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Inflation (and US) outpace NYC wage growth

Started by somewhereelse
almost 16 years ago
Posts: 7435
Member since: Oct 2009
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Following up on last week's conversation about NY holiding up better than rest of country... we still seem to be lagging. 1. Inflation outpaces NYC wage growth - Average weekly wages in the city up a modest 1.1% in July from year-ago period. That's smaller than both the 1.5% annual rise in consumer prices and the 2.9% increase in wages seen across the U.S. :: http://www.crainsnewyork.com/article/20100902/FREE/100909958 The article also notes that we are picking up hiring faster than other places, but its low-wage jobs.
Response by Sunday
almost 16 years ago
Posts: 1607
Member since: Sep 2009

I heard that base salary for the big bank increased significantly in 2010 in lieu of smaller bonuses. If that's true and the study didn't account for that, then the 1.1% increase in July y-o-y is pretty bad considering the lower bonus to come.

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Response by somewhereelse
almost 16 years ago
Posts: 7435
Member since: Oct 2009

good point, I did not think of that.

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