Nevada’s weekly wages see slight increase
Weekly wages in Nevada increased slightly, averaging $840 during the third quarter of 2014, the second highest third quarter reading on record, according to the Department of Employment, Training and Rehabilitation in a news release Friday. This compares to $836 a year ago, a gain of just 0.5 percent.
Wages have been trending up since 2011, albeit at a modest pace, said Bill Anderson, chief economist for DETR.
Through the first three quarters of 2014, average weekly wages are up 1.2 percent from the prior year, Anderson said. Wages have grown in each of the past six quarters, after declining in four of the previous six.
"Whereas the hard-hit construction sector helps explain downward pressure on wages during the recession, the improving employment picture in this industry helps explain some of the upward pressure on wages of late," he said. "Average wages in 2013 in the construction sector were $988, well above the statewide average.”
While underlying trends have improved, wage growth is still struggling to keep up with inflation, Anderson said.
For instance, during all of 2014, consumer prices rose 1.6 percent, suggesting that wages have not grown in “real” terms.