Here’s an economic report that’s useful but requires some asterisks. According to the federal Bureau of Labor Statistics, Seattle area compensation (wages plus benefits) rose 1.7 percent from March 2013 to March of this year. That’s the second-highest increase among metros in the West.
Now the asterisks. First, the BLS uses the “Seattle-Tacoma-Olympia” metropolitan area, a statistical blanket rarely used to encompass the Puget Sound. Usually, we see the Seattle-Bellevue-Everett metropolitan division or the Seattle-Tacoma-Bellevue metropolitan statistical area. Second, the 1.7 percent growth must be compared against an inflation rate of about 1.5 percent.
Interestingly for a technology hub, our metro compensation costs rose only in line with the national average. The big bucks were made in San Jose-San Francisco-Oakland, with total increase of 3.6 percent.
SAVE THE DATE: Former Treasury Secretary Timothy Geithner will be at Seattle Arts & Lectures, at 7:30 p.m. May 16th at Town Hall Seattle. He will be discussing his new book, Stress Test, with Homey here as interlocutor. More information can be found on this link.
And Don’t Miss: Google is following you offline to undermine Amazon | Wired
Today’s Econ Haiku:
Hair on fire moment
But will denial dry up?
Climate change is now
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