With US median base pay at $51,000, wage growth remains stagnant
- Wages for workers in the U.S. remained stagnant year over year, according to a new Glassdoor report, putting the country's annual median base pay at $51,210.
- The report found the greatest wage growth in healthcare and retail jobs. Wage growth slowed, however, in the tech industry and among jobs that automation is expected to claim over time, says Glassdoor.
- Glassdoor attributes part of the stagnation to changes in the workforce's composition. Some who were out of work earlier this year joined the workforce during 2017's later months as the economy improved, taking lower-paying jobs just to be employed.
As the U.S. remains near full employment, some employers haven't made wage increases a priority. But as businesses continue to report a skills gap, some experts have suggested that better compensation is the answer.
Some employers have reported plans to use their savings from the new tax law to do just that. Various companies have announced plans to raise their minimum wage to $15 an hour; give non-executive workers one-time bonuses; invest more money in retirement plan contributions; expand benefits, training and development opportunities for employees; and increase support for their communities and philanthropic interests.
For others, new laws will force their hand. Minimum wage increases ranging from $12 to $15 per hour took effect on Jan. 1 in 37 states and municipalities, and more increases are expected later this year. While the federal government continues to roll back regulations that businesses find burdensome, employment experts say stakeholders will likely see more states and cities passing their own laws on minimum wage, overtime thresholds and more.