Deep Dive: Wages have been seeing big jumps! A look at what jobs are seeing higher wages
In this week's Deep Dive, News 12's Kristie Reeter and Caleb Silver with Investopedia are looking to see what jobs are seeing higher wages.
Wages have been seeing big jumps, but inflation may be cutting into that. Recent reports show wages hit the highest growth in 20 years!
News 12 asked on Twitter: Did you see a change in your paycheck over the past year? The most votes were for “my wages stayed the same” at 41%, while 30% said they went up and 27% said they went down. Silver is breaking down what is being seen in New Jersey.
“Yes, wages across the country have been growing 8.86% over the past couple of years,” says Silver. “In the Garden State, only 4.84%, but still some nice wage growth, just not keeping pace with the rest of the country."
Are there any particular industries where the paychecks have been growing the most?"
"Yeah, the manufacturing industry in New Jersey has seen the steepest wage growth there,” says Silver. “About 13.6% the average hourly wage there is $34.06 in that industry, but education and health services is also seeing some growth, 13.2% over the past couple years, and leisure and hospitality, that is where the job growth has been the steepest. That is also seeing wage growth, but the hourly wage is only $18.91 in restaurants, bars, in the hospitality sector."