Silicon Valley has the highest average pay in the United States…

http://pewresearch.tumblr.com/post/145358534491

Silicon Valley has the highest average pay in the United States – $2,069 a week, according to federal wage data. That might not be too surprising, but here’s what is: Even after factoring in the region’s notoriously high cost of living, the high-tech hub’s wages come out on top in terms of relative purchasing power.As we’ve noted before, prices for everything from housing to groceries vary widely from place to place, with the result being that a given income can mean very different things in New York, New Orleans, or New Bern, North Carolina. To get a handle on those variations, one can use the “regional price parities,” or RPPs, developed by the federal Bureau of Economic Analysis. The RPPs measure local price levels in each of the nation’s 381 metropolitan statistical areas, as well as the nonmetropolitan portions of states, relative to the overall national price level.Following up on our recent post about growth in average weekly wages, we decided to see how wages in the nation’s 381 metro areas stack up against each other when adjusted for regional price variations. We used the most recent available data for wages (the third quarter of 2015) and the latest set of RPPs (from 2013).Where wages are worth the most and least in the U.S.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s