Job growth not keeping up with inflation
Wage growth is not keeping up with inflation in Minnesota. DEED Commissioner Steve Grove:
“Over the year hourly earnings are up 5.6% but inflation is up 8.5% So wage growth continues to not keep up with inflation. There are certain occupations for which wage growth has been stronger — nursing or residential care is up 13% over the year for example.”
Average hourly wages for all private sector workers sit at $34.43 in July. Nationally private sector wages come in at $32.11 an hour, up 5.3% over the year.
