Accordingly, we present here The PayScale Index that studies the changes in wages for full-time, private-sector employees. The Index displays 2011 year-end results and is prepared by PayScale.com whereas apart from providing a national trend line, the Index also monitors deeply the dissimilarity in wage growth by city. As per the PayScale.com research, metro areas with flat incomes lag behind in economic diversity and suffer primarily from a high presence of weak industries, like construction and hospitality.
The following list comprise of the five metro areas having the lowest wage growth between Q4 2010 and Q4 2011 as per
The PayScale Index.
1. Riverside, California
Q4 YOY Wage Growth: -3.1 Percent
The Riverside-San Bernardino-Ontario metropolitan area that is also famously referred to as the Inland Empire suffers as the unemployment rate of 13.2 percent being amongst the highest in the nation in regions of more than 1 million people. It also compels educated workers to travel to coastal counties, in pursuance of the Inland Empire Economic Partnership.
Riverside region suffered a massive set-back from the housing bubble burst and still has not recovered from the ruins in the housing markets like real estate and construction. That housing and construction industry damage has forced the wages in Riverside to slump by almost 7 percent since the crest-levels in 2008.
Construction worker salary: $39,484
2. Baltimore
Q4 YOY Wage Growth: -0.1 Percent
Baltimore witnessed the wages falling then rising again in 2011, but concluding the year at the same where they began. A lesser population does make Baltimore more vulnerable to wage swings; but the real reason according to PayScale.com is the city’s ongoing unemployment, which stands at 9.3 percent as of November 2011.
However, Baltimore’s top 10 employers are healthcare providers, as per the Baltimore Development Corp., and given the fact that healthcare is a comparatively strong labor market that is anticipated to witness an increasing demand as the population grows old, the city is poised to experience an improvement in the labor market.
Certified nurse assistant salary: $34,754
3. Tampa
Q4 YOY Wage Growth: -0.1 Percent
Tampa’s unemployment rate is yet above the national average attributed partly to the existence of several financial institutions, that underwent staff cuts. Pair Tampa’s dependence on tourism with lesser people going on vacations, and Tamps seems under pressure to rebound.
The strong point of the various industries in Tampa is relative and thus influencing the wage growth. As some industries like healthcare and IT have performed well in recent years, others like transportation and hospitality are not that well doing. This neutral factor has left Tampa have a relatively no wage growth since Q1 2010.
Personal banker salary: $43,505
4. Dallas
Q4 YOY Wage Growth: 0.1 Percent
Energy and telecommunications contribute the most to the paychecks of Dallas/Fort Worth residents. Still this area possess the tag of being the 14th largest metro economy in the world, as per a PricewaterhouseCoopers research-study, it’s and is also address of major corporations in fragile industries like finance and airline travel.
Also, the presence of energy sector in Dallas is outshined by bigger industries like retail and financial operations. These two industries have undergone some wage growth as compared to oil and gas exploration according to PayScale.com.
Retail sales associate salary: $23,322
5. New York City
Q4 YOY Wage Growth: 0.3 Percent
New York City claims a fair pie of fast-growing startups owing to the inventiveness with the likes of Mayor Michael Bloomberg’s Council on Technology and Innovation. The aftereffects of recession are yet being tolerated in the financial world. This has lead to pay-levels in New York to proceed with a sluggish path to recovery.
Certified public accountant salary: $68,805
