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As salary growth slows, here’s how wages are faring in Baltimore

October 19, 2022
US Dollars

After a year of high raises and companies extending big offers to poach talent, wage growth is nearly flat in the Baltimore metro area. Wages in Greater Baltimore were down 0.3%, or $3.62, year-over-year in August to $1,120.91. That’s better than where the region stood in April when wages were down 1.5% year-over-year to $1,110.88. But those figures are even bleaker when factoring in inflation. Prices were up 10.2% in August in the Baltimore metro area compared to a year ago, according to the U.S. Bureau of Labor Statistics. Baltimore’s lack of wage growth continues to lag behind the nation as well. Across the country, average weekly earnings for employees in metro areas rose 3.1% in August compared to a year ago. That’s down from a 5.7% year-over-year increase in February.

Article Source: Baltimore Business Journal

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