|By Marketwired .||
|January 7, 2014 06:00 AM EST||
SEATTLE, WA -- (Marketwired) -- 01/07/14 -- Today, PayScale, Inc., the leader in cloud compensation data and software for businesses and individuals, released the Q4 2013 PayScale Index which tracks quarterly and annual trends in compensation and provides a U.S. national wage forecast for the coming quarter. The PayScale Index also includes a "Real Wage Index" -- which reveals shifts in 'real wages' by analyzing statistics from the Consumer Price Index and Unemployment figures together with PayScale's rich compensation data.
In its Q3 2013 release, PayScale forecasted U.S. national wages would grow 0.1 percent between Q3 and Q4 2013. The actual quarterly growth calculated for this Q4 2013 release is 0.2 percent. For Q1 2014, PayScale predicts quarterly wage growth to be a slight uptick of 0.2 percent, resulting in annual wage growth of 0.7 percent.
"2013 proved to be a disappointing year for wage growth," said Katie Bardaro, lead economist at PayScale. "Wages grew by less than 0.5 percent for the year compared to almost 3 percent growth in 2012. Our forecast for Q1 2014 predicts the slow wage growth in 2013 will continue into 2014."
Real Wages Still Behind 2006 Rates
In Q3 2013 PayScale introduced the PayScale Real Wage Index, which tracks the percentage change in real wages since 2006. This measures the buying power of the income for a typical full-time, private industry worker. PayScale calculations for Q4 2013 show that even with continued growth, current wages still have less buying power than they did in 2006.
"We see that nominal wages have not kept pace with inflation," Bardaro said. "In fact, real wages have dropped slightly more than 7 percent since 2006. This means the increases observed in nominal wages are not enough to outpace the increases experienced in the prices of goods and services. In other words, the income for a typical full-time, private industry worker buys them less than it did in 2006."
Key Findings from the Q4 2013 PayScale Index:
Wage growth in the Oil & Gas sector is now fully recovered from the Q2 2013 dip, rising above its previous peak in Q1 2013. Wages in the Oil and Gas industry have now grown 18 percent since 2006 -- the largest growth by far of any PayScale Index measure.
After a steep rise to the top, wage growth for small companies fell below both medium and large companies. Wages in Q4 2013 fell by 0.2 percent for small companies, but grew by 0.1 percent for large companies and by 0.5 percent for medium companies.
Food Service experienced both ups and downs this quarter. Wages dropped 0.2 percent this quarter, but were up 0.7 percent year-over-year, putting them in third place for annual growth across included industries. Food service jobs did better with quarterly growth of 0.3 percent and annual growth of 1.9 percent.
For the first time in more than a year, wages fell in the Transportation sector. Wages fell 0.8 percent this quarter for the Transportation industry, but annual growth was 1.2 percent. Wages for Transportation jobs also fell this quarter by 0.9 percent.
Wages for the Tech sector continued to heat up, but remain below previous flame points. After some sluggish growth in early 2013, wages for IT jobs rose 0.2 percent over the quarter and 1.2 percent over the year.
The PayScale Indices for Canada and the United Kingdom show both countries outpacing U.S. growth in wages. Wages in the U.K. are up 8.3 percent since 2006, outpacing the 7.4 percent U.S. wage growth by almost a full percentage point. Meanwhile, 11.2 percent wage growth has Canada outpacing the U.S. by almost 4 percentage points.
To view the entire interactive Q4 2013 PayScale Index which reflects wage trends across various industries, job categories, company sizes and major metros, please visit: http://www.payscale.com/payscale-index.
About The PayScale Index:
The PayScale Index follows changes in total cash compensation for full-time, private industry employees in the U.S., Canada, and the U.K. The PayScale Index also includes:
- A forecast of the National U.S. PayScale Index for Q1 2014
- A PayScale Real Wage Index, which tracks changes in wages adjusted for inflation since 2006
Creator of the largest database of individual compensation profiles in the world containing 40 million salary profiles, PayScale, Inc. provides an immediate and precise snapshot of current market salaries to employees and employers through its online tools and software. PayScale's products are powered by innovative algorithms that dynamically acquire, analyze and aggregate compensation information for millions of individuals in real time. Publisher of the quarterly PayScale Index, PayScale's subscription software products for employers include PayScale MarketRate, PayScale Insight, and PayScale Insight Expert. PayScale's cloud compensation software is used by more than 3,000 customers including Mozilla, Tully's Coffee, Clemson University, and the United States Postal Service. For more information, please visit: www.payscale.com or follow PayScale on Twitter: http://twitter.com/payscale.
Fact is, enterprises have significant legacy voice infrastructure that’s costly to replace with pure IP solutions. How can we bring this analog infrastructure into our shiny new cloud applications? There are proven methods to bind both legacy voice applications and traditional PSTN audio into cloud-based applications and services at a carrier scale. Some of the most successful implementations leverage WebRTC, WebSockets, SIP and other open source technologies. In his session at @ThingsExpo, Da...
Sep. 26, 2016 06:30 AM EDT Reads: 1,566
Your business relies on your applications and your employees to stay in business. Whether you develop apps or manage business critical apps that help fuel your business, what happens when users experience sluggish performance? You and all technical teams across the organization – application, network, operations, among others, as well as, those outside the organization, like ISPs and third-party providers – are called in to solve the problem.
Sep. 26, 2016 06:30 AM EDT Reads: 2,309
Most of us already know that adopting new cloud applications can boost a business’s productivity by enabling organizations to be more agile and ready to change course in our fast-moving and connected digital world. But the rapid adoption of cloud apps and services also brings with it profound security threats, including visibility and control challenges that aren’t present in traditional on-premises environments. At the same time, the cloud – because of its interconnected, flexible and adaptable...
