National (US) Pay Trends
The Payscale Index: National (US)
©2023 Payscale, Inc.
Highlights Q4 2024
Kansas City leads nominal wage growth in Q4, at 0.5 percent Q/Q and 5.1 percent Y/Y. Kansas City has a large regional economy featuring industries in transportation, manufacturing, and health care.
Milwaukee takes last for nominal wage growth with 2.9 percent Y/Y growth and 0.2 percent Q/Q growth. Wage growth has likely stagnated due to job losses and a shift from manufacturing to service jobs.
Arts, Entertainment, & Recreation industry overtakes 1st spot in Q4. Demand is increasing for these workers amidst evolving consumer preferences. Nominal wages in this industry grew 4.8 percent Y/Y and 0.6 percent Q/Q.
In last, the Health Care industry saw 0.4 percent Q/Q growth and 3.2 percent Y/Y growth in Q4 2024. This sector has had to weather disproportionate inflation for supplies, medicine, and labor.
Media & Publishing jobs top wage growth at 6.3 percent growth Y/Y and 0.6 percent growth Q/Q in nominal wages. Digital and social media roles have become increasingly relevant in a “creator” economy and there is growing demand for these roles.
Architecture & Engineering jobs slip to last in nominal wage growth in Q4, with 2.7 percent Y/Y growth and 0.2 percent Q/Q growth. Engineering firms have weathered layoffs and economic downturns in the current economic climate.
Learn More About Our Compensation Software
GET A DEMOReal Wage Index
Since 2006, wages have risen 41.0 percent overall in the U.S. But when you factor in inflation, “real wages” have actually fallen 9.4 percent. In other words, the income for a typical worker today buys them less than it did in 2006. The Payscale Real Wage Index incorporates the Consumer Price Index (CPI) into The Payscale Index (which tracks nominal wages) and looks at the buying power of wages for full-time private industry workers in the U.S.
The Payscale Index: National Real Wage Index (US)
©2023 Payscale, Inc.
Methodology for The Payscale Index: Trends in Compensation
The Payscale Index tracks quarterly changes in total cash compensation for full-time, private industry employees and education professionals in the United States. In addition to a national index, it includes separate indices for specific industries, metropolitan areas, job categories, and company sizes. The Payscale Index uses 2006 average total cash compensation as a baseline.