Wage growth outpaced the overall private sector in 4 out of the 5 related industries in recent quarters – led by hospitality sector employees. Average hourly earnings of employees in the restaurants and accommodations sector jumped 13.4% between the first quarters of 2021 and 2022. That was more than double the wage increase of employees in the overall private sector. Average hourly earnings of employees in the skilled nursing sector increased 10.6%


between the first quarters of 2021 and 2022. That represented the 7th time in the last 8 quarters with wage gains above 6%. The average hourly earnings of hospital employees increased 7.7% between the


first quarters of 2021 and 2022. That was a full 2 percentage points above the 5.7% increase in private sector wages. Average hourly earnings of employees in the retail sector increased 6.3% between


the first quarters of 2021 and 2022, which represented the 14th consecutive quarter with growth above 4%. Average hourly earnings of employees in the home health care sector increased


5.2% between the first quarters of 2021 and 2022. That marked the eighth consecutive quarter with growth above 4%.


WAGE GROWTH WAS HEALTHY ACROSS THE RELATED INDUSTRIES


Trends in Average Hourly Earnings: Related Industries


Average Hourly Earnings 2022: Q1


Senior Living Industry


Continuing Care Retirement Communities Assisted Living Communities


Skilled Nursing Hospitals


Home Health Care Retail Trade


Restaurants and Accommodations Total U.S. Private Sector


$21.48 $22.15 $20.81


$24.14 $38.79 $23.33 $22.71 $18.62


$31.78


2021: Q1 to 2022: Q1


11.5% 12.2% 11.0%


10.6% 7.7% 5.2% 6.3% 13.4%


5.7% Source: Argentum analysis of data from the Bureau of Labor Statistics; figures are not seasonally adjusted 2019 to 2020


5.2% 4.1%


6.5%


6.6% 3.5% 5.8% 5.9% 2.6%


4.9% 2018 to 2019


3.3% 1.7%


5.3%


3.8% 2.7% 3.7% 4.8% 3.7%


3.2%


SEPTEMBER/OCTOBER 2022 ARGENTUM.ORG 25


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