Total compensation of U.S. workers grew 5.2% in 2007 and most counties shared in that growth, according to statistics released today by the Bureau of Economic Analysis (BEA). Compensation grew in over 90% of the 3,111 counties in the U.S., as the average annual compensation per job in the U.S. grew by 4.1% to $53,892. Inflation, as measured by the national price index for personal consumption expenditures, grew 2.6% in 2007.
Large counties, those with at least $10 billion in total compensation, represent 5.3% of the 3,111 counties in the U.S., but account for almost two-thirds (65.8%) of total national compensation. In these 164 counties, all metropolitan:
- Total compensation grew by 5.5% in 2007, ranging from -0.6% in Montgomery County, Ohio to 12.4% in Collin County, Texas
- Average annual compensation per job in 2007 ranged from $41,520 in El Paso, Texas to $116,977 in New York County (Manhattan), New York
- The management of companies and enterprises sector had the largest rate of growth for total compensation in 2007 at 10.5%, while the agriculture, forestry, fishing, and hunting sector had the smallest rate of growth at 1.4%
- The professional and technical services sector represented the largest share of 2007 total compensation at 10.8%
Medium sized counties, those with total compensation of at least $1 billion and less than $10 billion, represent 21.4% of all U.S. counties, and account for 25.8% of total national compensation. In these 667 counties:
- Total compensation grew by 4.8% in 2007, ranging from -11.4% in Maury County, Tennessee to 24.7% in Geary County, Kansas
- Average annual compensation per job in 2007 ranged from $31,580 in Sevier, Tennessee to $94,127 in North Slope Borough, Alaska
- The mining sector had the largest rate of growth for total compensation in 2007 at 12.2%, while the non-durable manufacturing sector had the smallest rate of growth at 0.4%
- The health care and social assistance sector represented the largest share of 2007 total compensation at 11.2%
Small counties, those with total compensation of less than $1billion, represent the remaining 73.3% of all U.S. counties, but account for only 8.4% of total national compensation. In these 2,280 counties:
- Total compensation grew by 4.6% in 2007, ranging from -31.8% in West Carroll Parish, Louisiana to 82.5% in Slope County, North Dakota
- Average annual compensation per job in 2007 ranged from $24,990 in McPherson County, Nebraska to $89,574 in Eureka County, Nevada
- The mining sector had the largest rate of growth for total compensation in 2007 at 11.7%, while the non-durable manufacturing sector had the smallest rate of growth at 0.2%
- The local government sector represented the largest share of 2007 total compensation at 16.0%
The compensation by industry statistics cover 114 industries for 3,111 counties. The 2005-2006 statistics have been revised to incorporate newly available source data, while the 2007 statistics are released for the first time.
In addition to the county statistics, BEA is releasing compensation by industry for metropolitan areas, metropolitan divisions, micropolitan areas, combined statistical areas, and BEA economic areas. Table CA06, Compensation of Employees by Industry, for all areas for 1998-2007 can be accessed interactively at www.bea.gov/bea/regional/reis.
Tables presenting the comprehensive measure of personal income for local areas-including CA05, Personal Income by Major Source and Earnings by Industry-will be released April 23, 2009.
Definitions
Compensation is the income accruing to employees as remuneration for their work. As a component of personal income, compensation is the sum of wage and salary disbursements and supplements to wages and salaries; as a component of Gross Domestic Product by state, compensation is the sum of wage and salary accruals and supplements to wages and salaries. The difference between disbursements and accruals is typically very small and arises when employees receive retroactive wage payments. Such payments are recorded in wage and salary accruals when earned and in wage and salary disbursements when paid.
Average compensation per job is compensation of employees received, divided by total full-time and part-time wage and salary employment.
The metropolitan area definitions used by BEA for its entire series of personal income statistics are the county-based definitions developed by the Office of Management and Budget (OMB) for federal statistical purposes and last updated in November 2007. OMB's general concept of a metropolitan area is that of a geographic area consisting of a large population nucleus together with adjacent communities having a high degree of economic and social integration with the nucleus. Detailed personal income statistics for metropolitan statistical areas, micropolitan statistical areas, metropolitan divisions, and combined statistical areas are available on the BEA Web site at www.bea.gov.
By visiting BEA's Web site, you can also subscribe to e-mail notifications of BEA's various news releases and announcements.
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