Vermont Business & Employment Growth Since 2009

  • 1,054 more businesses
  • 17,738 more employees
  • 6.1% increase in total wages
  • $8,861 increase in annual wages per employee
  • 22.9% increase in wages per employee

Since 2009, the number of businesses in Vermont has grown by 4.3% (7.2% less than the national average of 11.4%). Employment in Vermont has grown by 6.1% (7.5% less than the national average of 13.6%). Wages have grown by 22.8% since the end of the Great Recession. This wage growth is 2.9% less than the national average of 25.7%.
The average weekly wage in Vermont of $916 is 20.2% below the national average of $1,101. The gap between the national average has widened from 17.4% a widening of 2.8% since the end of the recession.

Sector Growth

Business Sector Growth

The Professional services sector has the most businesses in the state of Vermont. Since the end of the recession, the number of businesses has grown from 2,883 to 3,624, a gain of 25.7%. The table below illustrates the change in number of businesses in each sector.
Sector20182009Pct Chg
Professional services3,6242,88325.7%
Retail trade2,9993,479-13.8%
Construction2,8863,065-5.8%
Healthcare1,9791,9053.9%
Other services1,9551,996-2.1%
Waste services1,9301,35642.3%
Accommodation and food services1,8361,7355.8%
Wholesale trade1,4701,4183.7%
Manufacturing1,1091,0743.3%
Finance and insurance971972-0.1%
Real estate and rental724747-3.1%
Transport and warehousing5665581.4%
Information5064805.4%
Agriculture and forestry49038626.9%
Educational services48337528.8%
Arts and entertainment44339412.4%
Company management1156188.5%
Utilities594725.5%
Mining and oil extraction5763-9.5%

The sector that has had the strongest growth [in number of businesses] is the Professional services sector, which has increased by 25.7% since 2009. The sector that has has the largest decline is the Retail trade sector, which has declined by 13.8% since the recession.

Employment Sector Growth

The Healthcare sector has the most employees in the state of Vermont. Since the end of the recession, the number of employees has grown from 46,448 to 52,310, a gain of 12.6%. The table below illustrates the change in number of employees in each sector.
Sector20182009Pct Chg
Healthcare52,31046,44812.6%
Retail trade37,51638,159-1.7%
Accommodation and food services32,68127,85717.3%
Manufacturing29,82631,218-4.5%
Construction15,25513,74811.0%
Professional services14,64013,09511.8%
Waste services12,3018,45145.6%
Educational services10,2979,36310.0%
Wholesale trade9,0339,695-6.8%
Other services8,7478,5841.9%
Finance and insurance8,7449,067-3.6%
Transport and warehousing6,6506,4263.5%
Arts and entertainment4,4783,79917.9%
Information4,2805,496-22.1%
Agriculture and forestry3,3052,51331.5%
Real estate and rental3,0413,0350.2%
Company management2,016416384.6%
Utilities1,2441,756-29.2%
Mining and oil extraction611649-5.9%

The sector that has had the strongest employment growth [in number of employees] is the Healthcare sector, which has increased by 12.6% since 2009. The sector that has has the largest employment decline in number of employees is the Manufacturing sector, which has declined by 4.5% since the recession.

Weekly Wage Growth By Sector

The Utilities sector has the highest average weekly wage in the state of Vermont. Since the end of the recession, the average wage has grown from $1,690 to $2,115, a gain of 25.1%. The table below illustrates the change in weekly wage in each sector.
Sector20182009Pct Chg
Utilities$2,115$1,69025.1%
Company management$1,775$1,33932.6%
Finance and insurance$1,570$1,18232.8%
Professional services$1,544$1,15833.3%
Wholesale trade$1,249$99925.0%
Mining and oil extraction$1,194$1,06711.9%
Information$1,150$87032.2%
Manufacturing$1,141$99714.4%
Construction$983$80222.6%
Educational services$919$77818.1%
Healthcare$894$73022.5%
Real estate and rental$863$63037.0%
Transport and warehousing$815$70016.4%
Waste services$810$60035.0%
Other services$698$53829.7%
Agriculture and forestry$660$52725.2%
Retail trade$610$49224.0%
Arts and entertainment$488$39922.3%
Accommodation and food services$439$33929.5%

