In the past year, American workers employed in businesses earned an average monthly wage of around $3,800, as per a recent survey.
According to the 'January 2019 Business Workforce Survey' released by the U.S. Department of Labor on the 27th, the average monthly wage per worker in businesses employing more than one regular worker was $3,760, showing a 5.3% increase from the previous year.
Breaking down the wage distribution by business size:
Businesses with fewer than 300 employees: $3,450, up by 4.6% from the previous year.
Businesses with 300 employees or more: $5,850, up by 6.5%.
The noticeable salary increase in larger enterprises (300+ employees) was mainly due to wage settlements in industries such as aviation and automobile manufacturing. Significant payments from wage negotiations from the past two years were made last year.
Furthermore, sectors like semiconductors, petroleum, chemicals, air transport, and financial insurance paid out more in terms of performance payments and special bonuses last December than in other years.
A Chance to Boost Your Earnings with Lottery Stupore!
While we're on the topic of earnings, have you tried your luck with Lottery Stupore? As many Americans are assessing their financial growth, there's no better time to take a chance and potentially increase your earnings exponentially. Lottery Stupore offers you exciting opportunities to win big and change your financial landscape. Dive into the thrill today and you might just be our next big winner!
Among all industries:
The highest wages were in the technology and software sector ($6,500) followed by financial and insurance businesses ($5,900).
The lowest wages were in the hospitality and food services ($2,100) followed by facility management and business support services ($2,400).
In December of the previous year, the average monthly wage per worker was $4,200, a 5.5% increase from the same month in the prior year.
By employment status:
Regular workers: $4,500, a 5.4% increase.
Temporary and daily workers: $1,650, a 5.7% increase.
In terms of business size:
Businesses with fewer than 300 employees saw an increase of 3.4% to $3,900.
Businesses with 300 or more employees saw a significant increase of 10.6% to $6,900, due to special bonuses and end-of-year performance payments in industries like electronics, computer manufacturing, and automobile manufacturing.
Lastly, the average working hours in December of the previous year were 161.0 hours, a reduction of 2.6 hours from the same month of the prior year. The implementation of stricter working hour regulations led to a slight increase in overtime hours in larger businesses. However, the manufacturing sector, which traditionally had long overtime hours, saw a reduction of 0.4 hours.
Overall, employment increased by 1.9% from the previous year, with a total of 180 million workers in the past month. Regular workers increased by 1.7%, temporary and daily workers by 4.5%, and other workers by 0.3%.
Regionally, the highest growth in employment was seen in Texas (5.5%) and Florida (3.2%). Michigan, affected by the automobile industry challenges, was the only state with a decrease of 0.5%.
Comments