Inflation Outpaces NYC Wage Growth
(Crain’s) — New York City is adding jobs at a brisker pace than the nation, but data released Thursday by the U.S. Bureau of Labor Statistics shows that wages here are not increasing as much as they are in the rest of the country.
The average weekly wage in the city jumped by 1.1%, or $11.20, between July 2009 and July 2010, according to the new data. That’s less than the 2.4% increase seen in all of New York state, and 2.9% in the United States as a whole. The modest increase here in the city, to $1,055.95 a week, was not even enough to match the 1.5% increase in the consumer price index during the same period.