Issue link: https://read.uberflip.com/i/1518095
ManpowerGroup: Global Insights | 16 MoM Change – Jan 2024 to Feb 2024 Health care, materials, communications, and consumer discretionary saw good salary growth, while industrials, certain consumer sectors, and financials experienced declines. Insights by IT Role – MoM: • Application Engineers and IT Services roles saw solid salary growth from Jan 2024 to Feb 2024, with increases around 5-15% for most industries. • However, some declines seen for Application Engineers in Aerospace & Defense (-4%) and IT Services in Internet Software/Services (-5%). • Highest Feb 2024 IT salaries are for Application Engineers in Specialty Telecommunications ($111K) and IT Services in Financial Publishing/Services ($106K). • Lowest are IT Services in Local Agencies ($61K) and Application Engineers in Local Agencies ($68K). Wage Increases/Decreases by Industry: Biggest Increases: • Health Care: Several health care industries saw strong salary growth from Jan to Feb 2024, including Biotechnology (26%), Drugstore Chains (14%), Medical/Nursing Services (6%), and Pharmaceuticals: Generic (120%). • Materials: Industries like Aluminum (12%), Chemicals: Major Diversified (9%), Construction Materials (12%), and Other Metals/Minerals (31%) had nice salary bumps. • Communication Services: Major Telecommunications salaries rose 30% and Publishing: Newspapers went up 33%. • Consumer Discretionary: Electronics/Appliance Stores was up 28%, Consumer Sundries 16%, and Specialty Stores 22%. Biggest Decreases: • Industrials: Industries like Air Freight/Couriers (-9%), Industrial Machinery (- 6%), Office Equipment/Supplies (-11%), and Railroads (-19%) saw salaries decline. • Consumer Discretionary: Apparel/Footwear (-1%), Discount Stores (-12%), Motor Vehicles (-15%), and Textiles (-39%) had downward moves. • Financials: Specialty Insurance had the biggest drop at -24%. Property/Casualty Insurance (-4%) and Savings Banks (-8%) also decreased Blue-Collar Role - MoM: • Most blue collar roles saw modest salary changes from Jan 2024 to Feb 2024. Increases around 2-7% for Accountants, Business Operations, Distribution Specialists. Retail Roles – MoM: • Cashiers and Sales roles saw mostly flat or very small salary changes from Jan 2024 to Feb 2024, ranging from -5% to +10% across industries. • Highest Feb 2024 salaries for retail roles are Cashiers in Biotechnology ($60K) and General Government ($61K). • Lowest salaries are in Discount Stores ($26K), Department Stores ($30K), and Real Estate Development ($30K). Source: Sophie, Only at ManpowerGroup , data as of Jan 29, 2024