Nevada worker weekly wages increase to $860 during third quarter 2015
Weekly wages in the Silver State averaged $860 during the third quarter of 2015, compared to $840 a year ago, according to figures released Thursday from the Nevada Department of Employment, Training and Rehabilitation.
This represents a gain of 2.6 percent and is the highest third quarter reading on record, said Bill Anderson, chief economist for the state agency that tracks employment figures.
“Wages have been trending up since 2011, albeit at a modest pace,” Anderson said. “Through the first three quarters of 2015, average weekly wages are up 1.6 percent from the prior year. Although wage growth has eased in recent years, underlying trends continue to improve. Wage growth exceeded 5 percent prior to the economic downturn.”
Wage growth is keeping up with inflation. During the first three quarters of 2015, consumer prices were unchanged from 2014, suggesting that wages have grown in real terms, he added.