ABQ Wage Growth Lags

December 8, 2017

There was some good news in the year that ended June 30 for the Albuquerque area's economy. The average weekly wage increased by 1.3 percent to $865, according to the U.S. Bureau of Labor Statistics. The bad news is that that growth rate was the lowest among cities in the region.

 

 And, the area's average weekly wage was 85 percent of the national average of 1,020.

 

Denver had the highest average weekly wage at $1,241, followed by Salt Lake City at $967.

 

The average weekly wage, however, isn't the best measure of how an area's economy is doing, or how well off its residents are because it doesn't take into account the cost of living.

 

Denver, which has been booming for the past decade in terms of job growth and wages, has some of the highest housing prices in the nation. Meanwhile, Albuquerque, whose economy has struggled, has a much lower cost of living.

 

Here's a look at how Albuquerque compares to other cities in the region:

 

 

 Now here's a look at the rate of increase in the average weekly wage:

 

 

 

 

 

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