing$3,299$1,008227.3%

The top industry that has had the strongest wage growth is the Securities and commodity exchanges industry, which has increased by 220.8% since 2009. The top industry that has has the largest wage decline is the Commodity contracts dealing industry, which has declined by 37.1% since the recession.


Company Size

Business Growth By Company Size

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 112 to 140, which is an increase of 25.0%.

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 23,257 to 24,098, which is an increase of 3.6%.

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

Company SizeQ1 2018Q1 2010% Change
Fewer than 5 Employees102,57093,24410.0%
5-9 Employees24,09823,2573.6%
10-19 Employees18,59217,5446.0%
20-49 Employees13,52511,37118.9%
50-99 Employees4,7504,14114.7%
100-249 Employees2,7012,40312.4%
250-499 Employees76664119.5%
500-999 Employees25121914.6%
More Than 1,000 Employees14011225.0%


Employment Growth by Company Size

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 244,780 to 318,668, which is an increase of 30.2%.

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 153,798 to 161,197, which is an increase of 4.8%.

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

Company SizeQ1 2018Q1 2010% Change
Fewer than 5 Employees135,867124,8188.9%
5-9 Employees161,197153,7984.8%
10-19 Employees251,698236,0886.6%
20-49 Employees406,381341,11319.1%
50-99 Employees326,602282,37815.7%
100-249 Employees403,691360,22612.1%
250-499 Employees258,114217,29818.8%
500-999 Employees169,534148,96713.8%
More Than 1,000 Employees318,668244,78030.2%


Weekly Wage Growth by Company Size

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 $1,435 to $2,088, which is an increase of 45.5%.

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 $762 to $918, which is an increase of 20.5%.

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

Company SizeQ1 2018Q1 2010% Change
Fewer than 5 Employees$1,039$74240.0%
5-9 Employees$849$64332.0%
10-19 Employees$843$63931.9%
20-49 Employees$918$76220.5%
50-99 Employees$1,086$82531.6%
100-249 Employees$1,110$84830.9%
250-499 Employees$1,284$1,00228.1%
500-999 Employees$1,456$1,17124.3%
More Than 1,000 Employees$2,088$1,43545.5%



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.