The tight labor market is squeezing out fatter salaries for Milwaukee workers, according to a new survey.
Comparing jobs earning average salaries ranging from $15,000 to $80,000 nationally, workers in the Milwaukee area are earning slightly more, says the latest annual survey from William M. Mercer Inc. That’s an improvement from 1998 and a turnaround from below-average salaries here just three years ago.
For example, a worker in a job that pays an average of $50,000 nationwide gets $350 more in the four-county Milwaukee area, according to the survey. In the 1996 Mercer study, that worker earned $250 less than the national average.
“I’m surprised how fast we’ve moved up to the national average and exceeded it,” said Paul Knowles, a principal in Milwaukee for the benefits consulting firm. “The shortage of workers is causing salaries to go up.”
That’s a reasonable conclusion, said August Cibarich, chief labor market analyst for the Wisconsin Department of Workforce Development. “It’s not only tighter, it’s been tighter longer.”
More Top Picks Best Multivitamins For Seniors With Heart Disease
The latest state unemployment rate, 3.4 percent for February, is the 138th month in a row Wisconsin’s rate was lower than the national rate.
Madison and La Crosse both placed consistently below the national salary averages, though not as far below as in past surveys.