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Phoenix Far ahead in Wage Growth

Source: AZBigMedia   According to the latest Paychex | IHS Markit Small Business Employment Watch, wage growth accelerated in April. Phoenix remains far ahead of other metros in wage growth with 4.80 percent annual hourly earnings growth, almost a full percentage point above the next highest metro (San Diego at 3.81 percent).

“The low unemployment rate is contributing to steady increases in wage growth,” said Martin Mucci, Paychex president and CEO. “With tightening labor conditions and wages continuing to show positive momentum, business owners and HR managers will need to focus on recruitment and benefit strategies to attract and retain qualified talent.”

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