Just behind Montana, Florida is the second best state working to raise wages, according to the Bureau of Labor Statistics (BLS).
Florida recorded a 19.9% increase in wages between 2020 and 2023, marking the second-largest increase in wages (over the inflation). During that period, wage increases in Florida have averaged from $18.07 in 2020 to $21.67 in 2023, 66 cents per hour better than the overall increase in the US.
Essentially, Floridians were 13 cents better per hour in 2023 than in 2020. This is because the median hourly wage in 2020 was $21.50 for $2023.
The BLS figures also showed which areas of the state had the best performance.
Village was the best performance area in Florida between 2020 and 2023, with an average average of 20.6% up from $15.94 to $19.22. Miami is America’s most performant metropolitan area, with median hourly wages increasing by 20.2%, up from $18.60 in 2020 to $22.36 in 2023.
<
“On paper, Americans are better now than the start of the pandemic. But for many Americans, that doesn’t feel like this. Inflation outweighed wage increases in all four states between 2020 and 2023.
One reason Florida worked well in this time frame is that states were mostly open, while others closed their economy due to Covid-19.
Another factor in wage increases was due to massive amounts of inflation, along with other factors, such as rising prices in the supply shortage and raising prices to make money from rapid price increases, as well as measures adopted to mitigate the worst economic impact of the pandemic, according to Asana.
In 2023, in metropolitan areas with total employment of over 500,000, Miami, Florida performed the highest top inflation, rising 23 cents per hour, while Washington, DC, performed its worst inflation than in 2020 with a cut of $3.31 per hour.
