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Miami, FL - Miami led all major U.S. metro areas in wage growth between 2020 and 2023, outpacing inflation and giving workers a rare financial edge in an era of rising costs.
According to research conducted by work management experts at Asana, Miami experienced a 20.2% increase in hourly wages during this period, surpassing the national inflation rate of 19.1%.
This growth positioned Miami as one of only three large metro areas to exceed inflation rates.
The analysis utilized data from the Bureau of Labor Statistics (BLS) focusing on metropolitan regions with over 500,000 jobs.
In 2020, Miami's median hourly wage was $18.60, which rose to $22.36 by 2023.
This $3.76 increase per hour is notably higher than the national average wage increase of $2.94 during the same timeframe.
When adjusting for inflation, Miami workers effectively earned an additional 23 cents per hour in 2023, translating to $1.12 more per hour than the national average.
Following Miami, California's Inland Empire—which includes the Riverside-San Bernardino-Ontario area—saw a 19.7% wage increase, with hourly wages rising from $19.05 in 2020 to $22.81 in 2023.
This increment is 82 cents higher per hour than the overall U.S. wage growth.
Tampa, Florida, ranked third among large metro areas, with median hourly wages growing by 19.2%, from $18.72 to $22.32.
This increase is 64 cents above the national average.
Conversely, Jacksonville, Florida, experienced an 18.7% wage increase, which fell short of the 19.1% inflation rate during the same period.
In contrast, Washington, D.C., reported the weakest wage growth among major metro areas, with only a 7.6% increase between 2020 and 2023—11.5% below the inflation rate.