DENVER (KDVR) — Colorado’s median salary is one of the nation’s highest, according to a new report.
ADP Research Institute analyzed wage growth data in U.S. states and Washington, D.C. Overall, the median salary in the U.S. grew 7.6% since last November. Like inflation, wages had been climbing rapidly in the last year and have slowed in their growth in the last two months.
Wages have been climbing most in the leisure and hospitality industry. In November, this industry’s median salary was 11% higher than last year, while salaries grew 6-8% for every other industry.
Colorado’s median salary was $61,700 in November.
Only Washington, D.C., Massachusetts and New Jersey have higher median salaries. Washington, D.C.’s is the nation’s highest, with a median salary of $92,400.
States in the southwestern and southeastern parts of the country had the lowest median salaries. New Mexico’s was $40,100 in November, followed by $42,700 in Mississippi and $45,000 in Arkansas.
Colorado’s salaries were among the nation’s fastest-growing, as well.
The median salary grew by 8.7% since last year, the seventh-highest rate in the nation. Wages grew fastest in Wyoming, Oregon, Utah and Montana.
Nationally, those who changed jobs saw their wages increase at double the rate of those who stayed in their current jobs. The median salary increased 15.1% for those who got new jobs, while it increased 7.6% for those who stayed.