The past two years have shown historical growth in wages, after over a decade of relatively slow wage growth in both Hampton Roads and the Commonwealth of Virginia. These historic increases in wages are due to a combination of factors – stiff competition for workers, both to retain and hire, and rapidly rising costs due to inflation. A closer look at data reported by the Bureau of Labor Statistics (BLS) in Hampton Roads and Virginia outlines both the magnitude of the recent increases, and how different industries fared.
