Best industries for pay raises revealed

Best industries for pay raises revealed

Health care is one industry seeing the best pay raises.

Five years after the end of the Great Recession, salary increases are sharply divided across different industries, a report from The Associated Press reveals.

While overall pay has risen with inflation at approximately two percent a year, the report finds that the best raises have gone to skilled workers in a few industries — energy, transportation, health care and technology, to name a few. Meanwhile, workers in retail and government have seen their wages stagnate.

“If you’re in an in-demand field, with the right skill set, the chance of getting a raise is much higher,” Katie Bardaro, an economist at PayScale, a pay-tracking firm, told The AP.

Wages in trucking, for example, have surged as manufacturing has picked up with the recovery. The AP reports that for the first time in over three decades, hourly pay for transportation and warehouse workers was 4.4 percent higher than a year earlier in each of the past three months.

Economists point to some signs of optimism even for workers in wage-depressed industries. According to The AP, a third of small businesses plan to raise pay within six months, which is double the proportion from last year. Also encouraging, the unemployment rate among workers who lost jobs less than six months ago is 4.1 percent, below its 30-year average.

Not surprisingly, many of the jobs listed in the U.S. News 100 Best Jobs of 2014 report can be found in industries seeing the best raises. The following jobs in the health care industry, for example, made the top ten: dentist, nurse practitioner, pharmacist, registered nurse, physical therapist and physician.

 

 

 

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