Report: Richmond city tops region in 2025 wage growth
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Richmond city residents saw their average weekly pay rise by 6% between the first quarters of 2024 and 2025, per the Bureau of Labor Statistics, which released data for some of the country's largest counties.
Why it matters: That was the highest wage growth of the largest localities in the region.
By the numbers: Richmond's paycheck increase brought city dwellers' average weekly wages to $1,783, or around $99 more a week than last year's average pay, per BLS' preliminary numbers.
- In Henrico, average weekly wages rose 3.4%, or by around $56, to $1,540.
- Yes, but: Chesterfield saw weekly wages fall by .2%, down a buck to $1,214.
Zoom out: Benton County, Arkansas (home to Walmart) saw the most wage growth, with weekly pay up 14.6%.
- Nationally, average weekly wages rose 4.1% to $1,589.
- But, but, but: Inflation rose about 2.7% during the period, taking a bite out of everyone's gains.
Between the lines: Virginia — along with dozens of cities, counties and states — raised their minimum wage back in January.
- The Old Dominion is set to do it again this coming January due to inflation, bumping up to $12.77 an hour.
Reality check: Looking at wage growth for all residents only tells part of the story.
- Broadly speaking, men's wages rose last year while women's pay stagnated, Axios' Emily Peck reported — "a worrying sign that the slow march toward pay equity for women is stumbling."
Go deeper: Inflation and unemployment filings are up, with no silver lining this time