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Wage growth strong for San Antonio jobs

Saturday, February 21st, 2015

The wage growth for San Antonio jobs may vary but shows strong growth, along with other regions, according to a report from ADP.

The ADP Workforce Vitality Index, which measures the total wages paid to the U.S. private sector workforce, was 106.7 in the fourth quarter of 2014.

The index rose by 4.8% between the fourth quarter of 2013 and the fourth quarter of 2014.

The movement in the index depends on the contributions of wages and hours of workers who have remained in the same jobs from the previous quarter, the wages and hours of workers who switched jobs during the quarter, and employment changes.

The strongest growth over the past year has been in Construction, 8.4%, thanks to a combination of strong employment growth, wage growth and an increase in hours worked.

Manufacturing WVI advanced by 6.3% due to growth in wages and employment in large companies with more than 1,000 workers.

The WVI in Leisure & Hospitality and Trade advanced just over 6%, due to solid gains in both wages and employment. Financial service workers enjoyed strong wage growth of 5.9%, but experienced weak employment growth. Meanwhile, the weakest index growth has been in Professional/Business Services and the Education/Healthcare sector, mostly due to weak wage growth.

Growth in wages and employment were keys to the strong fourth quarter of 2014. Hours worked went down slightly during the quarter. Job switchers’ wages grew at a much faster pace than job holders, though the gap has closed a bit year-over-year.