San Francisco nears top for pay raises
San Franciscowas one of the nations best cities for pay increases last quarter, Seattle-based PayScale reported Wednesday. Two other California cities also saw growth.
Nationwide, pay was up 0.5 percent in the second quarter from a year earlier, PayScale reported. But pay rose by much more in some metro areas, while falling in others.
Our results show the economy is on a steady, but very tepid recovery with wage growth rising at a slow rate, Katie Bardaro, PayScales lead economist, said in the report. We anticipate the trend of sluggish overall wage growth to continue in 2014 with a few industries such as science, biotech, and healthcare showing periodic gains that are more significant.
Adjusting for inflation, wages have dropped nearly 8 percent since 2006, she added. PayScale expects wages to rise 0.3 percent this quarter from the previous quarter and 0.8 percent year over year.
The information, media and telecommunications had the biggest pay jump, 1.4 percent from a year earlier, while arts, entertainment and recreation fell the most, down 1.1 percent.
Click through the gallery above to see how the nations 20 largest metropolitan areas fared.