ERI's Quarterly “National Compensation Forecast” Released for Jan 2020

The updated quarterly report “National Compensation Forecast” (NCF) was released January 6, 2020. Each quarter, ERI examines the rates at which salaries have increased and provides guidance on the expected increase for the upcoming quarter. The report predicts how the average American workers salary will be affected over the year 2020 by tracking past trends from the robust salary data base.

Specific data used represents 1,482 occupations consistently surveyed over a span of 20 years covered in this report.

The NCF reported salary growth year over year from 2019 to 2020.

• Last quarter of 2019 saw higher than expected salary increase at 0.73% reported growth, compared to 0.53% expected growth.
• Average growth rate over 20 years is 0.67%.
• Above average growth through all 4 quarters of 2019 lead to an overall higher than expected wage growth of 2.83%.
• Job families with fastest growth are Professional Field, Information Technology, and Clerical Field.
• Job families with fastest growth are Professional Field, Information Technology, and Clerical Field.

The full report is available on ERI Economic Research’s website, www.erieri.com, and found here: National Compensation Forecast – January 2020