SAN FRANCISCO - DECEMBER 18: A Best Buy cashier helps a customer check out at a Best Buy store December 18, 2007 in San Francisco, California. Consumer electronics retail giant Best Buy Co. reported today that its third quarter profit surged 52 percent to $228 million, or 53 cents per share, up from $150 million, or 31 cents per share one year ago. (Photo by Justin Sullivan/Getty Images)
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According to the experts at Glassdoor, the annual median base pay in the United States grew 2.1% during the 12-month period that ended in May. The figure now stands at $51,159.
However, in nine of the 10 metro areas tracked for the report, the pace of growth in May slowed compared to April.
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“The U.S. continues to experience a slight softening in wage growth during the first half of the year. However, 2.1 % is still decent growth and is higher than what we saw in 2015 and 2016. It remains above the rate of inflation, which indicates that on the whole, workers are getting ahead,” said Dr. Andrew Chamberlain, chief economist of Glassdoor. “The job market continues to be fast-growing, and we are seeing big wage gains for many jobs, especially in the retail and health care industries.”
Perhaps most surprising is the rapid wage growth in the retail industry. Despite the fact that major retailers are closing thousands of stores in 2017, store managers and cashiers are experiencing above average pay gains.
The news is also promising for warehouse associates, a critical job for expanding online retail operations.
Overall, recruiters saw the biggest year-over-year wage growth. Due to the tight labor market, Glassdoor’s experts believe there will be even higher demand for skilled recruiters going forward.
On the other hand, Glassdoor reports the weakest U.S. pay growth was for design engineers, a common manufacturing job. They experienced a pay decrease of 2.7% year over year, to $69,337.
Glassdoor says it’s possibly because the country is producing more services than products and the rise of automation.
Read more: 5 reasons hiring managers haven’t called you back
This post was last modified on May 31, 2017 6:36 pm
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