Wages rise, but so does inflation
Average weekly wages in Nevada during the fourth quarter rose to $877, an increase of 2.9 percent from the same time a year earlier, the state Department of Employment, Training and Rehabilitation said last week. But inflation ate away the gain.
Bill Anderson, chief economist for the department’s research and analysis bureau, said the fourth-quarter wages were the highest for any quarter on record. Gains have been recorded in seven of the past 10 quarters. Wages in Nevada declined during 2009 and 2010 before turning up again in 2011.
For the full year of 2012, the average weekly wages in Nevada was $839, a 1.3 percent increase from 2011 and another new annual record for the state. Anderson noted, however, that inflation — 2.1 percent, as measured by Consumer Price Index — rose faster than pay.
Reno-based design firm MBA Architecture and Design is assisting on the $47 million Caesars Entertainment project in downtown Reno.