If you didn’t receive a raise, you’re not alone. Wages may be higher than they were in 2020, but for many workers, daily costs are rising just as much, if not more, and they have less money than they did four years ago.
However, Florida continues to outperform the rest of the nation in key economic factors such as job growth and job investment.
The U.S. Bureau of Labor Statistics (BLS) provides annual average wage data for each state. Their study reveals U.S. states where wages have outpaced inflation since 2020 and states where workers are falling behind
Their recent data looked at each state’s nominal wage growth and found that Florida’s wage growth outpaced inflation from 2020 to 2024, as Florida workers saw real wage increases.
Wages in Florida rose 26% between 2020 and 2024, making workers 4.7% better off after inflation, the highest real growth rate in the country.
Top 10 states with the highest worker wages above inflation (2020-2024)
Florida State was ranked No. 1. Wages for Florida workers increased by 26% between 2020 and 2024. This was comfortably above the 21.2% inflation rate recorded during that period. This gave them a 4.7% lead in real terms, with average annual income rising from $50,020 to $62,990.
Idaho State came in second in the rankings.
Main came in 3rd place.
Fourth place went to Utah.
Colorado and Vermont workers both rank fifth.
In sixth place were Georgia and Oregon.
Tennessee is 7th.
8th in South Dakota.
South Carolina is 9th. Arizona finished in the top 10.
Rhode Island was the worst state. Workers experienced the steepest decline in real wages in the country, with wages falling by 6.2% in real terms despite nominal growth of 15%.
