U.S. wages grow 2.9 percent over past year
This is according to the ADP Research Institute Workforce Vitality Report (WVR).
The growth, down from 3.1 percent annual growth as of December 2017, was driven by strong wage gains for workers in the information industry (5.6 percent wage growth, $41.38 average hourly wage), in the West (3.5 percent, $29.27) and from small businesses (3.3 percent, $25.47).
Employees in the resources and mining industry (1.7 percent, $34.96) and in the South (2.5 percent, $25.61) had the slowest wage growth.
Among industries, information continued to lead the way for both wage level and wage growth.
In addition to the top overall wage growth number of 5.6 percent, new entrants into the information field had 7.6 percent wage growth.
Those who successfully switched positions within the information industry had wage growth of 8.3 percent. Employment in the information industry, however, grew just 1.2 percent.
The resources and mining industry had the lowest overall wage growth, just 1.7 percent.
New entrants into the field showed negative wage growth, at -3.5 percent.
Employment in the resources and mining industry grew 4.2 percent. ■