Wage Growth

Wage Growth Among U.S. Job Switchers Increased 5.8 Percent Since June 2020 as Businesses Struggle to Attract Workers

Retrieved on: 
Wednesday, July 28, 2021
Wages and salaries, Articles, Macroeconomics, Wage Growth, Economy, Employment, Labor, United States labor law, Minimum wage

These dimensions include employment growth, job switching, wage growth and hours worked.

Key Points: 
  • These dimensions include employment growth, job switching, wage growth and hours worked.
  • In addition to the macro data presented in the report, there are also segment-specific findings by industry, state, gender, age, experience, and pay level.
  • Established in October 2014, the report methodology was updated in April 2018 utilizing monthly data to include additional data points and deeper insights.
  • The wage growth is calculated from the 12 month moving average of wage growth.

UCLA Anderson Forecast: Pent-up demand for leisure and hospitality, recreation, health care will fuel recovery

Retrieved on: 
Wednesday, June 2, 2021
Articles, Economy, Economic development, Economic growth, Inflation, Wage Growth, Economics, Economic impact of the COVID-19 pandemic

The national forecast calls for moderately higher inflation through 2021 as the economy transitions from the pandemic and supply catches up to demand.

Key Points: 
  • The national forecast calls for moderately higher inflation through 2021 as the economy transitions from the pandemic and supply catches up to demand.
  • Overall, he expects the next three years to feature strong GDP growth, a robust employment recovery, faster wage growth and higher labor productivity.
  • These sectors leisure and hospitality, education, retail trade, and health care and social services accounted for 75% of all job losses in the state in 2020.
  • Recovery will also occur faster in residential construction, as California's shortage of housing relative to demand drives new construction.

U.S. Job Switching Rate Declines by 2.0 Percentage Points Since March 2020; Wages Grew 5.9 Percent Due to Low Wage Job Loss

Retrieved on: 
Wednesday, April 28, 2021
Wages and salaries, Economy, Articles, Labor, Wage Growth, Wage, Employment, Minimum wage

These dimensions include employment growth, job switching, wage growth and hours worked.

Key Points: 
  • These dimensions include employment growth, job switching, wage growth and hours worked.
  • Established in October 2014, the report methodology was updated in April 2018 utilizing monthly data to include additional data points and deeper insights.
  • The wage growth is the rate of change in wages in that time period.\nSwitchers: Workers who changed employers between consecutive months.
  • The wage growth is calculated from the 12 month moving average of wage growth.\nEntrants: First time workers who are less than 25 years old.

U.S. Wages Grew 4.4 Percent in Fourth Quarter 2020 Due to Low Wage Job Loss as COVID-19 Continues to Disrupt Labor Market

Retrieved on: 
Wednesday, January 27, 2021
Macroeconomics, Wage Growth

It is an unprecedented, in-depth monthly analysis (published quarterly) of the vitality of the U.S. labor market based on actual data that identifies labor market trends and dynamics across multiple dimensions.

Key Points: 
  • It is an unprecedented, in-depth monthly analysis (published quarterly) of the vitality of the U.S. labor market based on actual data that identifies labor market trends and dynamics across multiple dimensions.
  • These dimensions include employment growth, job switching, wage growth and hours worked.
  • In addition to the macro data presented in the report, there are also segment-specific findings by industry, state, gender, age, experience, and pay level.
  • Established in October 2014, the report methodology was updated in April 2018 utilizing monthly data to include additional data points and deeper insights.

Assessing wage dynamics during the COVID-19 pandemic: can data on negotiated wages help?

Retrieved on: 
Thursday, January 7, 2021
Wages and salaries, Articles, Wage Growth, Economy, Wage, Unemployment, Labor, Minimum wage

[1] The ECB indicator of negotiated wage rates captures the outcome of collective bargaining processes and is not directly affected by these special factors.

Key Points: 
  • [1] The ECB indicator of negotiated wage rates captures the outcome of collective bargaining processes and is not directly affected by these special factors.
  • [2] It also tends to be published around one month earlier than wage indicators based on quarterly national accounts.
  • This box considers what role the indicator of negotiated wage rates can play in assessing and forecasting wage developments at the current juncture.
  • While the data on negotiated wages are available on a more timely basis, negotiated wage growth tends to only react with some lag to changes in labour market conditions.
  • The indicator of negotiated wage rates therefore tends to respond to cyclical labour market developments with a time lag of several quarters (see Chart A).
  • [3] Chart A Developments in negotiated wage growth and the unemployment rate (left-hand scale: annual percentage changes; right-hand scale: percentages)
  • Quarter-on-quarter changes in the indicator show that negotiated wage dynamics in 2020 have so far been very much in line with the profile observed on average since 1999 (see Chart B).
  • Changes to negotiated wages tend to occur mainly in the first quarter of each year.
  • This holds true both for average changes in the indicator of negotiated wage rates and for average absolute changes.
  • Chart B Seasonal pattern of changes in negotiated wages (quarter-on-quarter percentage changes; period analysed: 1999-2020 unless otherwise indicated)
  • At this juncture, some forward-looking information may be embedded in the wage drift.
  • The wage drift can be derived as the difference between growth rates of actual pay, as measured by gross wages and salaries per employee, and growth rates of negotiated wages.
  • [5] The wage drift signals the downward pressure that may emerge for negotiated wages should the situation in the labour market deteriorate, with workers who are currently on reduced hours instead becoming unemployed.
  • Chart C Wage drift and the contribution of hours worked to growth in compensation per employee (percentage point contributions)

