As the workforce in America continues to grow, employees may be seeing increases in pay – all thanks to the strong labor market. Job search engine and company review site Glassdoor examined millions of job postings in 2019 to determine which occupations saw the fastest growing pay rates – and pharmacy technicians took the cake. With a median base pay of $31,722, pharmacy technicians enjoyed the highest pay boost of 7.8%, but there’s more that rising pay rates can tell us about the American economy today.
Pharmacy technicians weren’t the only employees to see their payrolls profit. In second place, machine operators reported an increase of 5.3% of their median base pay of $40,212, whereas truck drivers’ $55,694 median salary grew by 5.2%. Growing pay rates often reflect the state of companies and businesses all over the nation. With more than seven million jobs open today, there are now more job openings than unemployed workers.
Although rising minimum wage rates spur economic growth and benefit individual businesses, it adversely forces large companies to hire less or even outsource their workforce. Economists believe that the best solution for this delicate economy is for the government to find a healthy balance between aiding employees while allowing companies the flexibility to remain competitive in this day and age.