Five of the top 20 cities experienced a decline in wage rates. Not surprising, New York, Boston and San Francisco, all financial centers were in the top 5 in terms of climbing wages.
20. Miami, where wages fell 2.1 percent
19. Phoenix, down 0.6 percent.
18. Riverside, Calif., down 0.4 percent.
17. Washington, D.C., down 0.2 percent.
15 (tie). Tampa, down 0.1 percent.
15 (tie). Baltimore, down 0.1 percent.
14. San Diego, up 0.1 percent.
13. Dallas, up 0.3 percent.
10 (tie). Los Angeles, up 0.5 percent.
10 (tie). Chicago, up 0.5 percent
10 (tie). Atlanta, up 0.5 percent.
9. St. Louis, up 0.7 percent.
7 (tie). Philadelphia, up 0.9 percent.
7 (tie). Detroit, up 0.9 percent
6. Houston, up 1.1 percent.
5. New York, up 1.2 percent
4. Boston, up 1.3 percent
3. San Francisco, up 1.5 percent.
2. Seattle, up 1.6 percent.
1. Minneapolis, up 1.9 percent.
(Data from PayScale via the San Francisco Chronicle.)
Only the top 5 beat government reported inflation numbers. If the Fed hits their 2% "target" than everyone is worse-off. Yet, the idea of inflation is never challenged.
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