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15 Cities with the Fastest-Growing Wages
Workers in these cities have received the biggest boost to their wages in recent years.
This story originally appeared on HireAHelper.
Slow wage growth and increasing wage inequality have characterized the U.S. labor market for the past several decades. The COVID-19 pandemic has disproportionately impacted lower-wage workers, only serving to exacerbate these problems. Now, a year into the pandemic, millions of workers remain unemployed and many businesses still face restrictions.
Over the past five years, average annual wages increased by 4.8%, after adjusting for inflation. However, much of the increase in average wages can be attributed to growing wages among the highest earners. According to an analysis of Current Population Survey data by the Economic Policy Institute (EPI), real median hourly wages grew by 15% from 1979 to 2019. In comparison, workers in the 95th percentile saw their wages grow by 63%, while workers in the 10th percen