Welcome!

News Feed Item

PayScale Predicts Annual Wage Growth of 0.7 Percent for Q1 2014

The PayScale Index for Q4 2013 Shows an 18 Percent Rise in Oil and Gas Sector Wages Since 2006; Small Company Wage Growth Stalls

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

For more information on The PayScale Index, please visit the methodology and FAQ pages.

About PayScale:

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.

Press Contacts:
Steven Gottlieb
Email: [email protected]
Tel: 206-427-9591

Phyllis McNeice
Email: [email protected]
Tel: 206-954-1481

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
DevOps promotes continuous improvement through a culture of collaboration. But in real terms, how do you: Integrate activities across diverse teams and services? Make objective decisions with system-wide visibility? Use feedback loops to enable learning and improvement? With technology insights and real-world examples, in his general session at @DevOpsSummit, at 21st Cloud Expo, Andi Mann, Chief Technology Advocate at Splunk, explored how leading organizations use data-driven DevOps to close th...
Continuous Delivery makes it possible to exploit findings of cognitive psychology and neuroscience to increase the productivity and happiness of our teams. In his session at 22nd Cloud Expo | DXWorld Expo, Daniel Jones, CTO of EngineerBetter, will answer: How can we improve willpower and decrease technical debt? Is the present bias real? How can we turn it to our advantage? Can you increase a team’s effective IQ? How do DevOps & Product Teams increase empathy, and what impact does empath...
As many know, the first generation of Cloud Management Platform (CMP) solutions were designed for managing virtual infrastructure (IaaS) and traditional applications. But that's no longer enough to satisfy evolving and complex business requirements. In his session at 21st Cloud Expo, Scott Davis, Embotics CTO, explored how next-generation CMPs ensure organizations can manage cloud-native and microservice-based application architectures, while also facilitating agile DevOps methodology. He expla...
Most technology leaders, contemporary and from the hardware era, are reshaping their businesses to do software. They hope to capture value from emerging technologies such as IoT, SDN, and AI. Ultimately, irrespective of the vertical, it is about deriving value from independent software applications participating in an ecosystem as one comprehensive solution. In his session at @ThingsExpo, Kausik Sridhar, founder and CTO of Pulzze Systems, discussed how given the magnitude of today's application ...
Modern software design has fundamentally changed how we manage applications, causing many to turn to containers as the new virtual machine for resource management. As container adoption grows beyond stateless applications to stateful workloads, the need for persistent storage is foundational - something customers routinely cite as a top pain point. In his session at @DevOpsSummit at 21st Cloud Expo, Bill Borsari, Head of Systems Engineering at Datera, explored how organizations can reap the bene...
With tough new regulations coming to Europe on data privacy in May 2018, Calligo will explain why in reality the effect is global and transforms how you consider critical data. EU GDPR fundamentally rewrites the rules for cloud, Big Data and IoT. In his session at 21st Cloud Expo, Adam Ryan, Vice President and General Manager EMEA at Calligo, examined the regulations and provided insight on how it affects technology, challenges the established rules and will usher in new levels of diligence arou...
You know you need the cloud, but you're hesitant to simply dump everything at Amazon since you know that not all workloads are suitable for cloud. You know that you want the kind of ease of use and scalability that you get with public cloud, but your applications are architected in a way that makes the public cloud a non-starter. You're looking at private cloud solutions based on hyperconverged infrastructure, but you're concerned with the limits inherent in those technologies. What do you do?
Sanjeev Sharma Joins June 5-7, 2018 @DevOpsSummit at @Cloud Expo New York Faculty. Sanjeev Sharma is an internationally known DevOps and Cloud Transformation thought leader, technology executive, and author. Sanjeev's industry experience includes tenures as CTO, Technical Sales leader, and Cloud Architect leader. As an IBM Distinguished Engineer, Sanjeev is recognized at the highest levels of IBM's core of technical leaders.
Recently, WebRTC has a lot of eyes from market. The use cases of WebRTC are expanding - video chat, online education, online health care etc. Not only for human-to-human communication, but also IoT use cases such as machine to human use cases can be seen recently. One of the typical use-case is remote camera monitoring. With WebRTC, people can have interoperability and flexibility for deploying monitoring service. However, the benefit of WebRTC for IoT is not only its convenience and interopera...
In his general session at 21st Cloud Expo, Greg Dumas, Calligo’s Vice President and G.M. of US operations, discussed the new Global Data Protection Regulation and how Calligo can help business stay compliant in digitally globalized world. Greg Dumas is Calligo's Vice President and G.M. of US operations. Calligo is an established service provider that provides an innovative platform for trusted cloud solutions. Calligo’s customers are typically most concerned about GDPR compliance, application p...
Mobile device usage has increased exponentially during the past several years, as consumers rely on handhelds for everything from news and weather to banking and purchases. What can we expect in the next few years? The way in which we interact with our devices will fundamentally change, as businesses leverage Artificial Intelligence. We already see this taking shape as businesses leverage AI for cost savings and customer responsiveness. This trend will continue, as AI is used for more sophistica...
The 22nd International Cloud Expo | 1st DXWorld Expo has announced that its Call for Papers is open. Cloud Expo | DXWorld Expo, to be held June 5-7, 2018, at the Javits Center in New York, NY, brings together Cloud Computing, Digital Transformation, Big Data, Internet of Things, DevOps, Machine Learning and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding busin...
SYS-CON Events announced today that Synametrics Technologies will exhibit at SYS-CON's 22nd International Cloud Expo®, which will take place on June 5-7, 2018, at the Javits Center in New York, NY. Synametrics Technologies is a privately held company based in Plainsboro, New Jersey that has been providing solutions for the developer community since 1997. Based on the success of its initial product offerings such as WinSQL, Xeams, SynaMan and Syncrify, Synametrics continues to create and hone inn...
Smart cities have the potential to change our lives at so many levels for citizens: less pollution, reduced parking obstacles, better health, education and more energy savings. Real-time data streaming and the Internet of Things (IoT) possess the power to turn this vision into a reality. However, most organizations today are building their data infrastructure to focus solely on addressing immediate business needs vs. a platform capable of quickly adapting emerging technologies to address future ...
No hype cycles or predictions of a gazillion things here. IoT is here. You get it. You know your business and have great ideas for a business transformation strategy. What comes next? Time to make it happen. In his session at @ThingsExpo, Jay Mason, an Associate Partner of Analytics, IoT & Cybersecurity at M&S Consulting, presented a step-by-step plan to develop your technology implementation strategy. He also discussed the evaluation of communication standards and IoT messaging protocols, data...