Square Payroll Index

The Square Payroll Index uses data from Square's labor management and payroll processing solution to track wage growth in the retail and restaurant industries. The data below is updated monthly with the latest information. Explore data on worker pay and average hourly earnings across the U.S. using the tools below and follow the Square quarterly analysis of these charts.
Feb 02, 2024 — 2 min read
Square Payroll Index
This article is for educational purposes and does not constitute legal, financial, or tax advice. For specific advice applicable to your business, please contact a professional.

The Square Payroll Index measures the wages for service workers in the retail and food and beverage sectors in over 20 metro areas. The data below is updated monthly with the latest information. Explore data on worker pay and average hourly earnings across the U.S using the wage tools below and follow the Square quarterly analysis of these charts. You can read more on the full methodology here.

 

Worker pay can vary by industry. The Square Payroll data above reflects hourly worker pay in retail and food services. In the chart above, base wage accounts for the base amount of money those retail and restaurant workers earn while average hourly earnings take into account regular wages, overtime pay, and tips over the hours worked in that given pay period. Average hourly earnings is the sum of these earnings divided by the sum of hours an employee worked in a given pay period.

Tracking growth through the Square Payroll Index does not mean that growth will be linear. As wages grow overall there may be periods where this growth goes up and down based on a range of variables, like labor supply and demand and more. 

 

 

Square Payroll Index Terms

Here are a few terms to consider as you explore the data within the Square Payroll Index tools.

 

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