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According to job site Glassdoor, the annual median base pay in the United States grew 1.7% year over year (YOY) in June 2017 to $51,324. The Glassdoor Local Pay Reports show pay growth remained sluggish, decelerating to 1.7% from 2.2% revised pay growth recorded last month, marking a five-month slowdown and sharply lower than the 3.1% growth pace in January 2017. For the first time in three years, inflation (1.9%) outpaced wage growth (1.7% YOY) in the U.S. The last time the cost of living was rising faster than wages in the U.S. was July 2014, Glassdoor data shows.
Twenty-five new job titles were added to the Glassdoor Local Pay Reports this month, providing additional insight into wage growth patterns across jobs in retail, health care, technology, labor, manufacturing, and other industries. The monthly reports provide a unique view into the country's wage picture with salary estimates for nearly 85 job titles and year-over-year pay growth trends in the United States. The reports include details on 10 major metros: Atlanta, Boston, Chicago, Houston, Los Angeles, New York City, Philadelphia, San Francisco, Seattle and Washington, D.C.
"Overall, pay growth is slowing in the U.S. This remains a puzzle for economists because unemployment is setting new record lows in many cities. Looking at average U.S. wage growth alone doesn't tell the whole story. Few earn the median U.S. salary, most employees earn a salary relevant to their specific job and city. While we see declining wage growth for jobs where automation is coming, we also see strong pay growth for certain in-demand jobs, as well as sustained high median pay gains for many retail, technology, health care, and professional services jobs," said Dr. Andrew Chamberlain, chief economist of Glassdoor.