Overall Wage Growth Remains Sluggish Despite Low Unemployment; Quarterly Wage Growth Experiences a Modest Increase in Canada and the U.K.
SEATTLE, WA--(Marketwired - Oct 7, 2015) - Today, PayScale, Inc., the leader in cloud compensation data and software for businesses and individuals, released the Q3 2015 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 the average 12 month increase in U.S. wages across all industries was 1.0 percent. Overall, national annual wage growth experienced some ups and downs ranging from a gain of more than 2 percent to a loss of nearly 2 percent in certain industries and metro regions. The PayScale Index forecasts wage growth in Q4 will stay relatively flat, with just a slight uptick of 0.1 percent or 0.6 percent annually. In addition, the Index shows real wages are down 8 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.
"While there were a few bright spots in the economy in the last quarter, U.S. wages remain sluggish overall," said Katie Bardaro, Vice President of Data and Lead Economist at PayScale. "Again in Q3, real wages were down 8 percent in comparison to 2006 levels, reflecting the reality that wage growth has not kept pace with inflation. This scenario is expected to continue, as the Index forecasts only tepid annual wage growth of 0.6 percent next quarter."
Key findings in the Q3 2015 PayScale Index
To view the entire interactive Q3 2015 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:
Cloud software, crowdsourced data and unique algorithms power the world's largest real-time database of rich salary profiles giving PayScale the unique ability to provide employees and employers alike immediate visibility into the right pay for any position. PayScale's cloud compensation software is used by more than 3,500 customers including Bloomberg BNA, Cummins, Warby Parker, Clemson University and Signature HealthCARE. For more information, please visit: www.payscale.com or follow PayScale on Twitter: http://twitter.com/payscale.
Contact Information:
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Email: phyllis@fireflycmns.com
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