Miami Ranks #1 For Growth In Wages & Salaries Over The Past year

Wages and salaries grew faster in the Miami area than anywhere else in the U.S. last year, according to newly released government data.

The U.S. Bureau of Labor Statistics released its December 2021 Employment Cost Index on Friday.

According to the newly released data, wages and salaries in the Miami-Fort Lauderdale-Port St. Lucie, FL CSA increased by 6 percent over the last 12 months.

The wage growth in the Miami area put the region at the top the Employment Cost Index for wages and salaries for the year.

For total compensation, which also includes employee benefits, Miami ranked second with a 5.2 percent increase for the year, behind only the Seattle area.

 

(photo: Phillip Pessar)

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Anonymous
3 months ago

From $10/hr you can now make $10/hr plus two croquetas!

Anonymous
3 months ago

Ham ?

Anonymous
3 months ago

Amtrak is cheap for you to leave

Anonymous
3 months ago

And rental and housing price inflation

Anonymous
3 months ago

Agree, the increase in rents and real estate greatly outpace the increase in wages. Therefore it’s a mute point!

Anonymous
3 months ago

moot*

Anonymous
3 months ago

Lol

DWNTWNR
3 months ago

When you have an influx of people moving here to work remotely and they get to keep their CA and NY salaries and wages, that will skew the data.

Anonymous
3 months ago

All those remote work people are not included in Miami statics. They are counted in payroll numbers reported by their CA and NY offices. It’s only those people whose salaries are paid by businesses registered in Miami that are accounted for here. Some people who were able to officially transfer within their companies to Miami office (most people would be doing so with reduction to their salaries if their NY or CA employers would even allow to that – different budgets for different locations).

DWNTWNR
3 months ago

Good point. Since this reflects calendar year 2021, I’m going to attribute some of this to the UKG merger, since the geography is the CSA and goes all the way to St. Lucie County. Not sure if any of the smaller hedge funds that have opened offices here would be included due to payroll, but if so, that would be part of it too. Also, the data isn’t seasonally adjusted, so that’s an issue.

s.k
3 months ago

Do you guys think these transplants would go back to the NE or CA eventually once they are asked to return to the office or once they see Miami is not NY/LA? or do we think they’ll stay here even with a pay cut?

DWNTWNR
3 months ago

A lot of tech companies have adopted permanent WFH policies, so I’m not sure how many will be forced to return to an office full time. As for your other question. I think once they see the laws the state are passing right now (banning abortion, censoring public schools, legalizing medical discrimination against LGBTQ, etc.) they might move back. Miami doesn’t have the amenities of NYC or CA, but some get used to it. Politics will be the undoing.

Anonymous
3 months ago

And f–k the locals.

Anonymous
3 months ago

Hoes ain’t cheap and the price keeps goin up

Anonymous
3 months ago

I told your sister that she was too old to be asking for prices she ain’t worthy of anymore.

Anonymous
3 months ago

5-6% increase wages and salaries = nice up until you put it next to the 35-40% increase in rent (and lets not even talk about inflation. it’s a nightmare)

Paris Hilton
3 months ago

Stop being poor.

Anonymous
3 months ago

That’s hot

Anonymous
3 months ago

I guess you have never heard of people who were once rich losing every everything?

Anonymous
3 months ago

I never heard about people losing any anything

Anonymous
3 months ago

^ this is your mind on dope…

Anonymous
3 months ago

Sorry for your crypto bags

Anonymous
3 months ago

Look, this is an article on “Wages and salaries,” so what does that kiddy play thing called a Ferris Wheel has to with this report?

Anonymous
3 months ago

Amusement Ride Operator is a big occupation here in Florida.

Anonymous
3 months ago

lol…

Anonymous
3 months ago

Classic.

Does it pay well ? Asking for a friend.

Anonymous
3 months ago

It pays like 6 figures man…plus all the free cotton candy you can lick

Anonymous
3 months ago

Wages go up and so does everything else…round and round we go

Anonymous
3 months ago

Life is like a ferris wheel. Sometimes you are on top and other times you are on the bottom. Play is to get stuck while your on top

Anonymous
3 months ago

Let me guess, Seattle only outperformed South Florida on employee benefits because maternal leave for men.

Anonymous
3 months ago

You’d be surprised I can personally attest that banks at least aver very generous is this area

Anonymous
3 months ago

yeah only 5% meanwhile rents increased 39% so let’s celebrate under the underpass and buy tents to join the new homeless community being built under the signature bridge in downtown

Anonymous
3 months ago

It is easy to move up from the bottom.

Anonymous
3 months ago

I wouldn’t call it easy…doable, yes

Anonymous
3 months ago

It takes a lot of hard work…something many people are against lately

Anonymous
3 months ago

3 years ago my daughter worked for an out of state-based medical Marijuana company that actually lowered starting salaries when they found out what people would work for in the 305. Maybe things are finally getting better.

Anonymous
3 months ago

Potheads don’t understand the value of money.

Anonymous
3 months ago

Seems to check out. Even Bianca on the 79th street corner raised her prices!

Anonymous
3 months ago

I guess is cheaper to live in Chop formerly Chaz up in Seattle — save more money living there among the ur!n€ smell

Anonymous
3 months ago

Actually it cost more to live in Seattle. One of reasons why is because you have to buy chicken from the stores in Seattle instead of just grabbing a chicken walking down the street like you can in Miami.

Anonymous
3 months ago

lol…

Anonymous
3 months ago

Yeah, salaries grew 150% for the top 1% and increased 1% for everyone else, that’s who you get your amazing 6% right? Meanwhile, inflation is 6% to… a month.

Anonymous
3 months ago

and we get 1% increase. this is not growing wages. the new tech jobs pay more.

Anonymous
3 months ago

how is it that we have a larger population than NYC but make 50% less income for the same trades? just saying DeSantis might talk a lot of HYPE but he isn’t for the working class he is just looking for re-election. i want that minimum wage to be hiked up to 15 now not 5 years from now. VOTE ON THAT not on mask mandates and all the other useless crap.

Anonymous
3 months ago

Nothing will stop the Miami area’s record growth except what you suggest.

Anonymous
3 months ago

The state of Florida has a population that’s a little more that New York state. NYC’s population is way more than the city of Miami or even MiamiDade county.

Anonymous
3 months ago

“VOTE ON THAT not on mask mandates and all the other useless crap”

That’s right folks, you can still make $15hr when you’re dead.

lol…