Sept. 28 - Personal income rose in August but was eroded by inflation - as the realities of job hunters securing pre-recession salaries look grim. Salary.com runs through the best and worst post-recession jobs in 2012. Jill Bennett reports.
Looking to make a good salary in this day and age...head into healthcare. Pharmacists have seen their salaries gain nearly 10 percent since the end of the recession, according to Salary.com. Meantime, other sectors struggle to post even a modest increase. Salary.com's General Manager Abby Euler: SOUNDBITE: ABBY EULER, GENERAL MANAGER, SALARY.COM (ENGLISH) SAYING: "Industries that require the consumer to have money like construction, like retail, those are the industries we see not doing well. So if you look at retail staff they've only seen a 1 percent salary growth; mechanical technicians, assembles, carpenters they've only seen 1-2 percent growth. So those are definitely going to be the hardest hit industries because they are so dependent on the macro-economic scene." Salary.com research shows the hardest hit jobs tend to be ones with lower barriers for entry which increases the number of applicants. Layoffs are more common than salary cuts during recessions - which impact lower paid new hires. On the flip side: The healthcare, pharmaceutical and IT industries proved to be the big winners - picking up some of the largest post-recession salary gains. And, strength in America's mom and pop businesses may help....according to PayNet's database on small business lending. William Phelan, President of PayNet: SOUNDBITE: WILLIAM PHELAN, PRESIDENT, PAYNET (ENGLISH) SAYING: "We see improvement in construction companies, agricultural companies and transportation companies, manufacturing companies. There is some positive economic activity happening out there that I think bodes well for jobs." Still, salaries rose just 4 percent from 2007 to 2012, compare that to the average annual increase of 3 percent pre-recession. The latest government data doesn't help. Incomes grew just one tenth of one percent last month - which was completely eroded by inflation. SOUNDBITE: ABBY EULER, GENERAL MANAGER, SALARY.COM (ENGLISH) SAYING: "If you think about cost of living, cost of living is continuing to go up, debt for the folks will continue to go up so it's almost like a net zero gain for anybody." Unless you have the corner office....Salary.com estimates CEO pay increased by 14 percent in the past 3 years. Jill Bennett, Reuters.