Erie Vital Signs

Income: Annual Pay

Recent Performance

*This trend improved slightly in 2013-2014, but Erie still lags behind the U.S., PA, and the peer areas.

Real average annual pay in Erie grew by only 0.1 percent from $39,668 in 2013 to $39,708 in 2014. This was less than the growth rate in real average annual pay in Pennsylvania (1.4 percent), the U.S. as a whole (1.5 percent), and the average for the thirteen Erie Vital Signs peer areas (1.1 percent). In 2014, Erie’s real average annual pay ranked below the benchmark average of $45,165 and was the second lowest of all benchmark peers.

The Basics

Average annual pay measures the annual wages per employee in all industries.

Why is this important?

The level of income is one of the most important indicators of the economic health and performance of a region. Average annual pay is an approximate measure of the yearly purchasing power earned, on average, by workers in the area. A rising level of average annual pay therefore reflects an increase in the standard of living for workers in the region.

The Details

Average annual wages per employee for any given industry are computed by dividing total annual wages by annual average employment. However, annual pay data only approximate annual earnings, because an individual may not be employed by the same employer all year or may work for more than one employer at a time.

The Nitty-Gritty Details

Subcategories

This EVS indicator has no subcategories.

Peer Areas

These variables include data on all 13 of the standard peer areas, along with U.S. and PA data.

Frequency

Annual

Source

U.S. Bureau of Labor Statistics, Quarterly Census of Employment and Wages (QCEW) Databases

Other Related Data

Latest Erie Data from the Economic Research Institute of Erie, at the Black School of Business at Penn State Behrend

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