The American unemployment rate fell to as low as 3.6% in May 2018. The national unemployment rate has not been that low for over half a century.
In December 2018, the United States employment sector added over 312,000 new jobs. A total of 2.6 million jobs were created throughout the year.
About 100,000 new jobs were added each month. This period marked one of the most prolific eras of job growth in almost 20 years.
Salary increases for American workers become a lot more generous in 2018. However, how much one got paid almost decidedly depended on location.
The average hourly salary increased by 4% in December 2018, relative to the previous December. Non-government employees made about $27.68 by the end of 2018.
According to various statistics, no American state experienced a salary decrease in 2018.
Fastest growth? D.C.
Employees in the District of Columbia saw their salaries increase by about 7.7% in 2018. The average hourly wage in D.C. was about $42 but increased to $45 by year’s end. D.C. employees also experienced the fastest wage increase in the country.
The best indicator of wage increases is wage growth, or, the purchasing power of wages relative to previous wage increases. Nevada had the fastest rate of relative wage growth at 7.5%.
Wages rose in Nevada from $22.71 an hour to $24.41 in 2018. However, this increase is still below the national wage average of $26.58, so there is space for improvement.
Wyoming experienced a 6% wage growth increase last year. The average weekly take home pay increased from $890 to about $916.
The District of Columbia of Columbia, Nevada, Washington, and Wyoming are in the minority when it comes to significant pay increases. The majority of states experienced wages increases in the neighborhood of 3% to 6%.
Several states didn’t see any appreciable wage growth. Alaska, Maryland, and Rhode Island barely saw their average wages increase from $28 to just under $30.