2010 Growth in Wages over the Past 10 Years
Long Island wages have been declining while US wages rose.
| |
|
Why is this important?
Average pay per employee is a basic measure of the economy’s health. Increasing or decreasing inflation-adjusted pay per employee reflects the relative economic vitality of Long Island. It does not, however, assess whether the returns of economic activity are being distributed equally throughout the workforce
How are we doing?
Average pay per employee on Long Island decreased by 2.6% from 2000 to 2009 compared to the US which rose 4.9%. Between 2007 and 2009 Long Island wages per employee actually fell 4%, while the U.S. figures were stable. In constant 2008 dollars, average pay per employee was $1,285 lower in 2009 than it was in 2000.