Wages Are Soaring in US Cities With the Highest Inflation
Condo views in Miami.
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Paychecks are surging in some of the US cities with the highest rates of inflation, suggesting that a wage-price spiral is now firmly embedded in the economies of metro areas from Miami to Phoenix.
Nationwide, wages and salaries for non-government workers climbed 5.2% last quarter from a year earlier, according to Labor Department data published Friday. That marked a slight slowdown from the previous period. But in some cities, especially the ones where the cost of living has climbed most steeply, the increase was significantly bigger.