Wednesday, October 14, 2009

Booms and Busts: A Decade of Wage Data in Oregon

In this decade Oregonians received their highest average first-quarter wage in the year 2000 - $10,175 after adjustment for inflation. Wages have slipped by 1.4 percent since then to $10,030 in the first quarter of 2009. But that isn't the whole story: the 2009 figure is up from the decade's low point.

The bust-boom-bust economic cycle of the past 10 years has, inevitably, affected each of Oregon's industry sectors uniquely. The natural resources and mining sector has performed particularly poorly. Adjusted wages in the sector are down 6.5 percent from their peak in 2003, for a total decline of 5.9 percent since 2000.

Construction wages also experienced a wild roller-coaster ride over the past 10 years. The average first-quarter wage in this sector topped out in 2001 at $11,871 (a 4.1% increase from 2000), plummeted 12.0 percent to 2005's low of $10,040, then rebounded 9.9 percent to end at $11,035 in 2009.

This century's infant years will no doubt be remembered for their economic turbulence. The effects of two recessions on wages in Oregon are undeniable - inflation adjusted wages for the average Oregonian have decreased over the decade. It is possible that wages will slip further during the current recession before rebounding.

See the full article for more information about wages in Oregon!

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