The US cities where wages are growing fastest (and where they’re shrinking)

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Virginia Beach is among the U.S. cities where wages are growing fastest, according to a recent analysis. (Getty Images)

(NEXSTAR) — As the cost of living — including gas, food, rent and seemingly just about everything else — has gone up, there is a sliver of hope for residents of certain U.S. cities where wages are also going up.

MoneyGeek analyzed data from the Bureau of Labor Statistics in the country’s 75 largest metro areas to determine where wages are going up and where they’re going down.

According to data shared with Nexstar, wages grew fastest over the past year in cities across the South. Florida has three cities among the top 10.

Wages grew slower in coastal cities where pay tends to be highest. San Francisco, Washington, D.C. and San Diego all saw growth between 2% and 5% in 2022.

The 20 cities with the fastest-growing hourly wages, according to MoneyGeek’s analysis, are:

Metro areaAverage hourly wageChange year-over-year
North Port, Florida$31.2216.80%
Virginia Beach, Virginia$28.3113.51%
Austin, Texas$33.4110.12%
Louisville/Jefferson County, Kentucky$27.9910.07%
Detroit, Michigan$33.1010.00%
Jacksonville, Florida$32.969.98%
Orlando, Florida$30.029.92%
Atlanta, Georgia$32.889.53%
Providence, Rhode Island$31.398.80%
Nashville, Tennessee$31.788.32%
Las Vegas, Nevada$27.748.15%
Cleveland, Ohio$31.248.06%
Fresno, California$28.277.86%
Miami, Florida$29.817.85%
Boise, Idaho$28.337.76%
Albuquerque, New Mexico$26.487.69%
Memphis, Tennessee$27.757.60%
Richmond, Virginia$31.257.46%
Denver, Colorado$36.907.45%
Salt Lake City, Utah$33.147.25%

The bad news is that even as wages rise across some U.S. cities, most aren’t rising fast enough to keep up with inflation. Year-over-year inflation was at 9.1% in June, and only a handful of cities saw salaries grow equal to or faster than that.

Despite rising costs, five cities actually saw hourly wages drop in 2022.

Metro areaAverage hourly wageChange year-over-year
Bakersfield, California$29.72-0.27%
San Jose, California$49.45-0.52%
Indianapolis, Indiana$29.90-0.76%
Dayton, Ohio$29.18-1.95%
McAllen, Texas$19.35-2.67%

The national average wage went up 5.11% to $32.08 per hour.

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