A waitress takes customers’ orders in the outdoor seating area of a restaurant on January 28, 2021 in Los Angeles.
Valerie Macon/AFP/Getty Images
The first three months of 2021 were the best quarter for wage growth since at least 2001, per BLS data. But weekly median wages for white Americans were 42% higher than Black Americans’ over this period, Axios reports. And with some economists concerned about inflation risk, wages and prices are rising together. See more stories on Insider’s business page.
With vaccinations ramping up across the country and the economy reopening, people’s wages are going up. America hasn’t seen this kind of wage growth in 20 years.
Bureau of Labor Statistics data on the ECI, which measures the change in total employment compensation each quarter, shows that the first three months of 2021 were the best quarter for wage growth since at least 2001. According to the BLS data, wages and salaries increased by 3% for private industry workers for the 12-month period ending in 2021, and 2.7% for civilian workers.
But they shot up more for white Americans than any other group.
Axios reported on similar data on Thursday, citing the Ludwig Institute for Shared Economic Prosperity on data showing the gap between white Americans’ wages and everybody else’s grew larger in the first quarter. It found that white Americans now have true weekly median earnings of $914, which is 42% higher than Black Americans and 45% higher than Hispanic Americans.
Axios: True median weekly wages.
A Fitch report released on Thursday found that in almost every US state, jobs increased in the last month, the highest month-over month increase since September, but the recovery is uneven.
“Positive job gains in March pushed several states’ employment recovery to over 50% of the jobs lost at the peak of the pandemic,” the report said. Illinois, Hawaii, New Mexico, California, Wyoming, Louisiana, and Alaska remain below 50% jobs recovery, it said.
In addition, Fitch said labor force