Amid surging inflation, the vast majority of Americans have less buying power now than they did a year ago. Though private sector wages increased by 5.2% over the past year, those gains have been wiped out by the rising cost of living, as the consumer price index climbed by 8.2% over the same period.
While most private sector workers have seen a decline in real earnings amid historic inflation, even if their wages increased somewhat, in some occupations wages have actually declined, compounding the effect of the increased cost of living. There are dozens of occupations in which the average hourly wage today is lower than it was a year ago.
Using data from the BLS’s Current Employment Statistics survey, 24/7 Wall St. identified the jobs where pay is falling the fastest. In each of the 30 jobs on this list, average hourly earnings declined by over 3% from August 2021 to August 2022.
The largest share of occupations on this list – eight out of 30 – are in durable goods manufacturing, as pay for workers making motor vehicles and medical equipment has been falling rapidly. An additional four occupations on this list are in nondurable goods manufacturing, specifically jobs making soaps, chemicals, and petroleum products. (Here is a look at the industries where people got the biggest raises during the pandemic.)
With declining hourly pay, at a time when nominal wages are on the rise in most of the private sector, many of these jobs pay less than average. Average hourly wages in 16 of the 30 occupations on this list were below the average of $32.16 an hour across all private sector occupations in August 2022. (Here is a look at the highest paying jobs you can have in America.)
Click here to see jobs where pay is falling the fastest.
30. Other stone miners and quarry workers
> 1-yr. change in avg. hourly earnings: -3.1%
> Avg. hourly earnings, August 2022: $27.86
> Avg. hourly earnings, August 2021: $28.74
> Sector: Mining and logging
> Avg. hourly earnings across sector: $36.40 (+2.8% in past year)
[in-text-ad]
29. Motor vehicle manufacturing
> 1-yr. change in avg. hourly earnings: -3.1%
> Avg. hourly earnings, August 2022: $34.80
> Avg. hourly earnings, August 2021: $35.91
> Sector: Durable goods manufacturing
> Avg. hourly earnings across sector: $32.51 (+3.5% in past year)
28. Surgical appliances and supplies manufacturing
> 1-yr. change in avg. hourly earnings: -3.3%
> Avg. hourly earnings, August 2022: $29.46
> Avg. hourly earnings, August 2021: $30.45
> Sector: Durable goods manufacturing
> Avg. hourly earnings across sector: $32.51 (+3.5% in past year)
27. Soaps, cleaning compounds, and toiletries manufacturing
> 1-yr. change in avg. hourly earnings: -3.4%
> Avg. hourly earnings, August 2022: $30.06
> Avg. hourly earnings, August 2021: $31.11
> Sector: Nondurable goods manufacturing
> Avg. hourly earnings across sector: $28.20 (+3.6% in past year)
[in-text-ad-2]
26. Electronics and appliance store workers
> 1-yr. change in avg. hourly earnings: -3.4%
> Avg. hourly earnings, August 2022: $26.64
> Avg. hourly earnings, August 2021: $27.58
> Sector: Retail trade
> Avg. hourly earnings across sector: $22.97 (+4.2% in past year)
25. Basic chemical manufacturing
> 1-yr. change in avg. hourly earnings: -3.4%
> Avg. hourly earnings, August 2022: $39.47
> Avg. hourly earnings, August 2021: $40.87
> Sector: Nondurable goods manufacturing
> Avg. hourly earnings across sector: $28.20 (+3.6% in past year)
[in-text-ad]
24. Coin-operated laundry and drycleaning workers
> 1-yr. change in avg. hourly earnings: -3.5%
> Avg. hourly earnings, August 2022: $17.12
> Avg. hourly earnings, August 2021: $17.74
> Sector: Other services
> Avg. hourly earnings across sector: $28.30 (+1.9% in past year)
24/7 Wall St.
