ATLANTA – A new study reveals Georgia salaries are seeing one of the biggest falls behind inflation in the United States.
Release:
The average salary in the U.S. has grown by 5.4%, and there was a gain of 3.2% in the Consumer Price Index for All Urban Consumers indicating an increase in people’s spending power in the USA.
At USA TODAY Blueprint we compared every state’s increase in average salary with the regional Consumer Price Index data to see which states failed to see a rise in salaries to match inflation in 2023.
Salary increases in Georgia are behind inflation overall in the last 3 years:
- In 2022 Georgia wages rose by 6.7% whilst inflation rose by 8.8%
- In 2021 wages rose by 5.9% whist inflation rose by slightly less at 5.6%
Nationwide stats:
- Rhode Island was the only state that saw a decrease in wages in 2023 at -0.3%, compared to a rate of inflation of 2.5%
- Maryland wages increased by 2.2% whilst inflation grew 4.5%
- Inflation in the 3 of the 4 highest paid states (Massachusetts, California and New York) rose between 0.5% and 0.7% higher than salaries
Top 5 states falling behind inflation in 2023
| State | Average wage | Change in wage | Inflation | Difference |
| Rhode Island | $63,492 | -0.3% | 2.5% | -2.8% |
| Maryland | $72,904 | 2.2% | 4.5% | -2.3% |
| Delaware | $64,896 | 2.3% | 4.5% | -2.2% |
| Georgia | $64,844 | 2.6% | 4.5% | -1.9% |
| New Jersey | $76,128 | 1.6% | 3.2% | -1.6% |
- The biggest positive change was in New Mexico, where wages grew by 6.5% and inflation grew by 3.8%
- Maine and Vermont have also seen positive results, the only two states to see higher percentage increases in wages compared to inflation two years in a row
- The average salary in Washington, the 2nd highest paid state, rose by 4.9%, whilst inflation rose by 4%
Top 5 states beating inflation in 2023
| State | Average wage | Change in wage | Inflation | Difference |
| New Mexico | $57,564 | 6.5% | 3.8% | +2.7% |
| West Virginia | $55,900 | 6.1% | 4.5% | +1.6% |
| Vermont | $61,100 | 4.1% | 2.5% | +1.6% |
| Connecticut | $78,572 | 3.8% | 2.5% | +1.3% |
| North Dakota | $61,568 | 4.9% | 3.7% | +1.2% |
Find the full data and further analysis of average wages by demographics in the US here: https://www.usatoday.com/money/blueprint/business/hr-payroll/average-salary-us/
