Cities With Fastest Wage Growth In U.S.

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Cities With Fastest Wage Growth In U.S.

The Provo-Orem, Utah area ranks number three among metro areas in the West and  Midwest that are experiencing the most rapid wage growth, while metro areas in the southern and eastern regions are growing more slowly or declining, a new study shows.

To determine where wages are rising and where they are falling, personal finance site GOBankingRates analyzed income changes year-to-year from 2010 through 2015 for America's 200 largest metro areas. Changes in income were calculated based on real income per capita in 2009 dollars.

The Bridgeport-Stamford-Norwalk, Conn. metro area experienced the largest decline of any metro area on the list, with a decrease in income of more than five percent between 2010 and 2015.

For more details on methodology or to view the full study here:

Cities Where Incomes Are Quickly Rising

No. 1 - Tulsa, Okla. Metro Area

  • 2010-15 income increase: 35.71 percent
  • 2015 personal income: $36,453

No. 2 - Fayetteville-Springdale-Rogers, Ark.-Mo. Metro Area

  • 2010-15 income increase: 29.72 percent
  • 2015 personal income: $36,863

No. 3 - Provo-Orem, Utah Metro Area

  • 2010-15 income increase 23.12 percent
  • 2015 personal income: $45,741

No. 4 - San Jose-Sunnyvale-Santa Clara, Calif. Metro Area

  • 2010-15 income increase: 22.59 percent
  • 2015 personal income: $59,603

No. 5 - Greeley, Colo. Metro Area

  • 2010-15 income increase: 20.34 percent
  • 2015 personal income: $41,078

Cities Where Incomes Are Growing Slowly or Shrinking

No. 1 - Bridgeport-Stamford-Norwalk, Conn. Metro Area

  • 2010-15 income increase: -5.32 percent
  • 2015 personal income: $81,225

No. 2 - Gulfport-Biloxi-Pascagoula, Miss. Metro Area

  • 2010-15 income increase: -2.25 percent
  • 2015 personal income: $40,057

No. 3 - Clarksville, Tenn.-Ky. Metro Area

  • 2010-15 income increase: -1.81 percent
  • 2015 personal income $38,885

No. 4 - Kennewick-Richland, Wash. Metro Area

  • 2010-15 income increase: -1.55 percent
  • 2015 personal income: $47,062

No. 5- Killeen-Temple, Texas Metro Area

  • 2010-15 income increase: 0.9 percent
  • 2015 personal income: $37,939

Additional wage growth Insights

The state of Florida is at risk of a recession due to an excess of local banks competing for too few small business loans. Accordingly, four regions in Florida land on the list of metro areas with little to no wage growth.

The Tulsa, Okla. metro area is the only region in the country with an income growth rate greater than 30 percent, partly due to new commercial development in the downtown area.

In 2014, Business Insider called the Bridgeport-Stamford-Norwalk area "the most unequal place in America." Across the entire state of Connecticut, the top one percent of earners absorbed 85.1 percent of all income growth.

About GOBankingRates

GOBankingRates.com is a personal finance news and features website dedicated to helping visitors live a richer life.

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