PHOENIX — Arizona workers are experiencing their slowest wage growth in years, with average salaries now increasing at a pace that lags behind most other states.
The average Arizona worker makes just over $53,000, up 4.2% from last year, according to payroll company ADP. But that's down dramatically from the 8% annual increase workers saw in January 2023.
Arizona now ranks among the bottom five states for wage growth, behind Virginia, Mississippi, Louisiana, and Nevada. The state has the eighth-lowest average salary in the country, making the slow growth particularly concerning.
Workers at larger companies are faring better than those at small businesses. Employees at firms with over 500 workers are seeing 5% pay increases, while those at companies with fewer than 20 employees see just 2.5% growth.
Watch the video in the player above to learn more about these numbers and what they mean for Arizona's economy.
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