15 States Where Wages Grow Fastest
Salaries in the U.S. have been trending upward over the past decade. In 2010, the average annual salary nationwide was $43,265; it increased 35% to $58,494 in 2020, according to a study released Monday by Approve.com. This means that wage growth in the U.S. has outstripped inflation rates over that period. Wages would have risen to only $51,351 per year if they had been in line with inflation. As a result, Americans could have more disposable income on average to save or to procure goods and services, the study said. Although wages have risen across the entire country, wages and the rate at which they are growing are higher in some states than in others. Approve.com analyzed the trends in wages in all 50 U.S. states, and found a 36-percentage-point difference in the growth between the state at the top of the list and the one at the bottom. See the gallery for the 15 states where wages increased the most between 2010 and 2020. — Related on ThinkAdvisor:
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