Wage gains reach 40-year high, hospitality workers benefit most

Photo: Brandon Hartley

Wages increased by an average of 5% in the first quarter of 2023. That’s almost double what he was a year ago, but not enough to offset the impact of inflation, the National Bureau of Statistics CBS said Thursday.

The consumer price index rose 6.6% from January to March, according to CBS. Nevertheless, the 5% average increase rate is his highest in 40 years.

The biggest increase went to those working in the hospitality sector, whose wages rose by 8%. This includes the impact of his 10% increase in minimum wage. Wages for employees in the hospitality sector rose by only 0.3% last year.

Wage growth also approached 8% in the transport and civil service sectors. He had the lowest wage increase of 2.5%, paid to those working in the real estate sector.