AdvisorSmith Finds the Industries Where Wages Are Rising Fastest
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/
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