Valentín Estévez and Catherine Massey will speak at the WorldatWork Total Rewards Conference on June 10

Valentín Estévez, Ph.D., Managing Director, and Catherine Massey, Ph.D., Senior Economist, will speak at the annual WorldatWork Total Rewards Conference & Exhibition on June 10 in Minneapolis. They will present the session Pay Equity: What's Behind a Statistically Significant Finding?

Pay equity will continue to be a top priority for companies in this new decade. Fierce competition for top talent and the ever-expanding complexity and reach of pay equity laws make regular pay equity audits a critical HR tool. In the session, Dr. Estévez and Dr. Massey will discuss the major steps in a pay equity audit: data collection and preparation, statistical analysis, interpreting and understanding the statistical results, and the formulation of action plans from the statistical results. They will also discuss how to leverage your pay equity audits to evaluate your pay practices under federal, state, and international regulations.

To learn more about the event and to register

Welch Consulting Employment Index Pulls Back in February

The Welch Consulting Employment Index fell 0.1 points to 103.3 in February. This modest retreat leaves it near the new high set in January.

The Welch Index measures full-time equivalent employment after adjustment for population growth and the aging of the workforce. An Index value of 100.0 indicates that adjusted full-time equivalent employment is the same as its level in the base year of 2004.

Over the past 12 months the Index has risen from 102.5 to 103.3. The increase in the Index over the past year means that full-time equivalent employment has been growing at a faster rate than the adult population.  Full-time equivalent employment increased 0.8% faster than the adult population over the past year (after making adjustments for the aging of the U.S. adult population). Looking back at the most recent 6 months, the Index rose from 102.7 in August to 103.3 currently. Nearly all of the growth in the past year has occurred in the past six months. The rate of change over the past year is in line with the trend for the last 3 years of an increase of about 1.1% per year.

In January the index for women rose, while the index for men fell. The index for women hit a record high of 107.1, up from 107.0. The index for women is up from 105.5 a year ago. The index for men fell back to the December level of 100.3, down from January’s record high of 100.5. Over the last three years the index for women is up 4.7 points while the index for men is up 2.1 points.

Technical Note: Full-time equivalent employment equals full-time employment plus one half of part-time employment from the BLS household survey (the Current Population Survey). The data reported for a given month is generally from the calendar week that contains the 12th day of the month. The Welch index adjusts for the changing age distribution of the population by fixing the age distribution of adults to the distribution in the base year of 2004. Seasonal effects for the share of workers employed in part-time jobs are removed in a regression framework using monthly indicator variables.