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Comparing an industry’s average hourly earnings contribution with its employment share
January 12, 2026
Industries with large contributions to changes in total private hourly earnings tend to have large employment bases. Those contributions to earnings changes are not always proportional to the industries’ employment shares, however.
Professional and business services accounted for 26.7 percent of the private sector’s overall earnings gain from December 2023 to December 2024, even though the industry made up 16.9 percent of all private-sector employment in December 2023. Private education and health services accounted for 19.3 percent of earnings growth, nearly identical to its 19.4-percent employment share.
Percent of December 2023 total private employment level and percent contribution to December 2023–December 2024 change in total private average hourly earnings by major industry sector
Industry sector
Percent share of total employment
Percent contribution to total average hourly earnings
Private education and health services
19.4
19.3
Professional and business services
16.9
26.7
Leisure and hospitality
12.5
4.9
Retail trade
11.6
4.2
Manufacturing
9.6
10.8
Financial activities
6.9
10.7
Construction
6.1
8.7
Transportation and warehousing
4.9
3.2
Wholesale trade
4.6
2.9
Other services
4.4
3.9
Information
2.2
3.5
Mining and logging
0.5
0.4
Utilities
0.4
0.9
Note: Data are seasonally adjusted.
In contrast, both retail trade and leisure and hospitality accounted for private-sector earnings growth that was well below their respective employment shares. Manufacturing, with 9.6 percent of private-sector employment in December 2023, contributed 10.8 percent of the earnings gain from December 2023 to December 2024.
United States Department of Labor
