The healthcare industry has undergone significant shifts in recent years, with the demand for travel nurses reaching new heights during the COVID-19 pandemic. Travel nurses have played a critical role in bridging staffing gaps across the United States. In this blog, we will delve into the latest data from a national healthcare hiring marketplace, to understand the average weekly travel nurse pay trends in July 2023 and how they compare to previous years.
A Decrease, but Still Above Pre-COVID Levels
According to the report, the average weekly travel nurse pay in July 2023 was $2,447.83. While this represents an 8.5 percent decrease compared to July 2022, when the average pay was $2,677.19, it’s important to note that travel nurse pay is still 29.5 percent higher than pre-COVID-19 levels. This indicates that the demand for travel nurses remains strong, even as the healthcare landscape evolves.
Looking at month-over-month changes, the average weekly travel nurse pay decreased by 0.73 percent, from $2,466.27 in June to $2,447.83 in July. While this decrease is relatively modest, it reflects the dynamic nature of the healthcare industry and the ongoing adjustments in response to changing demand.
High Demand for Travel Nurses
As of August 2, 2023, there were 159,488 active registered nurse travel jobs on the hiring platform nationwide within the last seven days. This represents a notable increase from the 148,110 active jobs reported in early July. The surge in available positions underscores the continued need for travel nurses in various healthcare settings across the country.
Specialties Driving Pay Increases
In the healthcare industry, not all specialties experience the pay changes in the same way. Here are five specialties that saw significant increases in average weekly travel nurse pay in July compared to June:
1)Director of Nursing
Average weekly pay in July: $2,777.54
Month-over-month increase- 7.46 percent
2)Pediatrics OR (Operating Room)
Average weekly pay in July: $3,063.38
Month-over-month increase- 5.79 percent
3)Cardiac Progressive Care Unit
Average weekly pay in July: $3,160.22
Month-over-month increase- 4.58 percent
Average weekly pay in July: $2,867.85
Month-over-month increase-3.17 percent
5)Pediatrics ER (Emergency Room)
Average weekly pay in July: $2,949.87
Month-over-month increase- 3.04 percent
These specialties have seen notable pay increases, reflecting the unique demands and skills required in these roles.
Specialties Facing Travel Nurse Pay Decreases
Conversely, some specialties experienced decreases in average weekly travel nurse pay in July compared to June:
Average weekly pay in July: $2,262.02
Month-over-month decrease- 4.10 percent
Average weekly pay in July: $2,577.72
Month-over-month decrease- 3.96 percent
Average weekly pay in July: $2,904.47
Month-over-month decrease- 3.79 percent
4)Pediatric Med Surg
Average weekly pay in July: $2,493.53
Month-over-month decrease- 3.77 percent
5)Trauma ER (Emergency Room)
Average weekly pay in July: $2,062.41
Month-over-month decrease- 3.69 percent
These specialties may be experiencing temporary shifts in demand, leading to fluctuations in pay rates.
The travel nursing industry continues to evolve, with average weekly pay rates adjusting in response to changing demand and the ongoing impact of the COVID-19 pandemic. While there has been a decrease in pay compared to the previous year, it remains significantly higher than pre-pandemic levels. Travel nurses play a vital role in ensuring healthcare facilities can provide quality care to their patients, and the fluctuations in pay rates highlight the dynamic nature of this profession. As the healthcare landscape continues to evolve, travel nurses will remain a crucial component of the workforce, providing flexibility and expertise where needed most.
SkillGigs, an AI-based talent marketplace, offers the latest jobs to travel nurses. Nurses can search for jobs based on their experience level and city preferences, among other things. Also, most of the jobs on our platform offer competitive pay and candidate can bid on the ones that offer them most money. Click on this link to find all the latest contractual and permanent job opportunities for travel nurses.