U.S. Job Growth Moderates

Retrieved on: 
Friday, November 6, 2020
Other Government, Labor, Finance, Public relations, Investor relations, Marketing, Banking, Advertising, Communications, Professional services, Public policy, Government, Sustainable Development Goals, Articles, Macroeconomics, Wage Growth, Sustainability

These markets are where business growth and expansion opportunities exist.

Key Points: 
  • These markets are where business growth and expansion opportunities exist.
  • Wage growth has remained strong during the pandemic, especially for many skilled labor occupations.
  • This projection is based on moderate job growth during this years fall and winter seasons, followed by stronger, more sustainable job growth beginning in mid-2021.
  • Mining and Logging: The energy sector has gone through multiple disruptions over the last several years, and slower growth is currently projected as it stabilizes.

Top 100 Best Places to Live in the United States Announced by Livability.com

Retrieved on: 
Tuesday, October 6, 2020
Livability.com, Cartography, Winona, Wage Growth, Esri, Articles, California

FRANKLIN, Tenn., Oct. 6, 2020 /PRNewswire-PRWeb/ -- Livability.com has released its seventh annual Top 100 Best Places to Live list .

Key Points: 
  • FRANKLIN, Tenn., Oct. 6, 2020 /PRNewswire-PRWeb/ -- Livability.com has released its seventh annual Top 100 Best Places to Live list .
  • This year's ranking of the Top 100 Best Places to Live also factored in two exclusive data points from Emsi that measured the growth of high-paying jobs and overall wage growth.
  • "Creating a list of the best places to live in a year marked by uncertainty and disruption was challenging, but also clarifying," says Winona Dimeo-Ediger, Livability.com editor-in-chief.
  • Sources included the best public and private data available from organizations like the U.S. Census Bureau, Emsi and Esri.

Supply Management Careers Promising: ISM® Salary Survey Reveals Wage and Benefit Growth

Retrieved on: 
Thursday, May 21, 2020
Economy, Business, Supply chain management, Institute for Supply Management, Wages and salaries, Supply management, Wage Growth, ISM, Wage, Articles

Conducted between mid-January and mid-February 2020, the survey highlights that average wage growth for supply management practitioners continued a three-year trajectory, with average overall 2019 compensation reaching US$123,226, a 3.3 percent increase compared to 2018 (US$119,271).

Key Points: 
  • Conducted between mid-January and mid-February 2020, the survey highlights that average wage growth for supply management practitioners continued a three-year trajectory, with average overall 2019 compensation reaching US$123,226, a 3.3 percent increase compared to 2018 (US$119,271).
  • "Supply management professionals' higher-than-average wage growth reflects the significant value they add every day."
  • Supply management executives and practitioners can read a more in-depth summary of the findings, and then download the full survey report, which is complimentary to ISM members.
  • Institute for Supply Management (ISM) is the first and leading not-for-profit professional supply management organization worldwide.

PayScale Wage Data Shows Coronavirus Profoundly Changed Our Economy

Retrieved on: 
Thursday, April 2, 2020
Coronaviridae, Animal virology, Coronavirus, Wage Growth, Economy of the United States

The most recent Index shows the dramatic impact of the coronavirus on the U.S. economy in recent weeks.

Key Points: 
  • The most recent Index shows the dramatic impact of the coronavirus on the U.S. economy in recent weeks.
  • The Index shows notable wage growth among employees who deliver packages and offer leisure activities.
  • Heres how the coronavirus epidemic impacted wage growth in the first quarter of 2020:
    Wages for sales positions fell the most.
  • There is value in using both the ECI and the PayScale Index to determine relative wage growth in the U.S. economy.

U.S. Wage Growth Remained at 3.2 Percent for Fourth Quarter 2019

Retrieved on: 
Wednesday, January 22, 2020
Wages and salaries, Economy, Macroeconomics, Wage Growth, Wage, Employee relations, Employment, United States labor law, Minimum wage law, Minimum wage

These dimensions include employment growth, job switching, wage growth and hours worked.

Key Points: 
  • These dimensions include employment growth, job switching, wage growth and hours worked.
  • The wage growth is the rate of change in wages in that time period.
  • The wage growth is calculated from the 12 month moving average of wage growth.
  • To see detailed results from the ADP Workforce Vitality Report for the fourth quarter of 2019, including data broken down by region, firm size, industry, gender, and age visit http://workforcereport.adp.com/ .