Several Talent Markets Remain Highly Volatile, Even While U.S. National Wage Growth Appears to Be Stalled
SEATTLE, WA--(Marketwired - Jan 14, 2015) - Today, PayScale, Inc., the leader in cloud compensation data and software for businesses and individuals, released the Q4 2014 PayScale Index which tracks quarterly and annual trends in compensation and also provides a U.S. national wage forecast for the coming quarter. The Index shows national wages for Q4 increased 0.6 percent and the average 12-month change in U.S. wages across all industries in Q4 was a 1.8 percent. Of note, previous top performing measures in the Index such as the oil and gas industry and IT jobs experienced a decline in Q4. The PayScale Index also forecasts national wage growth in Q1 2015 will stagnate at 0.0 percent. Finally, the Index shows real wage growth is down 7.5 percent since 2006, a measure calculated by analyzing nominal wage growth and the average change in price of a fixed basket of goods and services.
"The last quarter of 2014 was a mixed bag in terms of annual wage growth indicating ongoing volatility in our economy which is expected to continue into early 2015," said Katie Bardaro, Lead Economist at PayScale. "Some measures such as retail, food services and legal jobs experienced significant positive wage growth, while others including the oil and gas sector and IT jobs fell in the last months of 2014."
Key findings in the Q4 2014 PayScale Index:
To view the entire interactive Q4 2014 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:
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 more than 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 Cummins, Warby Parker, Zendesk, Clemson University and Covenant Dove. For more information, please visit: www.payscale.com or follow PayScale on Twitter: http://twitter.com/payscale.
Contact Information:
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Phyllis McNeice
Email: phyllis@fireflycmns.com
Tel: 206-954-1481