Retail Trade Employment and Wages in 2023

In 2023, the Retail Trade industry employed over 15.6 million people in the United States, reflecting an increase of 0.5% from 2022. The annual mean wage in 2023 was $42,720, and the median wage was $35,330. Compared to the national average, the wages in this industry group were lower by 34.7%.

Industry Sub-Groups

Among the industry sub-groups, General Merchandise Retailers held the largest number of jobs within the Retail Trade industry, employing over 3.2 million people in 2023. The annual mean wage in this sub-group was $38,730, with a median wage of $34,750. There was an increase in wage variance to the national average compared to 2022, with the variance shifting from -41.4% to -40.8%, indicating industry wages outpaced national wage trends.

Food and Beverage Retailers (4451 and 4452 only) accounted for a substantial employment share, with 3 million people employed in 2023. The annual mean wage for this sub-group was $37,040, and the median wage was $34,280. In terms of wage variance to the national average, there was a decrease compared to 2022, with the variance shifting from -43.4% to -43.4%.

The sub-group of Automobile Dealers also had considerable industry employment, with approximately 1.3 million people employed in 2023. The annual mean wage in this sub-group was $63,570 and the median wage was $45,590. The wage variance to the national average experienced a decrease compared to 2022, with the variance shifting from -2.1% to -2.9%.

Highest Employment Occupations

When we examine the top occupations in terms of employment within the Retail Trade industry, we find that General and Operations Managers had the highest annual mean wage in 2023, at $94,670, and a median wage of $74,830. The industry variance to the national average was -26.8%. Automotive Service Technicians and Mechanics had an annual mean wage of $52,530 and a median wage of $47,760. The industry variance to the national average was 1.1%. First-Line Supervisors of Retail Sales Workers had an annual mean wage of $51,520 and a median wage of $46,480. The industry variance to the national average was -1%.

Conversely, notable occupations with lower wages within the Retail Trade industry included Cashiers, with an annual mean wage of $30,700 and a median wage of $29,810. The industry variance to the national average was 0%. Food Preparation Workers had an annual mean wage of $34,010 and a median wage of $34,250. The industry variance to the national average was 3.2%. Laborers and Freight, Stock, and Material Movers, Hand had an annual mean wage of $35,100 and a median wage of $34,490. The industry variance to the national average was -11.7%.

Summary

The 2023 wage and employment data for the Retail Trade industry in the United States shows modest growth, with employment rising to 15.6 million, a 0.5% increase from 2022. The annual mean wage was $42,720, and the median wage was $35,330, which are 34.7% lower than the national averages. Among industry sub-groups, General Merchandise Retailers employed the most workers, with over 3.2 million people earning an average of $38,730 annually, slightly improving their wage variance relative to national trends. Food and Beverage Retailers, with 3 million employees, saw a slight decrease in wage competitiveness, while Automobile Dealers offered higher wages, with a mean of $63,570. Top-paying occupations like General and Operations Managers had an annual mean wage of $94,670, still trailing national averages by 26.8%. In contrast, lower-wage roles such as Cashiers and Food Preparation Workers showed minimal variance from national averages, reflecting the industry's broad range of wage outcomes. These trends underscore the ongoing challenges in the retail sector, where wage growth lags behind national averages, particularly in frontline positions, despite some improvement in specific sub-groups and occupations.

For more detailed industry insights, consider purchasing Aimiax’s 2023 Retail Trade Industry Report.