Dig a Little Deeper to Find Wage Growth, Says Deloitte Economist

The September payroll report showed a lack of wage inflation, but the national average hides higher paychecks at the state and local levels, said Dr. Patricia Buckley, Director for Economic Policy and Analysis at Deloitte LLP. Buckley added that energy producing states like Texas, Utah and North Dakota have seen wage growth even though average hourly earnings on private nonfarm payrolls in September remained stuck at $24.53. Furthermore, she said a Deloitte report shows that most of the wage growth is happening within the business/professional services and leisure/hospitality services industries.