By July 12, 2017 Read More →

Denver wages: Here’s how the Mile High City ranks for growth

Denver wage growth is rising at the second-fastest clip in the nation, according to a new index from PayScale.

PayScale Inc., a Seattle-based compensation data and software provider, tracks total cash compensation for full-time, private industry employees in the U.S., adjusted for inflation and tracked since 2006, to compile its index.

Denver’s year-over-year wages grew at 3.5 percent in the first quarter of 2017, up 0.2 percent since Q1 2017 and 12.8 percent since 2006. That’s higher than the national average of 2.4 percent.

Denver, the index notes, ranks as the 19th most-populous city in the U.S. and the fastest-growing major city in the U.S., with a population of 682,545 as of 2015.

“Because of its central U.S. location, Denver has become a location for storage and distribution of goods and services to the Mountain States, Southwest states, as well as all western states,” the index says. “In 2015, Denver ranked No. 1 on Forbes’ list, “Best Places for Business and Careers.”

San Diego and Austin wages also grew at 3.5 percent, resulting in a three-way tie among those cities. Wages grew fastest in San Francisco, at 3.8 percent.

Detroit saw a negative wage growth of 0.7 percent, as did Kansas City, Missouri, down 0.3 percent, and Minneapolis, down 0.1 percent.

Nationally, the industries that saw the highest year-over-year wage growth were retail and customer service; health care and social assistance; and construction, respectively. The industry with the lowest year-over-year wage growth was engineering and science, the index found.

Two job groups saw their wages suffer in the past quarter: legal jobs were down 0.6 percent, and accounting and finance jobs were down 0.2 percent.

>> Read full article.

Posted in: Denver

Comments are closed.