More good news South Florida. Whereas the rest of the country on average had their wage declined, South Florida’s increased year over year, and quarter over quarter. According to the South Florida Business Journal:

South Florida wage growth has again reached a new high in the first quarter, according to the PayScale Index.

Wages in the tri-county area jumped to a three-year high of 3.8 percent growth in the first quarter, compared to the same time last year, and 0.9 percent growth compared to the previous quarter.

The PayScale Index tracks the 20 largest metropolitan areas and reveals how much an employer pays a worker today, compared to last year, for the same job. It also shows how much employees can expect to earn in the same position compared to last year’s wages.

The increase in South Florida is largely driven by what is happening in the local economy, said PayScale Lead Economist Katie Bardaro. The South Florida real estate market, which was hit hard during the housing bust, contributed to the wage growth more so than any other industry, as people have become more confident and desire to buy a house, she added.

The finance and insurance industry, which includes accounting firms, venture capitalists and insurance agencies, also has not fared well in the past and saw significant improvement in the first quarter.

Many South Florida industries, hospitality, transportation, finance and real estate, were among those that have seen positive change, Bardaro said.

Nationally, wage growth declined 0.1 percent in the first quarter, compared to the prior quarter. The drop is fairly significant because it indicates that people are feeling uncertain about the economy, amid sequestration, she said.

The PayScale Index does not track public jobs since they are not necessarily driven by economic factors but more by policy, Bardaro said.

This increase in wage is actually a good sign for South Florida because it means the unemployed pool is getting small due to small businesses feeling more confident in the local economy. With the array of positive metrics that we have been observing lately it seems that it won’t be long before South Florida is back to its usual self.