With Minneapolis-St. Paul's healthcare industry booming, scientist Erin Nelson fielded more than 20 unsolicited calls in the past year asking her to consider switching jobs. She took one in September at a 40 percent raise.
"Pay is becoming much more competitive," said Nelson, 35, who designs research projects for medical-device companies. "It is a nice feeling to have job security, that there are jobs out there."
While much of the U.S. seems trapped by tepid wage growth—fueling election-year anger among voters and keeping Federal Reserve policy on hold—Minneapolis-St. Paul has been doing quite nicely. The metro area generated 4.9 percent average wage and salary gains, Employment Cost Index figures from the Labor Department released Jan. 29 show. Cities including Nashville; Portland, Oregon; Seattle; and Dallas also face worker shortages that have pushed up pay.
Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.
Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
- Exclusive discounts on ALM and Treasury & Risk events.
- Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.
*May exclude premium content
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
