NewsLocal NewsGrand Rapids


Study: Grand Rapids ranks last for wage growth among large US metros

grand rapids.jpg
Posted at 12:00 PM, Jul 14, 2022
and last updated 2022-07-14 13:05:27-04

GRAND RAPIDS, Mich. — New research shows Grand Rapids ranked last in terms of wage growth among the nation’s largest metropolitan areas.

The study examines the economic impacts of the COVID-19 pandemic and their effect on wage increases, Smartest Dollar explains.

The consumer advocate group says weekly pay in the U.S. shot up to $1,339 on average in 2020’s fourth quarter, increasing again to $1,418 a year later. However, we’re told those wages dropped by less than 1% when adjusted for inflation.

Smartest Dollar tells us only 13 states witnessed actual wage growth after inflation adjustments.

Among large metro U.S. cities, Grand Rapids ranks #53 on the study’s list of inflation-adjusted wage increases with a 5.5% decrease.

The study lists the following as the large metro areas with the highest wage increases after inflation:

  1. Miami/Fort Lauderdale/Pompano Beach, Florida (+5%)
  2. Raleigh/Cary, North Carolina (+2.7%)
  3. Tampa/St. Petersburg/Clearwater, Florida (+2.2%)
  4. San Jose/Sunnyvale/Santa Clara, California (+2%)
  5. Denver/Aurora/Lakewood, Colorado (+1.6%)

Read a more detailed report on this study here.

Follow FOX 17: Facebook - Twitter - Instagram - YouTube