23. Sugar and confectionery product manufacturing
> 1-yr. change in avg. hourly earnings: -3.5%
> Avg. hourly earnings, August 2022: $25.61
> Avg. hourly earnings, August 2021: $26.54
> Sector: Nondurable goods manufacturing
> Avg. hourly earnings across sector: $28.20 (+3.6% in past year)
22. Miscellaneous professional and commercial equipment operators
> 1-yr. change in avg. hourly earnings: -3.5%
> Avg. hourly earnings, August 2022: $33.15
> Avg. hourly earnings, August 2021: $34.36
> Sector: Trade, transportation, and utilities
> Avg. hourly earnings across sector: $27.74 (+4.4% in past year)
[in-text-ad-2]
21. Electronic connectors and misc. electronic components manufacturing
> 1-yr. change in avg. hourly earnings: -3.7%
> Avg. hourly earnings, August 2022: $26.77
> Avg. hourly earnings, August 2021: $27.81
> Sector: Durable goods manufacturing
> Avg. hourly earnings across sector: $32.51 (+3.5% in past year)
20. Miscellaneous durable goods manufacturing
> 1-yr. change in avg. hourly earnings: -3.9%
> Avg. hourly earnings, August 2022: $29.37
> Avg. hourly earnings, August 2021: $30.55
> Sector: Durable goods manufacturing
> Avg. hourly earnings across sector: $32.51 (+3.5% in past year)
[in-text-ad]
19. Office equipment trade and transportation workers
> 1-yr. change in avg. hourly earnings: -4.4%
> Avg. hourly earnings, August 2022: $28.86
> Avg. hourly earnings, August 2021: $30.19
> Sector: Trade, transportation, and utilities
> Avg. hourly earnings across sector: $27.74 (+4.4% in past year)
18. Petroleum and coal product manufacturing
> 1-yr. change in avg. hourly earnings: -4.6%
> Avg. hourly earnings, August 2022: $42.38
> Avg. hourly earnings, August 2021: $44.42
> Sector: Nondurable goods manufacturing
> Avg. hourly earnings across sector: $28.20 (+3.6% in past year)
17. Real estate credit bankers
> 1-yr. change in avg. hourly earnings: -4.6%
> Avg. hourly earnings, August 2022: $46.74
> Avg. hourly earnings, August 2021: $49.00
> Sector: Financial activities
> Avg. hourly earnings across sector: $41.49 (+3.2% in past year)
[in-text-ad-2]
16. Turbine and power transmission equipment manufacturing
> 1-yr. change in avg. hourly earnings: -4.7%
> Avg. hourly earnings, August 2022: $34.63
> Avg. hourly earnings, August 2021: $36.35
> Sector: Durable goods manufacturing
> Avg. hourly earnings across sector: $32.51 (+3.5% in past year)
15. Electronics store workers
> 1-yr. change in avg. hourly earnings: -4.8%
> Avg. hourly earnings, August 2022: $26.31
> Avg. hourly earnings, August 2021: $27.63
> Sector: Retail trade
> Avg. hourly earnings across sector: $22.97 (+4.2% in past year)
[in-text-ad]
14. Carpet and upholstery cleaning services
> 1-yr. change in avg. hourly earnings: -4.9%
> Avg. hourly earnings, August 2022: $20.77
> Avg. hourly earnings, August 2021: $21.85
> Sector: Professional and business services
> Avg. hourly earnings across sector: $38.62 (+4.2% in past year)
24/7 Wall St.
