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Monthly salary were calculated from median weekly salary.
Data represent salary before taxes.
*Data for 2024 is currently available for the first two quarters only, as the year has not yet concluded.
Source: Bureau of Labor Statistics
Overview of Average Salary in US per Month Trends
In 2015, U.S. average salary per month was approximately $3,504.58. This figure has steadily increased each year, reflecting broader economic trends such as inflation, labor market tightness, and shifts in industry practices.
Gradual Increases Through the Years
By 2016, average salary in us per month had risen slightly to $3,604.17. The trend continued with a consistent annual increase. In 2017, average earnings grew to $3,722.08, and by 2018, they reached $3,839.33. This gradual increase can be attributed to a recovering economy post-recession, with businesses and industries expanding and increasing wages to attract and retain talent.
Acceleration of Average Monthly Salary in US Post-2019
The year 2019 marked a significant bump in earnings to $3,973.83, influenced by economic growth and possibly adjustments in minimum wage laws in several states. As the economy strengthened, average salaries saw a more pronounced rise. By 2020, the average monthly earnings had jumped to $4,268.42, a substantial increase likely impacted by a competitive labor market and higher living costs.
Sustained Growth Into the 2020s
The growth continued through 2021 and 2022, with average monthly earnings reaching $4,321.25 and $4,584.58, respectively. These increases underscore the ongoing adjustments in wage scales across various sectors to keep pace with economic conditions and inflation.
Current Data and Future Projections
In 2023, the average monthly salary in US further increased to $4,835.42. The first and second quarters of 2024 shows a continuation of this trend, with average earnings projected at about $4,955.17. This projection indicates robust wage growth, reflecting ongoing economic expansion and possibly new labor market policies.
Conclusion and Outlook
From 2015 to early 2024, there has been a steady rise in the average monthly salary in the U.S., signaling strong economic health. This trend shows that employers are increasingly offering competitive wages to meet changes in the economy and society. Moving forward, it's important for businesses and policymakers to keep adjusting to the changing needs of the labor market to maintain this growth.
Disclaimer: The information in this article about U.S. average monthly salaries is for general informational purposes only and should not be considered as financial advice.
