Nevada’s Booming Economy
This morning’s news reports that Nevada’s wages in the second quarter of 2013 were the highest ever. Wow, Nevada must be just booming. Imagine, they’re getting paid the highest EVER. You might want to give up your mediocre job in whatever state you live in and move to Nevada.
But wait. Let’s look at those numbers.
|2011||Wkly Wage||Pct chg|
So, over the past 2 1/2 years, a Nevadan’s wages went up a measly 3% During that same time period, inflation went up 6.8%.
In other words, the average Nevadan’s wages were reduced by 4%. In other words, Nevada lost $829 X .04 or $33 a week or $1,716 per year.
This is quite the opposite of what the worthless news media is reporting.
Worse, still, is that the “average” wages is a worthless number because it makes one think that wages on the “average” person has gone up but in reality the average person’s wages went down while the wages of the top 1% of wage earners went up by a greater number. These reports need to report the “mean”, not the “average” The “mean” value is the value where half the population makes more than that number and half of the people make less. This number is going down even though the average is going up.
One reason Nevada’s wages are so miserably low is that we are a “right to work for less” state. In other words, we’re not too smart when it comes to governing ourselves. Having said that, let me finish by saying that I am seeing Nevada coming to our senses. We are now majority Democratic and the majority are getting involved in the political process. Maybe we can reverse this “right to work” nonsense.