October 20, 2009 (The Editor’s Desk is updated each business day.)
Average weekly wages: first quarter 2008–09
Average weekly wages for the nation fell 2.5 percent over the year in the first quarter of 2009. This is the largest over-the-year decline in U.S. average weekly wages dating back to 1978.
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During that time span, over-the-year declines in average weekly wages occurred in only two other quarters: first quarter 1993 (‑0.9 percent) and fourth quarter 1994 (‑1.1 percent). The average weekly wages in those two quarters declined because employment growth outpaced total wage growth; in the first quarter of 2009, both employment and wages decreased.
Among the 334 largest counties, 202 had over-the-year decreases in average weekly wages this quarter. The largest wage losses occurred in New York County, New York, with a decline of 23.4 percent from the first quarter of 2008, largely attributable to lower bonus payments in financial activities. Mecklenburg, North Carolina, had the second largest decline (‑10.3 percent); followed by the counties of Fairfield, Connecticut (‑10.0 percent); Hudson, New Jersey (‑9.7 percent); and Suffolk, Massachusetts (‑9.0 percent).
These data are from the Quarterly Census of Employment and Wages program. To learn more, see "County Employment and Wages: First Quarter 2009" (HTML) (PDF), news release USDL 09-1241. Large counties are defined as having employment levels of 75,000 or greater. New York County is more commonly known as the borough of Manhattan.
Of interest
Spotlight on Statistics: National Hispanic Heritage Month
In this Spotlight, we take a look at the Hispanic labor force—including labor force participation, employment and unemployment, educational attainment, geographic location, country of birth, earnings, consumer expenditures, time use, workplace injuries, and employment projections.
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