AdvisorSmith Finds the Industries Where Wages Are Rising Fastest

NEW YORK - July 13, 2021 - PRLog -- AdvisorSmith, a leading resource for small business and economic content, released its newest study to find the U.S. sectors with the most significant increases in hourly wages.

To find the sectors and wages with the highest levels of wage inflation, AdvisorSmith examined data published by the U.S. Bureau of Labor Statistics, Current Employment Statistics, which reports employment levels and wages for industries and jobs across the country monthly.

AdvisorSmith used the July 2, 2021 release of data that reported the average hourly earnings for workers in various industries and employment levels in multiple industries.

To determine the industries where wages are rising the fastest, the study examined the average level of wages for nonsupervisory workers employed in private industries from May 2019 through May 2021 to capture the change in wages throughout the pandemic.

Nationwide, from May 2019 through May 2021, the average hourly wage for private-sector workers increased an average of 9.9%, rising from an average of $23.36 per hour in May 2019 to $25.67 per hour in May 2021.

AdvisorSmith found the top 100 industries with the highest percentage increases in wages. We also classified the top 100 industries into broader sectors and counted the sectors with the most represented sectors among the top 100.

To view the complete study, visit https://advisorsmith.com/data/industries-where-wages-are-rising-fastest/.

About AdvisorSmith

AdvisorSmith is a leading information resource for small business owners. AdvisorSmith empowers small businesses with original research and insights into trends to help them succeed. For more information, visit https://advisorsmith.com or follow us on Twitter @AdvisorSmithInc.