Significant wage growth predicted in the four hottest industries to watch
PALM BEACH, FLORIDA (PRWEB) MAY 16, 2017
PeopleTicker™, the global standard for real-time salary and labor rates announced today that U.S. wage growth is rising much faster than Q1 reports previously indicated. This announcement coincides with positive job news from ADP, whose April National Employment Report indicated a continuing trend of higher than expected job growth in the private sector, adding 177,000 jobs in April.
"While job growth has been trending up over the last few months, wages are now rising too. I am excited to share this new information indicating a sizeable increase in real wages for the first time in many years," said Joe Musacchio, CEO of PeopleTicker. Our AI-based predictive pricing analysis is forecasting sustained wage growth throughout 2017 which is good news for American workers and the US economy.” Our data also indicates four industries to watch that have the potential to climb into double digits this year: Information Technology, Healthcare, Oil and Gas, and Pharmaceutical and Life Sciences,” added Musacchio.
PeopleTicker's Wage and Salary Index Report for April 2017 provides the following findings: new hire information technology workers with degrees are seeing 7% higher salaries outpacing other roles with a less than 3% increase. Demand for contingent technical consultants in the United States is increasing with wages rising up to 9% since 2nd quarter 2016. Technology roles in China, India, Poland, and the UK are also seeing increases from 5-20% for these same workers with college degrees. Manufacturing and Construction will see massive job growth, with skilled roles in this industry seeing higher than normal wage growth due to demand.
PeopleTicker’s Wage and Salary Index is a monthly report derived from actual data collected from its compensation software.
To learn how your salaries and contingent rates compare to market, download our app PeopleTicker - Salary and Hourly Rates and create your own Private Labor Index. With PeopleTicker’s Private Labor Index you have the ability to drill down into each element of your labor spend including both direct and contingent workers to discover new insights. This breakthrough technology keeps you ahead of the compensation game without the need for expensive consultants or relying on outdated survey data. Strengthened by over 18 years of wage research in nearly 160 countries, our data management, analytics, and SkillsVillage validation processes are unmatched in the industry. PeopleTicker’s SkillsVillage is a global ecosystem of experts in procurement, human resources, and recruiting that provide crowd-sourced rate validation.