Seattle Area Wages Grow 4.8% in 2012 for Nation's Strongest Increase
Seattle topped the nation in wage growth, tying Houston, but beating Boston, San Francisco, Los Angeles and New York. Wages in Seattle in the fourth quarter of 2012 were up 4.8 percent from the same period in 2011, compared to just 1.6 percent in Washington D.C., another area where the economy has been relatively strong. Wage growth was 3.9 percent in San Francisco and 3.3 percent in Los Angeles.
Here's the press release from Payscale:
Seattle – January 9, 2013 - PayScale, Inc. today announced The PayScale Index for Q4 2012, which tracks quarterly trends in compensation.
Even with the uncertainty brought about by the federal government’s budgetary issues, Q4 2012 proved to be yet another strong quarter for wage growth. Wages for most cities, industries, job categories and company sizes tracked by The PayScale Index are the highest they’ve been since 2006 and every measure of The PayScale Index experienced an annual growth in wages.
“While the headlines oftentimes go to the large-sized companies, The PayScale Index for the second consecutive quarter showed wage growth for small companies outpacing medium and large companies,” said Katie Bardaro, lead economist, PayScale. “Wages in Q4 2012 grew by 2.2 percent for small companies compared to only 1 percent for medium companies and 0.9 percent for large companies. This strong quarterly growth pushed small companies to almost 5 percent year-over-year wage growth, compared to only 2.7 percent for medium companies and 3.3 percent for large companies.”
|MetroRank By Pop(2009)||Metropolitan Area||PayScale Index 2012||Change
|6||Houston-Baytown-Sugar Land, TX||113.1||4.8%|
|14||Riverside-San Bernardino-Ontario, CA||105.0||4.5%|
|4||Dallas-Fort Worth-Arlington, TX||109.1||4.3%|
|13||San Francisco-Oakland-Fremont, CA||108.3||3.9%|
|16||Minneapolis-St. Paul-Bloomington, MN-WI||108.3||3.7%|
|2||Los Angeles-Long Beach-Santa Ana, CA||107.9||3.3%|
|19||Tampa-St. Petersburg-Clearwater, FL||107.1||3.2%|