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Wages in Palm Coast are dropping faster than 95% of the 372 U.S. metro areas, according to a report from the U.S. Bureau of Labor Statistics.
Palm Coast’s average hourly wage in 2012 was $15.63. When adjusted for inflation, that’s a decrease of 14.4% in two years. In the past 24 months, the wage increased year-over-year in just eight of them.
Seven metropolitan areas experienced zero months of wage growth out of the past 24, including Deltona-Daytona Beach-Ormond Beach. That area’s average wage in 2012 was $17.32, a decrease of 14.7% in the past two years, when adjusted for inflation.
A report published on GarnerEconomics.com states: "According the U.S. Bureau of Labor Statistics, wages over the last two years have increased by 4.7% nationally, from $22.79 per hour in 2010 to $23.87 at the end of 2012. However, when inflation is considered, which up 4.8% over the same period, wage growth looks flat, if not even a hair negative."
The wage drop in Palm Coast is tied for 17th worst in the U.S., putting it in the bottom 4.5% of metropolitan statistical areas. The Deltona-Daytona Beach-Ormond Beach area was tied for 15th worst, which is the bottom 4.0%.
Here is a full list of the areas with worse wage growth, with the percentage drop:
El Centro, Calif. -29.7%
Punta Gorda, Fla. -27.9%
Michigan City-La Porte, Mich. -23.5%
Kokomo, Ind. -23.2%
Hot Springs, Arkansas -22.6%
Flint, Mich. -21.9%
Las Cruces, N.M. -19.9%
Danville, Va. -19.0%
Champagne-Urbana, Ill. -18.0%
Warner Robins, Ga. -17.1%
Yuba City, Calif. -16.1%
Sheboygan, WIs. -15.7%
Lynchburg, Va. -15.2%
Victoria, Texas -14.9%
Deltona-Daytona Beach-Ormond Beach -14.7%
Hanford-Corcoran, Calif. -14.7%
Mankato-North Mankato, Minn. -14.4%
Palm Coast, Fla. -14.4%
*Reflects the past two years, adjusted for inflation. Source: U.S. Bureau of Labor Statistics.
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10 Student Art Show in Black Box
10 Flagler ARES Monthly Meeting
10 FOP Meeting
10 FPC Band and Chorus Holiday Winter Festival
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Donations for children in need will be collected at Flagler Beach's holiday parade; and, a Grammy winner will be featured this weekend at Hollingsworth.
OUR TOWN: Sheriff graduates second class of 2013
Also: Let's hear it for the Matanzas Women's Club, which raised $5,000 for college scholarships; the holiday boat parade needs captains; and more.
No Shave November Contest
Locals have been growing their facial hair over the past month, but on Nov. 30, they reconvened at Woody's BBQ to pick the best beards and mustaches. November is prostate cancer awareness month and FPC's boys lacrosse team started a local no-shave contest with 30 participants. They raised more than $1,000 for Florida Hospital Flagler.