13. Boilers, tanks, and shipping container manufacturing
> 1-yr. change in avg. hourly earnings: -5.1%
> Avg. hourly earnings, August 2022: $29.61
> Avg. hourly earnings, August 2021: $31.19
> Sector: Durable goods manufacturing
> Avg. hourly earnings across sector: $32.51 (+3.5% in past year)
12. Other transportation goods workers
> 1-yr. change in avg. hourly earnings: -5.1%
> Avg. hourly earnings, August 2022: $36.73
> Avg. hourly earnings, August 2021: $38.71
> Sector: Trade, transportation, and utilities
> Avg. hourly earnings across sector: $27.74 (+4.4% in past year)
[in-text-ad-2]
11. Collection agency workers
> 1-yr. change in avg. hourly earnings: -5.3%
> Avg. hourly earnings, August 2022: $23.35
> Avg. hourly earnings, August 2021: $24.65
> Sector: Professional and business services
> Avg. hourly earnings across sector: $38.62 (+4.2% in past year)
10. Other grantmaking and giving service workers
> 1-yr. change in avg. hourly earnings: -5.6%
> Avg. hourly earnings, August 2022: $38.38
> Avg. hourly earnings, August 2021: $40.67
> Sector: Other services
> Avg. hourly earnings across sector: $28.30 (+1.9% in past year)
[in-text-ad]
9. Industrial process variable instrument manufacturing
> 1-yr. change in avg. hourly earnings: -6.3%
> Avg. hourly earnings, August 2022: $36.74
> Avg. hourly earnings, August 2021: $39.19
> Sector: Durable goods manufacturing
> Avg. hourly earnings across sector: $32.51 (+3.5% in past year)
8. Marketing research and public opinion pollsters
> 1-yr. change in avg. hourly earnings: -6.6%
> Avg. hourly earnings, August 2022: $39.97
> Avg. hourly earnings, August 2021: $42.81
> Sector: Professional and business services
> Avg. hourly earnings across sector: $38.62 (+4.2% in past year)
7. Document preparation service workers
> 1-yr. change in avg. hourly earnings: -8.4%
> Avg. hourly earnings, August 2022: $20.16
> Avg. hourly earnings, August 2021: $22.02
> Sector: Professional and business services
> Avg. hourly earnings across sector: $38.62 (+4.2% in past year)
[in-text-ad-2]
6. Druggists’ goods trade and transportation workers
> 1-yr. change in avg. hourly earnings: -8.8%
> Avg. hourly earnings, August 2022: $45.17
> Avg. hourly earnings, August 2021: $49.52
> Sector: Trade, transportation, and utilities
> Avg. hourly earnings across sector: $27.74 (+4.4% in past year)
5. Clothing accessories store workers
> 1-yr. change in avg. hourly earnings: -8.9%
> Avg. hourly earnings, August 2022: $31.05
> Avg. hourly earnings, August 2021: $34.09
> Sector: Retail trade
> Avg. hourly earnings across sector: $22.97 (+4.2% in past year)
[in-text-ad]
4. Medical equipment and supply manufacturing
> 1-yr. change in avg. hourly earnings: -9.2%
> Avg. hourly earnings, August 2022: $30.95
> Avg. hourly earnings, August 2021: $34.09
> Sector: Durable goods manufacturing
> Avg. hourly earnings across sector: $32.51 (+3.5% in past year)
3. Land subdivision workers
> 1-yr. change in avg. hourly earnings: -10.4%
> Avg. hourly earnings, August 2022: $38.07
> Avg. hourly earnings, August 2021: $42.47
> Sector: Construction
> Avg. hourly earnings across sector: $35.00 (+5.5% in past year)
2. Spectator sports workers
> 1-yr. change in avg. hourly earnings: -10.6%
> Avg. hourly earnings, August 2022: $33.12
> Avg. hourly earnings, August 2021: $37.04
> Sector: Leisure and hospitality
> Avg. hourly earnings across sector: $20.01 (+7.8% in past year)
[in-text-ad-2]
1. Business to business electronic trade and transportation workers
> 1-yr. change in avg. hourly earnings: -11.4%
> Avg. hourly earnings, August 2022: $41.14
> Avg. hourly earnings, August 2021: $46.44
> Sector: Trade, transportation, and utilities
> Avg. hourly earnings across sector: $27.74 (+4.4% in past year)
Get Ready To Retire (Sponsored)
Start by taking a quick retirement quiz from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes, or less.
Each advisor has been vetted by SmartAsset and is held to a fiduciary standard to act in your best interests.
Here’s how it works:
1. Answer SmartAsset advisor match quiz
2. Review your pre-screened matches at your leisure. Check out the advisors’ profiles.
3. Speak with advisors at no cost to you. Have an introductory call on the phone or introduction in person and choose whom to work with in the future
Get started right here.
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
