Weekly wages up in third quarter 2011
Newly released economic data shows the weekly wages in Nevada averaged $845 in the third quarter of 2011.
This represents a 3.7 percent increase relative to the same three-month period the prior year, when wages came in at $815, said Bill Anderson, chief economist for the Department of Employment, Training and Rehabilitation.
“This is the fifth consecutive quarter of year-over-year increase and offers additional evidence that Nevada’s labor market is slowly on the mend, but with a long way to go,” Anderson said.
Both 2009 and 2010 average wages actually fell in Nevada. However, through the first three quarters of 2011 wages are up 3 percent from 2010. In nominal terms, wages hit a record-high slightly in excess of $825 in 2008. Through the first nine months of 2011, they averaged $821, he said.