If your pay rise hasn’t quite felt like a pay rise, you’re not alone. Wages may be higher than they were in 2020, but for many workers, everyday costs have climbed just as fast – or faster – leaving their money going no further than it did four years ago.
But Florida continues to outpace the rest of the country in key economic factors like job growth and job investment.
The U.S. Bureau of Labor Statistics (BLS) provides an annual average wage data for each state. Their study reveals the U.S. states where wages have beaten inflation since 2020 – and where workers are falling behind
Their recent data looked at the nominal wage growth for each state and found between 2020-2024 Florida’s wage growth exceeded inflation as workers in the state saw real wage gains.
Florida wages rose 26% between 2020 and 2024 – leaving workers 4.7% better off after inflation, the highest real growth in the country.
Top 10 states where workers’ pay has outpaced inflation the most (2020-2024)
Flolrida ranked number 1. Workers in Florida saw wages increase 26% between 2020 and 2024 – comfortably outpacing the 21.2% inflation recorded during that time. That leaves them 4.7% ahead in real terms, with average annual pay rising from $50,020 to $62,990.
Idaho takes the second spot in the rankings.
Maine takes third place.
In 4th was Utah.
Workers in Colorado and Vermont both at number 5.
Georgia and Oregon were number 6.
Tennessee ranks seventh.
In South Dakota number 8.
South Carolina ranks ninth. Arizona rounds out the top ten.
Rhode Island was the worst state. Workers saw the steepest real wage decline in the country, with pay falling 6.2% in real terms despite 15% nominal growth.
