Travel pay for registered nurses (RNs) has been on a marked decline for at least a year, but recently released wage data from Vivian Health suggests that the pace of that decline may finally be slowing. This could portend a period of wage stabilization.  A comparison of the longer-term wage data with the recently released June wage figures for all 50 states helps paint a picture of the emerging trend.

When comparing June 2023 travel nurse wages with those of June 2022, 49 out of the 50 U.S. states have experienced a year-over-year decline, with wages falling an average of 8.56% over that timeframe.  The standalone exception to the rule of falling wages is Alaska, a state whose unique oil royalty payments to residents, which broke all records in the past year, have helped turbocharge the economy there and may have the effect of increasing healthcare consumption in the state nicknamed The Last Frontier.

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The Pace of Wage Declines is Slowing

However, when we narrow our focus from the longer term to the near term, there are indications that the pace of travel nurse wage decreases is finally slowing.  Consider that the month-over-month change in nationwide average travel nurse pay was a somewhat modest -0.89% in June, compared with -1.58% in May, -2.33% in April, and -3.06% in March.  The shrinking magnitude of these monthly wage decreases raises the question, will this trend continue and lead to an actual stabilization of average wages in the coming months or potentially even foretell another period of wage increases?

While the year-over-year wages for every state but Alaska have trended down, the monthly data features an emerging bifurcation of rising-wage states and falling-wage states.  In our May wage report, only seven states recorded even a 0.01% increase in travel nurse wages, but in June, 14 states did.

The standout state for June’s wage increases is Rhode Island, where monthly wages jumped 9.41% compared to where they stood in May.  Rhode Island's average travel nurse wages had hovered well below the national average for each of the prior 12 months, but the June pay spike to $2,586 now places the Ocean State above the national average, which in June stands at $2,466 per week.

As in recent months, a larger number of states are still experiencing significant wage decreases of 1% or more, although unlike May, June saw no states experience a double-digit decrease.

Despite the overall downtrend for travel RN wages in 2023, they still remain above the average wages paid in January 2020, just before the Covid pandemic disrupted the healthcare industry and sparked a scramble to fill staff shortages.  At that time, the average weekly travel nurse wage, inflation-adjusted for today’s dollars, was $2,230, compared to $2,466 as of this June.  That means travel nurses in the U.S. are still experiencing an average 10.6% wage premium in the post-pandemic environment.  Many hospitals and health systems still face a significant need to plug gaps in their staffing, which has helped maintain higher wage levels.  

More States Experiencing Relatively Stable Wages

As we watch the emerging trend of travel nurse wages leveling off, we may see more states in future months join the category of those experiencing relatively minor wage fluctuations within a range of -1% to 1%.  Nineteen states were in that category for June compared to just twelve in May.

Request a Demo

As pay rates stabilize, nurses may feel split as to whether to seek additional travel assignments or settle into a staff position. In either case, Vivian can help with your staffing efforts.  With over 1 million active candidates on our platform, Vivian can reduce time-to-hire by 50% and cut hiring costs by 80%. Schedule a free consultation to see how we can assist with your current staffing needs.

All average salary data based on travel RN jobs posted on Vivian Health during the complete month of June compared to the jobs posted during the complete month of May 2023.