Phoenix Wages Fare Well In Comparison

The Phoenix Business Journal, reports that Greater Phoenix is holding its own when compared to wage growth in other similar-sized metro areas, according to an analysis in the current issue of the Bank One Arizona Blue Chip Economic Forecast. Cities in California, Colorado, Florida, Nevada, New Mexico, Oregon, Texas, Utah and Washington-- Arizona's primary development competitors-- were used in the analysis conducted by Elliott Pollack. "The Phoenix area ranks about 6% below the average of its competitor cities in terms of compensation before adjustments," Pollack writes. "Compared to the U.S. as a whole, unadjusted compensation for Phoenix is 3 to 7 percent below average, depending on the data used." Pollack added, "however, Phoenix's position improves significantly after adjusting for cost of living with ACCRA figures. Compensation for Phoenix is about 4 percent greater than the average of competitor cities." More...