In which metros are wages growing fastest post-recession?
Are some industries' wages still falling?
Pay for certain jobs is growing rapidly, but which jobs?
The Facts on Wage Trends
The PayScale Index (US) follows the change in wages of employed US workers, revealing trends in compensation for jobs over time. It specifically measures the quarterly change in the total cash compensation of full-time private industry employees nationally, with additional detail on the 20 largest metropolitan areas, 15 industries, three company sizes and, starting on Oct. 7, 19 job categories.
We've run the preliminary numbers and have some interesting facts to share with you.
- Wages for workers in the finance and insurance industry are up 1 percent over a year ago. It's a small increase, but a positive trend.
- Washington, D.C. private industry workers' wages have grown to their highest levels seen since before the recession.
- Wages for workers with jobs in manufacturing, regardless of industry, are still suffering.
- Seattle-area wages did not increase dramatically like they did last quarter, but they didn't drop either. They are maintaining their recently found strength.
- Workers with jobs in marketing and advertising are finally seeing some raises after a dry spell for most of 2011.
- Wages for Human Resources professionals grew last quarter nearly a full percent, a better performance than the previous two quarters of 2011.
- Small company's (less than 500 employees) payrolls remain stagnant, while workers at large companies (1,500+ employees) have enjoyed two quarters of wage gains.
- Wages in mining, utilities and healthcare industries stand out from the crowd with consistent, healthy, as if they operate in a different economy than other industries.
Look forward to more detailed information once we have run the final numbers and publish the Q3 2011 PayScale Index results next week.
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