Monday, August 10, 2015 09:01 PM


Average hourly earnings rose 6.2% in Columbus, Ohio -- home of the Ohio State Buckeyes.

Hourly wages grew at a healthy clip of over 5% in Columbus, Ohio, San Francisco, Virginia Beach, Va. and Louisville, Ky. according to the U.S. Labor Department.

It's a whole lot better than the overall average hourly earnings in the U.S., which only rose 2.1% in July compared to a year ago.

The slow pace of overall wage growth has worried economists and lawmakers alike. It is the missing ingredient in the U.S. economy's success and the main reason why many Americans haven't felt the benefits of the recovery.

The target for healthy wage growth set by America's central bank, the Federal Reserve, is 3.5%.

But wage gains have been even stronger in some cities.

There are some common threads in all of the cities. In each of them, either (1) the unemployment rate is below the national average or (2) the unemployment rate is moving down at a quick pace.

Translation: More jobs and fewer people available, so employers are paying up to hire workers.

News source: CNN

See also: Wake Opthalmology