Not all sectors of the U.S. economy have had the same impact from the COVID-19 pandemic, and not all are recovering at the same rate. Some sectors enjoyed steady growth throughout the pandemic, especially those where business could be conducted remotely. Others, like hospitality and tourism, took a big hit that resulted in millions of lost jobs and closures.
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As business researcher AdvisorSmith noted in a recent report, a common theme emerging from the economic recovery is the increase in costs of both raw materials and labor. Many businesses are reporting shortages of available workers. That’s bad news for businesses, but good news for employees in economic sectors where wages have risen.
AdvisorSmith examined data from the U.S. Bureau of Labor Statistics to find the sectors and jobs where average hourly wages have risen the most. Nationally, the average hourly wage for private-sector workers rose by 9.9% between May 2019 and May 2021, from an average of $23.36 per hour in May 2019 to $25.67 per hour two years later.
Here’s a look at some of the occupations that benefited the most, with the two-year average wage increases based on BLS data.
