Tue September 25, 2012
Louisville's Job, Wage Growth Lag Behind Peers
Louisville still ranks lower than its peers in offering competitive wages, despite excelling in the number of degrees for young professionals.
On Tuesday, the Greater Louisville Project released its new Competitive City Report, which compares 15 cities in education and economic factors.
Louisville leads the pack in four-year college attainment rates for 25 to 34 year-olds the past decade, but it’s second to last for wage growth the past 20 years at 18 percent. Raleigh, North Carolina ranked the highest at 49 percent.
Places like Raleigh have been able to grow in high paying jobs including the research sector, said Christen Boone director of the Greater Louisville Project.
“If you have scientific, technical and those innovative kinds of jobs, those are going to pay more than you will for a community that is manufacturing," said Boone.
The data also shows that Jefferson County’s population is growing at a much slower rate than neighboring counties. Boone said to attract more professionals to Louisville, the city could try focusing on innovative solutions that pay better.
This includes scientific and innovative fields like what the University of Louisville’s downtown Life Sciences campus has begun to promote, said Boone.