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The cities where sky-high wage growth is outpacing inflation - Silicon Valley Business Journal

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These are the cities where sky-high wage growth is outpacing record inflation.

Inflation continues to outstrip employee pay gains nationally — but there are some places around the U.S. where workers' pay gains are outpacing rising expenses.according to data from payroll and benefits platform Gusto

Overall, wages nationally stood at an average of $32.92 per hour, according to Gusto. That tracks closely with the $32.

“Amid record-high inflation and a job market in which workers still hold the power, employers are feeling the pressure to pay a premium for labor in all markets — not just large coastal cities,” said Gusto Economist Luke Pardue. “While workers in some cities, largely in the South, have seen pay outpace inflation, most have not.

Another month of high inflation, and the potential for continued wage hikes during a period of near-record unemployment, comes as small-business owners are struggling to compete on salaries with their bigger counterparts.in the United States, Canada and the United Kingdom, found 66% had given larger than usual pay increases over the last 12 months. About 21% of U.S. small businesses described the raises as “significantly larger.

 

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