Palm Beach County’s tepid job growth translates to wage weakness

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Palm Beach County’s average weekly wage rose to $973 in the third quarter of 2016, a 5 percent increase from the third quarter of 2015, according to a survey released Tuesday by the U.S. Bureau of Labor Statistics.

Sounds good, right? Not exactly. The national average for wage growth was 5.4 percent. Palm Beach County rated a subpar 215th among the nation’s 345 largest counties.

Meanwhile, Palm Beach County, long the highest-wage county in Florida, has been surpassed by Hillsborough County and Miami-Dade County.

It’s unclear exactly why Palm Beach County wages have weakened. Employment growth is robust.

One possible explanation: Palm Beach County’s job growth lagged Florida’s for much of 2016.

 

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