Career Development

2 reasons why industry is driving wage growth

Think high tech or service jobs have the best wages? Think again.

By Dan Hebert, PE, Control Design

Despite recent blips, the U.S. stock market is near all-time highs, and the country has experienced years of uninterrupted growth. It’s party time again in Silicon Valley as multiple high-tech companies have valuations in the billions, many with nary a profitable quarter. On a wider front, the U.S. unemployment rate is respectable at around 5-6%.

But amid these positive signs, wage growth has been anemic, as explained in this April 2015 Economist blog, titled “Why American wage growth is so lousy,” which related, “Inflation-adjusted wages for typical workers are stagnant. In fact, they have barely grown in the past five years; average hourly earnings rose 2% year-on-year in February of 2015: about the same as in February of 2010.” So where is U.S. wage growth going to come from?

To learn more about industrial wages, read “Industrial enterprises to drive wage growth” from Control Design.

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