Indicator 2: Occupations and Wages
How Does Massachusetts Perform?
Massachusetts had higher average wages than the LTS and the U.S. overall in all occupational categories tracked by the Index, with the exception of Social Services, where average wages in Massachusetts were 2.8% lower than the LTS average. The gap between Massachusetts and the LTS in overall wages is even larger than in any specific category. This indicates that Massachusetts has a larger percentage of its employment in high paying occupational categories. Below we highlight certain key occupational categories:
- Business, Financial, and Legal Occupations earn an average wage of $112,544 in Massachusetts, higher than any other occupational category. This is 8.8% and 14.3% higher than their counterparts in the LTS and U.S. respectively. More than 500,000 workers in Massachusetts hold such an occupation.
- Healthcare wages have continued to grow in Massachusetts and remain higher than the LTS and U.S. as a whole, and is the category that the difference is most similar between the LTS (17.2%) and U.S. averages (20%) and is the only category to be stable in employment numbers.
- Wages for Production in Massachusetts are higher than in the LTS by 8.5%, and 9.2% higher than the U.S. as a whole. However, at an average of $41,750 in Massachusetts, this is the second lowest wage category tracked by the Index.
Data Source for Indicator 2: BLS Occupational Employment Statistics, Consumer Price Index (CPI)