January 6, 2018

Worcester’s wage winners

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Sun graphic / Amy M. Capobianco

(Source: U.S. Bureau of Labor Statistics)

The Worcester finance industries’ average wage has increased 31 percent since the financial crisis of 2007-8, more than twice Worcester’s overall wage growth and three times its fastest-growing employment sector: health and education services. But the number of financial sector jobs has not kept pace with labor force growth.

Despite Worcester County adding 72,000 jobs overall in the last 25 years, there are the same amount of finance jobs today as there were in 1992. Both Massachusetts and U.S. financial industry statistics also show large wage growth with little employment growth.

Finance has been evolving along with technology.

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