Nevada’s average weekly wage reached $935 for the fourth quarter in 2015, the highest on record.
The gain equates to a 4 percent increase and the second strongest growth since early 2008. Wages are up from $899 a year ago, Bill Anderson, chief economist for Nevada’s Department of Employment, Training and Rehabilitation, said in a statement.
“Growth in wages is not unusual from October to December as some employees received year-end bonuses,” Anderson said. “Wages have been trending upward since 2011. The growth in wages represents good news as the Silver State continues to see signs of improvement in the economy. In an environment of modest consumer price pressures, recent wage gains are translating into real, inflation-adjusted, gains.”
Wages for the entire year of 2015 averaged $879 per week, which is also a new record, surpassing $860 in 2014. This translates to a 2.2 percent gain, the strongest since 2007.