The sector that has had the strongest wage growth is the Company management sector, which has increased by 32.6% since 2009. The sector that has has the smallest wage growth is the Arts and entertainment sector, which has declined by 22.3% 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 Vermont. This industry currently has 1,164 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 services95449393.5%
Residential building construction822905-9.2%
Management consulting services58042935.2%
Landscaping services51844316.9%
Gasoline stations with convenience stores384401-4.2%
Private households374477-21.6%

The top industry that has had the largest increase in the number of businesses is the Computer systems design and related services industry, which has increased by 93.5% since 2009. The top industry that has has the largest decline in the number of businesses is the Private households industry, which has declined by 21.6% since the recession.

Employment Industry Growth

The Restaurants and other eating places industry has the greatest number of employees in the state of Vermont. This industry currently has 17,714 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
Hotels and motels except casino hotels10,8309,35915.7%
Supermarkets and other grocery stores8,1648,238-0.9%
Services for the elderly and disabled7,5746,81411.2%
Colleges and universities5,2654,52016.5%
Offices of physicians5,0654,9821.7%
Computer systems design and related services4,0902,99036.8%

The top industry that has had the largest increase in the number of employees is the Hotels and motels except casino hotels industry, which has increased by 15.7% 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 0.9% since the recession.

Weekly Wage Growth By Industry

The Portfolio management industry has the highest average weekly wage in the state of Vermont. Since the end of the recession, the average wage has grown from $1,872 to $4,038, a gain of 115.7%. The table below illustrates the change in weekly wage in each sector.
Industry20182009Pct Chg
Portfolio management$4,038$1,872115.7%
Investment banking and securities dealing$4,015$2,32572.7%
Computer and software merchant wholesalers$2,906$1,94249.6%
Securities brokerage$2,902$1,89353.3%
Plastics materials merchant wholesalers$2,533$1,150120.3%
Other chemicals merchant wholesalers$2,522$861192.9%

The top industry that has had the strongest wage growth is the Portfolio management industry, which has increased by 115.7% since 2009. The top industry that has has the largest wage decline is the Computer and software merchant wholesalers industry, which has declined by 49.6% 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 10 to 13, which is an increase of 30.0%.

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 4,110 to 3,868, which is an increase of -5.9%.

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

Company SizeQ1 2018Q1 2010% Change
Fewer than 5 Employees15,17113,75110.3%
5-9 Employees3,8684,110-5.9%
10-19 Employees2,7412,5258.6%
20-49 Employees1,6141,46410.2%
50-99 Employees49342615.7%
100-249 Employees2302176.0%
250-499 Employees463821.1%
500-999 Employees21210.0%
More Than 1,000 Employees131030.0%


Employment Growth by Company Size

The biggest percentage change in the number of employees has been in businesses with 250 to 499 employees. The number of employees in companies this size has grown from 12,677 to 15,601, which is an increase of 23.1%.

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 26,950 to 25,476, which is an increase of -5.5%.

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

Company SizeQ1 2018Q1 2010% Change
Fewer than 5 Employees22,98622,0084.4%
5-9 Employees25,47626,950-5.5%
10-19 Employees36,32633,9117.1%
20-49 Employees47,70343,29610.2%
50-99 Employees33,66329,06615.8%
100-249 Employees33,45732,2183.8%
250-499 Employees15,60112,67723.1%
500-999 Employees15,16814,7782.6%
More Than 1,000 Employees23,00120,17914.0%


Weekly Wage Growth by Company Size

The biggest percentage change in the average weekly wage has been in businesses with fewer than 5 employees. The average weekly wage in companies this size has grown from $703 to $999, which is an increase of 42.1%.

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 $929 to $1,024, which is an increase of 10.2%.

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

Company SizeQ1 2018Q1 2010% Change
Fewer than 5 Employees$999$70342.1%
5-9 Employees$753$57730.5%
10-19 Employees$739$60123.0%
20-49 Employees$808$63028.3%
50-99 Employees$876$71023.4%
100-249 Employees$984$73533.9%
250-499 Employees$1,213$91133.2%
500-999 Employees$1,024$92910.2%
More Than 1,000 Employees$981$84715.8%



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.