
12.6.23 – KARK-LITTLE ROCK, Ark.
Arkansas payroll average numbers are climbing, but they are trending below the national average, according to one study.
The study by the ADP Research Institute used payroll data to determine trends and outcomes. According to the November figures, Arkansas saw a 4.4% change in pay rate from November 2022, with a median salary for workers in the state of $46,800.
The study’s authors said the data was based on people who stayed at their jobs for at least the past 12 months.
Nationally, the year-over-year median annual pay changed 5.6%. While this was higher than the Arkansas rate, it was the slowest wage growth for people who had been at their job for at least 12 months since September 2021.
People who changed jobs, according to national statistics, saw their annual pay change by 8.1%. This is a drop from June to July of 2022 when workers saw a pay increase of over 16% after a job change.
“Restaurants and hotels were the biggest job creators during the post-pandemic recovery,” Nela Richardson, ADP chief economist said. “But that boost is behind us, and the return to trend in leisure and hospitality suggests the economy as a whole will see more moderate hiring and wage growth in 2024.”