Wages paid to Florida workers remained stagnant for the last decade, says a new report from researchers.
The Bureau of Economic and Business Research at the University of Florida this week released a 10-year overview that said average wages remained relatively flat between 2005 and 2015.
The report says after wages were adjusted for inflation the average wage hovered around $45,000 a year. It actually declined right after the start of the Great Recession, rebounded slightly but then fell again. This pattern was seen in metropolitan areas and in different industries.
The report does note that wages increased in 2015 which brought the average wage to over $46,000. Researchers say that may be a sign that the period of stagnation has come to an end.
Republished with permission of The Associated Press.