Nationwide, wages aren’t growing fast enough, and experts say this is the main reason most Americans don’t feel the benefits of the recovery yet. But some cities are bucking the trend.
According to CNN Money, workers in Columbus, Ohio, enjoyed the best wage gains in June year-over-year at 6.2 percent. Other cities that help complete the top five best wage gains are:
- San Francisco, 6.0 percent
- Virginia Beach, Va., 5.9 percent
- Louisville, Ky., 5.9 percent
- Rochester, N.Y., 4.9 percent
These numbers are well above the healthy wage growth set by the Federal Reserve, which is 3.5 percent.
A common thread found in all these cities are unemployment rates below the national average, or the unemployment rate is moving down at a quick pace.
