Most of the good ones do-mine sure does, and it's a must for durability.
When I bought my first soft touch knife, I checked the label specifically for "stainless steel blade." Regular steel rusts if you forget to dry it after cleaning, but stainless steel holds up. I've left mine wet a few times (oops) and it never rusted.
The blade stays sharp longer too-my 3-inch one has scraped paint, spread spackle, and peeled wallpaper, and it still cuts through loose paint like new.
That said, some cheap ones use plain carbon steel. I saw a $5 set at a dollar store once-no stainless steel label, and the blades looked thin. A friend bought them and said they rusted within a month.
So always check the product description or label for "stainless steel"-it's worth spending a few extra dollars to avoid replacing it quickly.
