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: press@payscale.com
Tel: 206-427-9591

Phyllis McNeice
Email: phyllis@fireflycmns.com
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
You think you know what’s in your data. But do you? Most organizations are now aware of the business intelligence represented by their data. Data science stands to take this to a level you never thought of – literally. The techniques of data science, when used with the capabilities of Big Data technologies, can make connections you had not yet imagined, helping you discover new insights and ask new questions of your data. In his session at @ThingsExpo, Sarbjit Sarkaria, data science team lead ...
In his keynote at @ThingsExpo, Chris Matthieu, Director of IoT Engineering at Citrix and co-founder and CTO of Octoblu, focused on building an IoT platform and company. He provided a behind-the-scenes look at Octoblu’s platform, business, and pivots along the way (including the Citrix acquisition of Octoblu).
Bert Loomis was a visionary. This general session will highlight how Bert Loomis and people like him inspire us to build great things with small inventions. In their general session at 19th Cloud Expo, Harold Hannon, Architect at IBM Bluemix, and Michael O'Neill, Strategic Business Development at Nvidia, discussed the accelerating pace of AI development and how IBM Cloud and NVIDIA are partnering to bring AI capabilities to "every day," on-demand. They also reviewed two "free infrastructure" pr...
SYS-CON Events announced today that Hitrons Solutions 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. Hitrons Solutions Inc. is distributor in the North American market for unique products and services of small and medium-size businesses, including cloud services and solutions, SEO marketing platforms, and mobile applications.
WebRTC is about the data channel as much as about video and audio conferencing. However, basically all commercial WebRTC applications have been built with a focus on audio and video. The handling of “data” has been limited to text chat and file download – all other data sharing seems to end with screensharing. What is holding back a more intensive use of peer-to-peer data? In her session at @ThingsExpo, Dr Silvia Pfeiffer, WebRTC Applications Team Lead at National ICT Australia, looked at differ...
With major technology companies and startups seriously embracing IoT strategies, now is the perfect time to attend @ThingsExpo 2016 in New York. Learn what is going on, contribute to the discussions, and ensure that your enterprise is as "IoT-Ready" as it can be! Internet of @ThingsExpo, taking place June 6-8, 2017, at the Javits Center in New York City, New York, is co-located with 20th Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry p...
In his session at 20th Cloud Expo, Chris Carter, CEO of Approyo, will discuss the basic set up and solution for an SAP solution in the cloud and what it means to the viability of your company. Chris Carter is CEO of Approyo. He works with business around the globe, to assist them in their journey to the usage of Big Data in the forms of Hadoop (Cloudera and Hortonwork's) and SAP HANA. At Approyo, we support firms who are looking for knowledge to grow through current business process, where even ...
The Internet of Things can drive efficiency for airlines and airports. In their session at @ThingsExpo, Shyam Varan Nath, Principal Architect with GE, and Sudip Majumder, senior director of development at Oracle, discussed the technical details of the connected airline baggage and related social media solutions. These IoT applications will enhance travelers' journey experience and drive efficiency for the airlines and the airports.
Addteq is one of the top 10 Platinum Atlassian Experts who specialize in DevOps, custom and continuous integration, automation, plugin development, and consulting for midsize and global firms. Addteq firmly believes that automation is essential for successful software releases. Addteq centers its products and services around this fundamentally unique approach to delivering complete software release management solutions. With a combination of Addteq's services and our extensive list of partners,...
DevOps is being widely accepted (if not fully adopted) as essential in enterprise IT. But as Enterprise DevOps gains maturity, expands scope, and increases velocity, the need for data-driven decisions across teams becomes more acute. DevOps teams in any modern business must wrangle the ‘digital exhaust’ from the delivery toolchain, "pervasive" and "cognitive" computing, APIs and services, mobile devices and applications, the Internet of Things, and now even blockchain.
In 2014, Amazon announced a new form of compute called Lambda. We didn't know it at the time, but this represented a fundamental shift in what we expect from cloud computing. Now, all of the major cloud computing vendors want to take part in this disruptive technology. In his session at 20th Cloud Expo, John Jelinek IV, a web developer at Linux Academy, will discuss why major players like AWS, Microsoft Azure, IBM Bluemix, and Google Cloud Platform are all trying to sidestep VMs and containers...
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, whic...
Wooed by the promise of faster innovation, lower TCO, and greater agility, businesses of every shape and size have embraced the cloud at every layer of the IT stack – from apps to file sharing to infrastructure. The typical organization currently uses more than a dozen sanctioned cloud apps and will shift more than half of all workloads to the cloud by 2018. Such cloud investments have delivered measurable benefits. But they’ve also resulted in some unintended side-effects: complexity and risk. ...
WebRTC is the future of browser-to-browser communications, and continues to make inroads into the traditional, difficult, plug-in web communications world. The 6th WebRTC Summit continues our tradition of delivering the latest and greatest presentations within the world of WebRTC. Topics include voice calling, video chat, P2P file sharing, and use cases that have already leveraged the power and convenience of WebRTC.
SYS-CON Events announced today that CA Technologies has been named “Platinum Sponsor” of SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY, and the 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. CA Technologies helps customers succeed in a future where every business – from apparel to energy – is being rewritten by software. From ...