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Private Covered Employers
Size Class by Industry
March 2007
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| The
Rhode Island economy is characterized by a large number of small
companies employing a small number of workers. As of March 2007,
there were 33,044 private businesses in the state employing
408,124 workers. Nearly half the employers (48.2%) in the state
have between one and four employees, however, they employ just 7.6
percent of the workforce. The largest employers, those with 1,000
or more employees, numbered 35 and employed 17.3 percent of Rhode
Island’s private sector workforce. |
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Smaller employers,
those with less than twenty employees, represented 89.7
percent of all employers in the state and employed
approximately one quarter (25.5%) of the workforce.
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Mid-sized
companies (20 to 99 workers) employed 27.8 percent of the
private sector employment and accounted for 8.5 percent of the
firms.
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There are just 575
(1.7%) firms in the state employing 100 or more workers.
Together, they employee nearly half (46.7%) of the state’s
private sector employees.
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Private
Sector Employment
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| Size |
Employers
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Employment
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| Class |
Number |
Percent |
Number |
Percent |
| Total: |
33,044 |
100.0% |
408,124 |
100.0% |
| Zero |
5,821 |
17.6% |
0 |
0.0% |
| 1-4 |
15,926 |
48.2% |
30,994 |
7.6% |
| 5-9 |
4,870 |
14.7% |
32,019 |
7.8% |
| 10-19 |
3,035 |
9.2% |
40,976 |
10.0% |
| 20-49 |
2,096 |
6.3% |
63,487 |
15.6% |
| 50-99 |
721 |
2.2% |
50,017 |
12.3% |
| 100-249 |
405 |
1.2% |
62,694 |
15.4% |
| 250-499 |
103 |
0.3% |
34,669 |
8.5% |
| 500-999 |
32 |
0.1% |
22,675 |
5.6% |
| 1000+ |
35 |
0.1% |
70,593 |
17.3% |
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Top Ten Rhode Island Companies
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| Company |
Employment |
| Rhode
Island & Hasbro Hospitals |
6,332 |
| CVS
Corporation |
5,683 |
| Citizens
Financial Group |
5,500 |
| Stop
& Shop Co., Inc. |
4,455 |
| Brown
University |
3,943 |
| Bank
of America Corp.* |
3,000 |
| Women
& Infants Hospital |
2,880 |
| Kent
County Memorial Hospital |
2,400 |
| Shaw's
Supermarkets |
2,240 |
| The
Miriam Hospital |
2,236 |
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| *Estimate |
| Source:
RI Economic Development Corporation |
|
The highest concentration of small
firms is found in the Agriculture, Forestry, Fishing and Hunting
(98.2%) sector, followed by Other Services (95.9%), Construction
(95.7%) and Professional & Technical Services (94.8).
The Manufacturing sector had the
smallest percentage of small firms (75.1%) followed by Educational
Services (75.8%), Utilities (79.2%), and Accommodations & Food
Services (79.3%).
Of the 575 firms in the state
employing 100 or more workers, more than half were concentrated in
Health Care & Social Assistance (143), Manufacturing (98), and
Retail Trade (67).
Among the state’s ten largest
companies are four hospitals, two supermarkets, two financial
institutions, a university and a pharmacy.
It
is important to note that changes in size class data are
influenced by the switching of employers from one size class to
another as well as by new firms coming into the state.
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