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Ormond Beach Observer Tuesday, Feb. 12, 2013 7 years ago

Report: Ormond Beach wages stagnant

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Average wages in the Deltona-Daytona Beach-Ormond Beach metro area have haven't changed the past 24 months.

BY THE OBSERVER STAFF

Seven metropolitan areas experienced zero wage growth the past 24 months in the United States, and the Deltona-Daytona Beach-Ormond Beach was one of them.

The area’s average wage in 2012 was $17.32, a decrease of 14.7% from the previous 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 (is) up 4.8% over the same period, wage growth looks flat, if not even a hair negative."

The Deltona-Daytona Beach-Ormond Beach area was tied for 15th worst economic region in the country, which is in the bottom 4%. 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.

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