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Category: Economy

Jobs with the Biggest Salary Increases in 2018

Filed under: Economy, Job Market, Job Statistics

You would think some of the more sophisticated job titles would realize the biggest increases in wages, but according to Glassdoor’s latest ranking of jobs showing the fastest wage gains over the past year, it is job positions in lower-skill, lower-paying fields that are seeing the most growth.

Andrew Chamberlain, chief economist of Glassdoor said: “Today’s strong labor market may be starting to improve pay across the income spectrum.” He also noted, “April’s pay gains are the fastest we’ve seen in 2018 so far.”

Out of 84 job titles, here are the Top 10 jobs with the fastest year-over-year growth in median base pay for full-time employees:

  1. Financial Advisor: $55,296 (up 6.4%)
  2. Bank Teller: $30,066 (up 5.5%)
  3. Attorney: $101,817 (up 4.7%)
  4. Truck Driver: $53,878 (up 4.5%)
  5. Delivery Driver: $38,955 (up 4.4%)
  6. Web Developer: $65,414 (up 3.9%)
  7. Network Engineer: $71,433 (up 3.6%)
  8. Cashier: $27,923 (up 3.4%)
  9. Web Designer: $51,875 (up 3.4%)
  10. Security Officer: $35,321 (up 3.3%)

As you can see, the wage growth for lower-paying positions like cashier and delivery driver saw very healthy increases. Financial advisor managed to stay in the top spot as those positions require a lot of communication and people skills (which is harder to automate), according to the report.

As for jobs with the least amount of wage growth, here’s what took last place:

  1. Professor: $86,166 (down 3.3%)
  2. Communications Manager: $65,882 (down 2.5%)
  3. Quality Engineer: $71,467 (down 1.5%)
  4. Bartender: $31,668 (down 1.4%)
  5. Maintenance Worker: $39,907 (down 1.4%)
  6. Research Assistant: $30,391 (down 1.2%)
  7. Technician: $45,318 (down 1.1%)
  8. UX Designer: $76,003 (down 0.9%)
  9. Project Manager: $73,575 (down 0.6%)
  10. Consultant: $72,120 (down 0.6%)

The decrease in pay for professors shows the financially unfortunate state of higher education institutions in this country.

You can read the rest of the article here on Ladders.

April 2018 Jobs Report Shows Promising Market for Jobseekers

Filed under: Economy, Job Market, Job Statistics

The U.S. Department of Labor released statistics about the current job market on May 4th. The results pointed to a more promising situation for jobseekers than in recent months or years. Some highlights are as follows:

 

UNEMPLOYMENT RATE

3.9%

The jobless rate in the U.S. fell to 3.9% in April, touching the lowest mark since December 2000. The rate had been stuck at 4.1% the previous six months. The economy looks different today than it did in the last days of the tech boom. In 2018, interest rates are lower, economic growth is more moderate and the stock market—while preforming well—hasn’t had nearly the same run-up it had in the 1990s

 

JOBS

164,000

U.S. employers added 164,000 jobs to nonfarm payrolls in April. That was slightly weaker than the 195,000 economists surveyed by The Wall Street Journal had expected. But revised figures showed employers added a net 30,000 more jobs than previously estimated in February and March. The monthly pace of hiring this year is 200,000. That’s a healthy clip and stronger than 2017’s average of 182,000 per month.

 

LABOR-FORCE PARTICIPATION

62.8%

The labor-force participation rate fell for the second straight month to 62.8% in April. The rate is near the lowest level recorded since the 1970s, when women were entering the workforce in larger numbers. Friday’s data showed 236,000 Americans exited the labor force in April. That left employers with a smaller pool of available workers and helps explain why the unemployment rate fell

 

You can read the rest of the article here on the Wall Street Journal. 

December Employment Gain Caps Best Year for U.S. Since 1999; Wage Gains Lag

Filed under: Big Data, Economy, Job Statistics

A rise in employment and a falling jobless rate in December capped the best year for the labor market since 1999 and reinforced the U.S. role as the global economy’s standout performer.

The addition of 252,000 jobs followed a 353,000 rise the prior month that was more than previously estimated, a Labor Department report showed today in Washington. The jobless rate dropped to the lowest level since June 2008. The report wasn’t all good news as earnings unexpectedly declined from a month earlier.

An additional 2.95 million Americans found work in 2014, the most in 15 years and a sign companies are optimistic U.S. demand will persist even as overseas markets struggle. The combination of job growth and cheaper gasoline will probably help stretch workers’ paychecks and sustain consumer spending.

Click here to read the rest on Bloomberg >>