According to Paychex, a small company researcher, Denver’s hourly wages climbed at the fastest rate among major U.S. metros in the previous year. Denver’s small company employees earn an average of $34.40 per hour, one of the highest in the country, up 5.81% from 2021.
Last year, Denver’s small-business salaries climbed faster than those of other big cities. This year saw some of the greatest salary increases in U.S. history. However, wage growth has been concentrated in lower-paying industries.
Earners in the bottom fourth of the income distribution had the greatest gains, according to the Federal Reserve Bank of Atlanta.
According to Paychex’s research, service employees’ earnings increased the greatest.
At $20.87 per hour, leisure and hospitality employees earn the lowest average hourly income of any industry. However, their earnings increased noticeably last year.
Small company leisure and hospitality workers in the United States earn 9.71% more than they did the previous year, which is roughly double the pace at which the next-closest industry increased its salary rates.
Workers in trade, transportation, and utilities saw their earnings climb at the second-fastest pace, at 5.96%.