Where are the workers who’ve seen the most growth in their paychecks in the past year?
According to Payscale’s wage index, they live in San Francisco. The tech city has experienced the highest wage growth of any city in the U.S. over the past 12 months, with paychecks growing at a rate of 3.7%.
While Silicon Valley is an important contributor to San Francisco’s economy, tourism is its primary moneymaker. In fact, Pier 39 near the Fisherman’s Wharf is one of the most popular tourism spots to visit in the nation.
Other cities with the most wage growth include Baltimore, with its world-class hospital systems, and Seattle, a city also known for its tourist attractions.
Below are the cities Payscale tracks ranked by the rate of wage growth in the past year. The index tracks total cash compensation for full-time, private sector employees.
Southern cities Atlanta and Dallas were tied for fourth place for the most wage growth in the country. Atlanta is home to many renowned research institutions, including Georgia Tech and Emory, and Fortune 500 companies, including The Coca-Cola Company, UPS, and The Home Depot. Dallas is sometimes called the “Silicon Prairie” as a result of the many technology startups launched in the city in recent years.
On the other end of Payscale’s index, and perhaps surprisingly, urban meccas Los Angeles, New York, Miami, and Boston were among cities where wage growth is increasing at a slower rate than the national average of 1.7%.
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