Sep. 26, 2016 06:15 AM EDT Reads: 1,639
An IoT product’s log files speak volumes about what’s happening with your products in the field, pinpointing current and potential issues, and enabling you to predict failures and save millions of dollars in inventory. But until recently, no one knew how to listen. In his session at @ThingsExpo, Dan Gettens, Chief Research Officer at OnProcess, will discuss recent research by Massachusetts Institute of Technology and OnProcess Technology, where MIT created a new, breakthrough analytics model f...
Sep. 26, 2016 05:15 AM EDT Reads: 1,804
Digital transformation is too big and important for our future success to not understand the rules that apply to it. The first three rules for winning in this age of hyper-digital transformation are: Advantages in speed, analytics and operational tempos must be captured by implementing an optimized information logistics system (OILS) Real-time operational tempos (IT, people and business processes) must be achieved Businesses that can "analyze data and act and with speed" will dominate those t...
Sep. 26, 2016 04:30 AM EDT Reads: 1,044
SYS-CON Events announced today that Roundee / LinearHub will exhibit at the WebRTC Summit at @ThingsExpo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. LinearHub provides Roundee Service, a smart platform for enterprise video conferencing with enhanced features such as automatic recording and transcription service. Slack users can integrate Roundee to their team via Slack’s App Directory, and '/roundee' command lets your video conference ...
Sep. 26, 2016 04:30 AM EDT Reads: 1,413
Information technology is an industry that has always experienced change, and the dramatic change sweeping across the industry today could not be truthfully described as the first time we've seen such widespread change impacting customer investments. However, the rate of the change, and the potential outcomes from today's digital transformation has the distinct potential to separate the industry into two camps: Organizations that see the change coming, embrace it, and successful leverage it; and...
Sep. 26, 2016 03:15 AM EDT Reads: 1,084
There is growing need for data-driven applications and the need for digital platforms to build these apps. In his session at 19th Cloud Expo, Muddu Sudhakar, VP and GM of Security & IoT at Splunk, will cover different PaaS solutions and Big Data platforms that are available to build applications. In addition, AI and machine learning are creating new requirements that developers need in the building of next-gen apps. The next-generation digital platforms have some of the past platform needs a...
Sep. 26, 2016 03:00 AM EDT Reads: 1,766
Without a clear strategy for cost control and an architecture designed with cloud services in mind, costs and operational performance can quickly get out of control. To avoid multiple architectural redesigns requires extensive thought and planning. Boundary (now part of BMC) launched a new public-facing multi-tenant high resolution monitoring service on Amazon AWS two years ago, facing challenges and learning best practices in the early days of the new service. In his session at 19th Cloud Exp...
Sep. 26, 2016 03:00 AM EDT Reads: 949
SYS-CON Events announced today that Secure Channels will exhibit at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. The bedrock of Secure Channels Technology is a uniquely modified and enhanced process based on superencipherment. Superencipherment is the process of encrypting an already encrypted message one or more times, either using the same or a different algorithm.
Sep. 26, 2016 02:45 AM EDT Reads: 1,552
While DevOps promises a better and tighter integration among an organization’s development and operation teams and transforms an application life cycle into a continual deployment, Chef and Azure together provides a speedy, cost-effective and highly scalable vehicle for realizing the business values of this transformation. In his session at @DevOpsSummit at 19th Cloud Expo, Yung Chou, a Technology Evangelist at Microsoft, will present a unique opportunity to witness how Chef and Azure work tog...
Sep. 26, 2016 01:45 AM EDT Reads: 1,674
Almost two-thirds of companies either have or soon will have IoT as the backbone of their business in 2016. However, IoT is far more complex than most firms expected. How can you not get trapped in the pitfalls? In his session at @ThingsExpo, Tony Shan, a renowned visionary and thought leader, will introduce a holistic method of IoTification, which is the process of IoTifying the existing technology and business models to adopt and leverage IoT. He will drill down to the components in this fra...
Sep. 26, 2016 01:00 AM EDT Reads: 1,626
SYS-CON Events announced today that Numerex Corp, a leading provider of managed enterprise solutions enabling the Internet of Things (IoT), will exhibit at the 19th International Cloud Expo | @ThingsExpo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Numerex Corp. (NASDAQ:NMRX) is a leading provider of managed enterprise solutions enabling the Internet of Things (IoT). The Company's solutions produce new revenue streams or create operating...
Sep. 26, 2016 01:00 AM EDT Reads: 1,960
IoT is fundamentally transforming the auto industry, turning the vehicle into a hub for connected services, including safety, infotainment and usage-based insurance. Auto manufacturers – and businesses across all verticals – have built an entire ecosystem around the Connected Car, creating new customer touch points and revenue streams. In his session at @ThingsExpo, Macario Namie, Head of IoT Strategy at Cisco Jasper, will share real-world examples of how IoT transforms the car from a static p...
Sep. 26, 2016 12:30 AM EDT Reads: 1,546
I'm a lonely sensor. I spend all day telling the world how I'm feeling, but none of the other sensors seem to care. I want to be connected. I want to build relationships with other sensors to be more useful for my human. I want my human to understand that when my friends next door are too hot for a while, I'll soon be flaming. And when all my friends go outside without me, I may be left behind. Don't just log my data; use the relationship graph. In his session at @ThingsExpo, Ryan Boyd, Engi...
Sep. 26, 2016 12:30 AM EDT Reads: 1,251